Bitcoin Cash Enters Into A PR War With Bitcoin

There is a serious accusation made on the biggest rival of Bitcoin for trying to up its price artificially. The Bitcoin Cash is in huge demand lately. Antpool is one of the largest mining groups and is an offshoot of Bitcoin cash, the main rival of Bitcoin.

Bitcoin Cash saw a sudden surge of about 25 percent on Friday last that took everyone by surprise. It has taken to the burning of some portion of the coin it receives to solve the puzzles that are the backbone of the network. This reduces the supply of the coins and increases its value. This is a new type of strategy that Bitcoin Cash has adopted to boost its market value in the cryptocurrency world. The war of words between the two arch-rivals in the cryptocurrency world is at its peak on Twitter and Facebook.

The largest holders of both the popular digital tokens are trying to influence the pricing of the coin after they faced huge losses last year. Antpool announced on Twitter and Facebook that it will burn 12 percent of the Bitcoin cash it receives on April 20.

This move is looked at by experts as a trick by Bitcoin Cash to reduce the price depreciation. Only time will tell if this move was a successful one or not.

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About the Author: Colleen Kerr

Colleen is a financial reporter, focusing on technology, national security, and all things mobile. Before joining the BitCoinPlussNews, she worked as a staff writer at Huff Post and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.

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