The price of the bitcoin cash has fallen to a low point. The instability of the cryptographic currency market, combined with a dispute about the future of bitcoin cash, leads to large sales of the virtual currency. As a result, the price is falling dramatically, even to a low point that has not been seen in the past year and a half.
That’s what the Silicon Angle site writes today. Bitcoin cash is a rival cryptographic currency of the bitcoin and a demerger of the relevant cryptographic currency that was launched in August 2017. It is the fourth largest crypt currency of the moment, looked at the market share. The creators of bitcoin cash immediately knew the market in prices, by giving everyone with bitcoin the chance to collect the same amount of bitcoin cash during the split-off.
Discussion about the future
But at the moment there is a big dispute about the future of bitcoin cash. Roger Ver and his camp believe that the protocol of bitcoin cash should change to what is called the bitcoin ABC. At the same time, there’s Craig Wright, an Australian who once claimed to be bitcoinmaker Satoshi Nakamoto, and who wants the protocol as it stands to be, to stay that way.
Wright will probably win the battle, but the result is already that Ver is working with his support on his own separation of the bitcoin cash. It’s called bitcoin ABC. As Ars Technica points out, the controversy is based on a bitcoin cash. It is not clear why it affects the value of mainstream bitcoin or other cryptic currency. But the trading cryptic currency has a clear pattern: if one falls in value, so does the rest.
Considerable fall in value
Not surprisingly, the value of bitcoin cash has fallen sharply. In the past seven days, the currency has lost 30 percent of its value. At the moment the currency is at $428.63. At the height of the cryptographic currency hype, the value of bitcoin cash was $4,091.70, which means that it has lost 90 percent of its value in the last twelve months alone.
Other crypt currencies, including bitcoin, ethereum, litecoin and ripple, also contributed between ten and twenty percent of their value.
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.
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