And BTC on the Rise...
Earlier this year, divergent groups within the original Bitcoin community could not agree on a particular protocol to be implemented in scaling the platform. Those who sought bigger blocks therefore hard forked away from Bitcoin and created Bitcoin Cash (BCH).
Battle for supremacy
Since the creation of Bitcoin Cash in August 2017, there has been a tug on both sides of the divide and many key players and stakeholders have publicly taken sides based on reasons that are peculiar to them.
After the hard fork, Bitcoin Cash followed a general downward trend following its initial surge post-creation, while Bitcoin continued to smash the roof and set new record-highs repeatedly. Recently, Bitcoin retraced significantly over a short period of time - about $2,300 in just a few days. The difference between this dip and previous corrections was the corresponding surge in value of Bitcoin Cash which many people see as a direct rival to Bitcoin.
This Bitcoin Cash surge has caused formerly-neutral trading platforms like eToro to add Bitcoin Cash to their platform, with members paying a closer attention to developments around the cryptocurrency.