Downtrend in Crypto Market Continues as BCH Falls

Twitter Facebook LinkedIn Over the last 24 hours, the valuation of the crypto market has fallen from $185 billion to $181 billion, by around $4 billion. On November 15, amidst one of the worst single-day corrections in all of 2018, the crypto market saw a wipeout of more than $27 billion. The market extended losses throughout the past two days. Bitcoin Cash, even with the combined value of Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC), has fallen by more than seven percent. Subsequent to the fork, the price…

Both Camps in BCH ‘Hash War’ Are Mining at Major Loss

In the aftermath from yesterday‘s Bitcoin Cash (BCH) hard fork, both opposing camps in the so-called “hash war” are mining at a hefty loss, according to a tweet from the research arm of Hong Kong-based crypto derivatives platform BitMEX today, Nov. 16. On Nov. 5, BitMEX Research announced it would be launching a network monitoring tool for both Bitcoin (BTC) and Bitcoin Cash (BCH), specifically in preparation for the widely-anticipated BCH hard fork Nov. 15.   As previously reported, disagreements over a proposed network upgrade have split the BTH community…

Bitcoin Market Cap Below $100 Billion as BCH Hard Fork Spooks Investors

Twitter Facebook LinkedIn It has been more than 24 hours since bitcoin scared investors with a sudden 10 percent drop. But there hasn’t been a concrete recovery action — yet. The bitcoin-to-dollar exchange rate has surged 2.21 percent from its previous low at 5291-fiat, now trading at 5408-fiat. The coin’s market cap has risen likewise but remains below the three-figure billion dollar valuation. The weekly chart on Coinbase indicates BTC/USD is testing the support area of a giant falling wedge formation. Technically, a falling wedge formation predicts a potential breakout…

SV Price Improving as BCH Fork Nears; ABC Behind

Twitter Facebook LinkedIn With bitcoin cash mining its first forked block, the futures prices of SV and ABC are fluctuating wildly. The BCHSV futures price jumped 10.7 percent against the US dollar, rising from $88.12 to $97.51 within just an hour — before sinking below $90 after the fork. Meanwhile, the BCHABC futures price rate saw a 9 percent decline, declining to $273.50, before rallying to a high of $341 after the fork activated. As both the derivatives are working in the absence of an actual market cap, the price fluctuations…

BTC/USD Increasing Demand ahead of BCH Hard Fork

Aside from regulatory involvement, uncertainty in other blockchains often draws demand for Bitcoin as a store of value. It did happen before and three days before Bitcoin Cash software upgrade, capital could flow into Bitcoin lifting prices above $6,600 igniting short term bulls aiming for $7,200. Latest Bitcoin News Still, Bitcoin Cash is one of the most fluid and valuable coin in the space. Though hash rates and decentralization levels pale in comparison with those of Bitcoin, it is still important to track its development. On Nov 15, a software…