Bitcoin Cash ABC records a 62% rebound

November 18, 2020
By Sam Grant

Bitcoin Cash’s latest hash war might have quashed Bitcoin Cash ABC (BCHA), but the BCHA faction is not yet dead

Bitcoin ABC coin just posted a 62% price jump as the developer looks to introduce a new client release. The new upgrade will reportedly feature stability-oriented fixes for the forks of the BCH client.

Crypto analysts believe the upgrade will revivify Bitcoin Cash ABC that took a big hit in the hash war. A large percentage of the crypto community members thought the hash war spelled the demise of the coin. However, that has been far from the case as the coin is keeping up.

CoinMarketCap’s data shows that the coin started trading at $19.28 today. Its price slightly dropped to about $15 five hours later. The coin has since managed to get back on track and is now trading at $19.97 with a 24-hour volume of $1,394,300. BCHA’s 24 hour low/high currently stands at $12.81/ $22.99.

In the last 24 hours (ending at 7 AM GMT), the coin’s price has climbed from $12.27 to $19.9, translating to a 62% increase. The rebound is a huge relief to its holders as it gives them hope the coin won’t be abandoned. On the other hand, Bitcoin Cash Node (BCHN) is currently trading at $248, having lost 3.125% over the last four hours.

Amaury Sechet posted on Twitter yesterday promising that he would remain committed to the current project and the significantly shrank Bitcoin ABC’s community.

“The BCHA crowd is the most amazing crowd in crypto, hands down. The fact that it is small, yet, says way more about crypto than it says about anything else. There is no other place I’d rather be in,” he wrote.

Bitcoin Cash ABC faces many stumbling blocks as it tries to get on the right course. The coin already lost claim to the Bitcoin Cash tag as well as the BCH ticker symbol. Even more damaging, only a few blocks have been added to its chain since the hard fork occurred.

There is a small positive outlook, though, as its recent block contained an increased number of transactions. The BCHA block held about 14,000 transactions – a remarkable upswing from the 1,674 transactions in the preceding block. The recent block also had 0.9 BCHA (translating to about $19) in transaction fees.