Bitcoin faces a pivotal moment as investors are about to receive an entirely new asset called Bitcoin Cash after the blockchain supporting the cryptocurrency is forced to split in two.
"The creation of Bitcoin Cash is certainly a pivotal moment for Bitcoin and its community," Charles Hayter, founder of digital currency comparison website CryptoCompare, told CNBC on Monday.
"The inception of Bitcoin Cash may prove to be exactly what Bitcoin needs."
On August 1, a "user-activated hard fork" will take place. Members of the Bitcoin community unhappy with the direction of the digital asset have set up an alternative 'node' called Bitcoin ABC.
Luke Graham | CNBC