Bitcoin Cash price comes close to $600 in another strong session

on Nov 2, 2017
Updated: Mar 11, 2020

Bitcoin Cash’s (BCC or BCH) impressive run shows no signs of slowing down, as the cryptocurrency has continued its surge forward on Thursday. The Bitcoin Cash price made an attempt at $600 earlier in the session, scoring an intraday high of $596.65, according to data from cryptocurrency tracker Coinmarketcap. The digital coin has since pulled back to its current price level of around $550, but even at that level it is still up 11.7% over the past 24 hours.

Bitcoin Cash’s performance is even more impressive, considering that most major altcoins have been left struggling on the sidelines, with investors focusing on Bitcoin (BTC) and its record-breaking run. In fact, the only other major altcoin trading in the green at the moment is BitConnect (up more than 7% over the past 24 hours). This could mean that the two altcoins are in part benefitting from the enthusiasm surrounding the legacy Bitcoin chain. Still, Bitcoin Cash has been showing signs of improvement over the past week, so its rise is probably not entirely driven by the current Bitcoin mania.

Hard fork, BTCC support

Bitcoin Cash has seen a major development earlier this week, in the form of a new software upgrade that seeks to improve the way network difficulty is adjusted. The changes, which will be implemented via a hard fork on November 13, appear to be positively received by the BCH community.

In other Bitcoin Cash news, the CEO of Bitcoin China Bobby Lee yesterday revealed that the company would soon start mining on the BCH network. During a public Q&A session that largely focused on SegWit2x, Lee also shed light on BTCC’s plans about Bitcoin Cash, saying:

“BTCC supports altcoin mining. Earlier this year, we started mining Litecoins and we will start mining Bitcoin Cash soon.”

In today’s trading, the Bitcoin price stood at $559.11, as of 15:44 BST. The coin has gained 13.3% in the last 24 hours.