The rise and fall of Bitcoin Cash: games in the cryptocurrency market continue
The magic of the word Bitcoin extends to its forks: the bitcoin cash coin, which has just appeared as a result of the separation from bitcoin, already falls into the headlines, starting to grow after the older brother.
When the infrastructure of the cue ball returned to normal, Bitcoin owners discovered the same amount of Bitcoin Cash. True, the condition for this was support by the exchange or a purse of new cryptocurrency. The fork rate immediately after stabilization was not bad, something around 300 US dollars per coin. Opinions about the future of Bitcoin Cash are divided. Skeptics were immediately in the majority: it is understandable - no one really knew what to do with the new currency, where to put it and how to mine. The high complexity of mining (now it has fallen) and a hazy future have limited the interest of miners to Cash. A limited number of stock exchanges are still working with him, and at first, the forks supported only a few. But the “alternative Bitcoin” keeps afloat and even manages to surprise analysts with the unexpected dynamics of the course.
It all started on Saturday, August 19, when the price of the fork in the cue ball quickly exceeded $ 900 . It became clear that someone shows a special interest in Bitcoin Cash: a jump in “three of its growth” from $ 300 to $ 900 is, of course, not without reason.
Who are these mysterious fork sympathizers? According to the CoinMarketCap resource, more than 50% of the total trading volume of the new round was passed through three exchanges from South Korea a few days ago (by the way, the Asian mark in the history of cryptocurrency is very noticeable). These are Korbit, Bithumb and Coinone. Only in the second half of August 18, about half of the total trading volume of Bitocin Cash was conducted in Won .
So far it is difficult to understand what caused such a stormy interest of Koreans in Bitcoin Cash - especially since the mining of this coin is not very profitable yet. But, in any case, after the climb we see a much more positive picture than at the very beginning.
The most interesting thing is that the complexity of mining Cash should soon fall by 50%, since this weekend the recalculation was started after block 479808. As a result, it may become even more profitable to produce a fork than the original currency. True, provided that the high rate of Cash remains.
So far, most large sites refuse to work with Cash. But over the past couple of days the regiment of major players on their side has arrived: the two largest mining pools, Antpool and BTC.com, have begun to mine an alter-ego cue ball. And this is despite the fact that on August 17, the head of Antpool denied the existence of such plans. Representatives of Antpool hinted at the possibility of starting mining forks, but too vague for the miners to pay attention to this.
But in a short time, everything changed.
First, the BTC took over the work, and then Antpool joined him, who mined the 480084 block. Now they are already displayed on the mining chart Bitcoin Cash from Coin.dance.
However, for a long time, the bitcoin cash was not enough. The price of Bitocin Cash began to fall sharply, just one day falling to the level of $ 596.
However, even such a sharp decline can hardly be a threshold for a further fall in the fork price. Either the demand for Cash has decreased, or some stabilizing factors have worked that have not given the course of the fork of the cue ball to drastically break out for $ 1000.
Guess what will happen next, we will not. But it is already clear that Bitcoin Cash will not just disappear from the radar: its capitalization has already reached $ 9,992,543,445. Not bad for a newcomer who immediately ranked third in the list of the most popular cryptocurrencies in the world. The market is hot, and the bitcoin fork, even if it is supported by a relatively small number of large pools, still looks more reliable than many new cryptocurrencies that appear like mushrooms after rain. Those who want to mine it at least “to be” will be quite enough to secure a future for it.
By the way, if you have a cue ball, but on wallets that do not support fork, there is a solution to how to get around this problem. The solution was proposed by the BTC staff, and as far as can be judged, it is really working.
When the infrastructure of the cue ball returned to normal, Bitcoin owners discovered the same amount of Bitcoin Cash. True, the condition for this was support by the exchange or a purse of new cryptocurrency. The fork rate immediately after stabilization was not bad, something around 300 US dollars per coin. Opinions about the future of Bitcoin Cash are divided. Skeptics were immediately in the majority: it is understandable - no one really knew what to do with the new currency, where to put it and how to mine. The high complexity of mining (now it has fallen) and a hazy future have limited the interest of miners to Cash. A limited number of stock exchanges are still working with him, and at first, the forks supported only a few. But the “alternative Bitcoin” keeps afloat and even manages to surprise analysts with the unexpected dynamics of the course.
It all started on Saturday, August 19, when the price of the fork in the cue ball quickly exceeded $ 900 . It became clear that someone shows a special interest in Bitcoin Cash: a jump in “three of its growth” from $ 300 to $ 900 is, of course, not without reason.
Who are these mysterious fork sympathizers? According to the CoinMarketCap resource, more than 50% of the total trading volume of the new round was passed through three exchanges from South Korea a few days ago (by the way, the Asian mark in the history of cryptocurrency is very noticeable). These are Korbit, Bithumb and Coinone. Only in the second half of August 18, about half of the total trading volume of Bitocin Cash was conducted in Won .
So far it is difficult to understand what caused such a stormy interest of Koreans in Bitcoin Cash - especially since the mining of this coin is not very profitable yet. But, in any case, after the climb we see a much more positive picture than at the very beginning.
The most interesting thing is that the complexity of mining Cash should soon fall by 50%, since this weekend the recalculation was started after block 479808. As a result, it may become even more profitable to produce a fork than the original currency. True, provided that the high rate of Cash remains.
So far, most large sites refuse to work with Cash. But over the past couple of days the regiment of major players on their side has arrived: the two largest mining pools, Antpool and BTC.com, have begun to mine an alter-ego cue ball. And this is despite the fact that on August 17, the head of Antpool denied the existence of such plans. Representatives of Antpool hinted at the possibility of starting mining forks, but too vague for the miners to pay attention to this.
But in a short time, everything changed.
First, the BTC took over the work, and then Antpool joined him, who mined the 480084 block. Now they are already displayed on the mining chart Bitcoin Cash from Coin.dance.
However, for a long time, the bitcoin cash was not enough. The price of Bitocin Cash began to fall sharply, just one day falling to the level of $ 596.
However, even such a sharp decline can hardly be a threshold for a further fall in the fork price. Either the demand for Cash has decreased, or some stabilizing factors have worked that have not given the course of the fork of the cue ball to drastically break out for $ 1000.
Guess what will happen next, we will not. But it is already clear that Bitcoin Cash will not just disappear from the radar: its capitalization has already reached $ 9,992,543,445. Not bad for a newcomer who immediately ranked third in the list of the most popular cryptocurrencies in the world. The market is hot, and the bitcoin fork, even if it is supported by a relatively small number of large pools, still looks more reliable than many new cryptocurrencies that appear like mushrooms after rain. Those who want to mine it at least “to be” will be quite enough to secure a future for it.
By the way, if you have a cue ball, but on wallets that do not support fork, there is a solution to how to get around this problem. The solution was proposed by the BTC staff, and as far as can be judged, it is really working.
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