Bitcoin Cash is a hard fork of Bitcoin and opened for trading on August 1, 2017. With Bitcoin (BTC) grabbing all the headlines in the recent weeks, the recent Bitcoin Cash news has heightened the euphoria surrounding the cryptocurrency space.
Thomson Reuters reportedly has added Bitcoin Cash (BCH) to Eikon, its Bloomberg terminal challenger platform. This seems to be inspired by the huge wave of interest in digital currencies in the trading community and many financial institutions. Through Eikon platform, Bitcoin Cash data can be accessed by thousands of finance professionals who are watching every move of Bitcoin Cash price.
Eikon was launched in 2010 as Reuters’ financial information platform and Bitcoin was added to it in 2014. The platform is linked with more than 400 exchanges and OTC-traded exchanges.
This recent change follows the one by Bloomberg when it added ethereum, ripple and Litecoin data to its service. With Bitcoin Cash gaining more adoption, the development was bound to come sooner rather than later. Bitpay, which is the largest Bitcoin payment processor in the world, has also announced a few days back that it will start processing Bitcoin Cash payments. The payment processing for Bitcoin Cash is expected to begin in early 2018.
What this means, is that all BitPay transactions will be routed to a BCH invoice, but as the company presses on utilizing core invoices, customers will still be able to do just that. Here’s the announcement BitPay made:
“Demand for Bitcoin transactions is outstripping capacity, causing miner fees to rise on the Bitcoin network. With average transaction fees already around $20, we understand that Bitcoin alone cannot handle the current demand for blockchain payments. You will also continue to only receive the settlement type you have chosen, with zero volatility risk from price swings.”
These developments are the result of Bitcoin Cash price inching higher consistently.
After starting off at a meager value of around $400, Bitcoin Cash price peaked to $2,245 yesterday in a matter of four months. Bitcoin Cash price has hovered around low values of $300, in October and November after it surged around $700 in August. And as we discuss this, BCH has crossed $2,390 as per coinmarketcap.
All said and done, Bitcoin and Bitcoin Cash have been hitting the headlines almost daily and been able to garner the utmost attention of investors and traders. Seemingly, Bitcoin Cash is now being considered by not only finance professionals but also by conventional financial software companies to be added onto their platforms!
Although the opinion on cryptocurrencies in general is highly polarized across different sectors in the world, we think that cryptocurrencies are here to stay and their use shall keep on increasing with time.