Bitcoin cash briefly overtook ethereum's market cap

Bitcoin cash, the cryptocurrency hived off from bitcoin, has rocketed.

Bitcoin cash has shot above $1,900 according to coinmarketcap, more than double its value on Friday when it had already hit a three-month high.

It has been sent higher of the back of a proposed bitcoin fork being suspended.

The Segwit2x split was called off due to a lack of agreement in the bitcoin community. A previous split of the bitcoin blockchain has already gone ahead and created bitcoin cash.

Meanwhile bitcoin plunged below $6,000 early on Sunday morning, though has regained some ground and was at $6,224 at pixel time.

Bitcoin cash's surge had briefly put the market cap of the cryptocurrency at more than $30bn early on Sunday morning and above that of ethereum, making it the second most valuable in the world behind only bitcoin.

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