Bitcoin Cash Gains 18 Percent in Month Outpacing Bitcoin Returns

Bitcoin Cash rose 18.3 percent over a 30 day period, according to 24/7 Wall St. The outlet reported that Bitcoin gained 6.5 percent over the same monthly timeframe. Bitcoin Cash also recorded its largest single day gain in six weeks to reach a valuation of approximately $275. [1]

The price movement for Bitcoin Cash followed plans for CME futures contracts, 24/7 Wall St reported. The report noted that while the futures plan acted as a catalyst for the recent price surge, the market development could also prompt a sudden price reversal. [1]

Meanwhile, broader market reports highlighted mixed conditions for Bitcoin. Cryptonews.net reported that spot exchange traded funds recorded $82 million in capital outflows as the cryptocurrency held the $80,000 level. Separately, Strategy Inc founder Michael Saylor indicated potential future token purchases to add to the firm's 848,250 Bitcoin holdings, according to UToday Crypto News. [2][3]

Bitcoin Cash is a digital currency created in 2017 as a hard fork of Bitcoin. The protocol subsequently split in November 2018 into Bitcoin Cash and Bitcoin Satoshi Vision. Bitcoin was created by Satoshi Nakamoto as a cryptographic payment system and serves primarily as a store of value. [6][7]