In recent days, there have been reports that Bitcoin Cash (BCH) and Bitcoin SV (BSV) are performing better than Bitcoin (BTC). Let’s analyze these claims and see if they hold true.
Bitcoin Cash (BCH)
Since Sunday, the price of BCH has increased by 7%, while BTC was up 6%. This suggests that Bitcoin Cash is outperforming Bitcoin, but the difference is small. To get a better picture, let’s look at a longer period.
From the beginning of October, BCH has lost 3% while BTC has gained 5%. If we consider the end of August as a reference, BCH is up almost 11%, while BTC is up 9%. Again, Bitcoin Cash is outperforming Bitcoin, but not significantly.
Compared to the July highs, BCH is down 28%, while BTC is down only 11%. However, if we compare it to the June lows, BCH is actually up 134%, while BTC is only up 14%. So overall, Bitcoin Cash has not consistently outperformed Bitcoin since the June boom.
It’s worth noting that from the beginning of the year until the June boom, BCH was only up 7%, while BTC was up 50%. The June rally contributed significantly to the difference in performance between the two.
Bitcoin SV (BSV)
A similar argument can be made for BSV. It saw a small spike on Monday, followed by another spike that saw it rise by 27% over Sunday. In comparison, BCH had only increased by 7% during the same period.
However, BSV had lost ground after the June boom and has only gained 79% since the June lows, compared to BCH’s 134%. In June, BSV was up 128%, still less than BCH’s 215%, but by the end of August, it had fallen by 49%.
Between January and June, BSV had also experienced a significant decline, and it is now only up 5% since the start of the year, compared to 137% for BCH and 72% for BTC. Monday’s performance helped BSV recoup some losses but did not significantly improve its overall performance.
Bitcoin Forks: Bitcoin Cash and BSV
Both BCH and BSV are forks of Bitcoin. BCH was created in August 2017 as a version with larger blocks to accommodate more transactions. However, it has never been able to reach its all-time highs since then.
BSV was born out of a fork of BCH in November 2018. The fate of both projects does not look very different from each other, while Bitcoin continues to dominate the market without any strong competitors.
In conclusion, while there have been short-term periods where BCH and BSV have outperformed BTC, their overall performance does not surpass that of Bitcoin. BTC has consistently shown stronger growth over longer periods of time.
Hot Take: Bitcoin Cash and Bitcoin SV’s Performance Compared to Bitcoin
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