Bitcoin (BTC) has hit new record highs now — not in U.S. dollar terms, but against its longtime competitor, Bitcoin Cash (BCH).
Data from Cointelegraph Markets Pro and TradingView confirms that on June 29, BCH/BTC formally set its cheapest ever cost.
CoinFLEX debacle ensnares BCH supporter Ver
Bitcoin Cash, also referred to as “Bcash” by individuals critical from the coin’s ethos and future, acquired prestige in 2017 if this grew to become the very first major hard fork from the Bitcoin network to defend myself against BTC itself.
Several weeks after launching, the altcoin hit highs close to .43 BTC per token, this showing something of the fakeout for investors who’ve spent the intervening period watching its value continuously decline.
Perhaps probably the most vocal BCH supporter, entrepreneur Roger Ver, has nevertheless ongoing to tout its supremacy over Bitcoin, with cost woes getting little effect on his rhetoric.
This month, however, Ver courted debate when reports emerged he owed $47 million in stablecoin USD Gold coin (USDC) to crypto investment platform CoinFLEX.
Ver denies the claims, having a social networking storm ensuing that is ongoing now. Whatever the outcome, its effect on BCH continues to be palpable. On June 29, BCH/BTC fell to new all-time lows of just .005 — 98.83% below its 2017 peak.
The big event wasn’t lost on commentators, a lot of whom appreciated Ver’s insistence that BCH would rise to exchange BTC altogether.
$BCH now less than it had been during the cold months of 2018-2019.
— Alex Krüger (@krugermacro) June 28, 2022
The way it began versus. What it is going:
(Roger Ver / BCH edition) pic.twitter.com/kNcRjsujhU
— K A L E O (@CryptoKaleo) June 28, 2022
Even Bitcoin SV outperforms BCH
For an additional vehement anti-Bitcoin spin-off, everything is barely much better.
Related: Bitcoin’s bottom may not be in, but miners express it ‘has always made gains over any 4-year period’
Bitcoin SV (BSV), the offspring of BCH which emerged during community infighting, hit all-time lows of their own against BTC in May.
Since that time, a modest rebound has happened, taking BSV/BTC to .0016 BTC — only 94.48% below its all-time a lot of .029 BTC seen at the beginning of 2020.
Around the plus side, BSV now buys more BCH than anytime since December of this year.
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