In 2017, Bitcoin spawned a new cryptocurrency that would support much higher transaction volume than Bitcoin. The Bitcoin Cash block size is 8MB compared with Bitcoin's 1MB. On August 1, 2017, bitcoin holders received one unit of Bitcoin Cash (BCH) for every bitcoin they owned, and BCH rose to nearly USD $700 the next day. Within two weeks, BCH dropped to $300, but then more than quadrupled later in the year.
The Original Bitcoin Was Also Improved
Only a week after BCH debuted, a consortium of Bitcoin miners approved the Segregated Witness upgrade that made the original Bitcoin more efficient (see SegWit
). Needless to say, both Bitcoin and Bitcoin Cash will have wild rides. See Bitcoin Gold
, Bitcoin mining