Bitcoin cash has been placed into circulation on August 1st 2017. as a hard fork from the original Bitcoin. At this time all holders of Bitcoin were awarded an equal amount of Bitcoin Cash which has been recorded into the Bitcoin Cash blockchain. To understand text above there are some questions that need to be answered:
What is a fork?
It is a situation when the same technology on which is Bitcoin based has been applied to the Bitcoin Cash. Simply reason for that is that Bitcoin Cash wouldn\'t have to start its development from the beginning, it can just use well known technology especially blockchain technology which is considered as number one factor in Bitcoin success.
Why has it been created?
In July of 2017, 97% of miners voted for the BItcoin Improvement Proposal (BIP). All of this members agreed that system requires an expansion of blocksize capacity to increase transaction time and block size time. In this case Bitcoin will be used for the transaction which is its main purpose and not for investment purposes.
It is one of the leading cryptocurrency trading provider and they announced that it would not support Bitcoin Cash as it failed with its purported merits and value, but later they announced that they will start supporting Bitcoin Cash by January 1st 2018.
What can be expect going forward for Bitcoin Cash?
Ethereum Classic was a hard fork from Ethereum in 2015 and this is recorded as a successful hard fork in cryptocurrencies history. The value of this hard forked currency is very volatile but it has value in its own right. This could also be similar trend to the Bitcoin Cash but the popularity of the original Bitcoin could be crucial for the Bitcoin Cash popularity.
What has been the response so far?
Many owners of Bitcoin Cash are just waiting for the price to increase so they could sell their coins, there are no many people that are expecting the rise of the adoption rate and popularity of Bitcoin Cash which will increase its demand and price.