Bitcoin cash is falling back from its record $1,000 high

 
Lynsey Barber
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Bitcoin cash has been on the rise (Source: Getty)

Bitcoin cash, the new cryptocurrency offshoot, has fallen back from record highs recorded just yesterday.

After peaking above $1,000 it fell to $739 at pixel time, according to coinmarketcap.com.

Bitcoin cash was formed last month from the hard fork of the bitcoin blockchain and surged 40 per cent in a single day on Friday entering $600 territory, but it has also been volatile, touching an intraday low on Thursday of $293.​

Read more: Initial Coin Offerings: Are they a solution to Bitcoin woes?

It has quickly become the third biggest cryptocurrency behind bitcoin and ethereum.

Meanwhile, the price of bitcoin has fallen back from record highs of $4,500 last week and was trading af $4,134 at pixel time.

Cryptocurrency prices have rocketed in recent weeks as they become more attractive to mainstream investors.


(Source: coinmarketcap.com)

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