Bitcoin Cash Contentious Hard Fork Precedes Price Decline

2018-11-19 19:19

The Bitcoin Cash hard fork is now behind us, and the future of the fourth largest cryptocurrency by market cap remains uncertain. Last weeks hard fork resulted in both Bitcoin Cash ABC and Bitcoin Cash SV being forked from the original Bitcoin Cash. Whether both of these forked versions will survive and become dominant cryptocurrencies is yet to be seen.

While many markets closed trading to facilitate for the forks unpredictable price impacts, the markets which remain open have seen a steep decrease in the value of Bitcoin Cash. Most markets remain closed, and the value at closing was around $415. Kraken which has remained open now values Bitcoin Cash at around $264. It is likely that when markets reopen, prices across exchanges will readjust to near this level. Bitcoin Cash ABC is currently estimated to be valued around $235 while Bitcoin Cash SV is currently estimated to be valued around $85.

Price continues to steeply decrease in the markets that remain open for Bitcoin Cash. Today’s candle is forming a Maruboze candle. This is a candle with little or no wick but a long body showing strong movement in one direction.

Bitcoin Cash Daily Chart – Source: Tradingview.com Key Takeaways: Most markets remain closed after contentious Bitcoin cash hard fork which took place last week. Markets which remain open are after steeply decreasing. Kraken has Bitcoin Cash trading around $265 and is forming a Marubozu candle. Bitcoin Cash ABC is currently trading around $235 while Bitcoin Cash SV is trading around $85. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Bitcoin Cash Contentious Hard Fork Precedes Price Decline was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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bitcoin cash fork hard both cryptocurrency forked

Источник: blokt.com

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