Tuesday, 21 November, 2017

Bitcoin Drops below $6000 as Bitcoin Cash Surges

Bitcoin Cash Obliterates Other Cryptos, Rising 40% on Korean Buying As Bitcoin Felt Below $7000, Bitcoin Cash Raised Above $800 Surging 30%
Laurie Berry | 12 November, 2017, 17:37

Bitcoin Cash has gone from a price of $313 to a high of $2,400 in one month.

BSE Sensex trades flat; capital goods stocks downOn Wednesday around 1800 GMT, it had touched $7,888 after a software upgrade planned for next week that could have split the cryptocurrency in two was suspended. Despite the fact that the plan originally enjoyed about 95% of Bitcoin's hashrate backing it, support had been waning with an increasing pace and many influential signers backed out of the NYA on Wednesday morning. Initially, the news sent bitcoin up near $7,900 per coin. The hard fork could have succeed if most participants agreed on the proposal, but instead of that, the company faced with the lack of consensus putting the whole network under the risk of splitting.

Vitalik Buterin, the co-founder of Ethereum, congratulated Bitmain founder Jihan Wu and bitcoin angel investor Roger Ver on the recent success of Bitcoin Cash, particularly in the South Korean market.

As of November 12, Bitcoin is trading below $6000.

Pare: Providence will release body cam footage of officer-involved shooting 'soon'
The truck tried to keep going anyway, ramming a small vehicle stopped in front of it and shoving it to the side. Kilmartin's office either declined to comment when contacted by the Globe or could not be reached for comment.

But, SegWit2x supporting businesses and their executives including Xapo President Ted Rogers emphasized that the short-term price trend of Bitcoin Cash has been inorganic and unsustainable, given its 100 percent increase in value within a single day, and the concentration of the trading volumes in the South Korean cryptocurrency exchange market. However, it is important to acknowledge that miners always follow the more profitable blockchain, as they are rewarded with higher returns for producing blocks of transactions. At press time, its exchange rate is traded at $876.50, according to CoinMarketCap.

And that means there's plenty of more time for the BCH community to rally around their coin and win more converts to their cause.

Despite losing nearly seven percent during this week, bitcoin is still up more than 600 percent so far this year.

The massive demand for selling Bitcoin increased the clogging of the network, further revealing that Bitcoin has severe scaling issues. The analysts say that both options are possible, it still remains to be seen.

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