íàçâàíèå

Bitcoin Cash: ABC Futures Cross $300 in Hard Fork Aftermath

Bitcoin Cash: ABC Futures Cross $300 in Hard Fork Aftermath

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 merely reflect which protocol traders support in near-term.

Source: Poloniex

Hard Fork Live

The long-anticipated hard fork of the Bitcoin Cash blockchain has gone live already, with reports confirming that the first mined block comes from the BCHABC protocol, even though SV boasted a much larger hashrate in the days preceding the split.

BCH holders can expect to see wild fluctuations over the next 24 hours. Wright has threatened to begin a 51 percent attack on the Bitcoin ABC blockchain if his SV gains a majority of the hash-rate on the network. While ABC expects to draw hash power from Bitmain’s bitcoin hash pools, the overall ugliness of the situation could lead BCH to new lows and may even threaten the original bitcoin’s value for a while.

If Wright manages to get hold of the Bitcoin Cash network, then he may be harming SV more than anybody else. The SV chain won’t be decentralized anymore due to his actions — which could simply mean no users. A likelihood of investors moving away from every coin that is named after bitcoin is high in that case.

In the best case scenario, the two chains ABC and SV can coexist together without shedding blood. While BCH will still be affected by all the negatively, the probability of its recovery will be higher than usual.

Featured Image from Shutterstock

15.11.2018 / 14:00 29
Breaking: Bitcoin Cash Hard Forks — BCH Hash War Begins Breaking: Bitcoin Cash Hard Forks — BCH
Minutes ago, Bitcoin Cash activated a hard fork that splintered the fourth-largest cryptocurrency’s network into at least two competing versions,
Bitcoin Cash: Pre-Fork Uncertainty Forces OKEx to Close Futures Market Early Bitcoin Cash: Pre-Fork Uncertainty
Facing significant price instability ahead of tomorrow’s contentious Bitcoin Cash hard fork, major crypto exchange OKEx abruptly closed its BCH
Bitcoin Cash Pre-Fork Trading Sees Dislike for Craig Wright’s Chain Bitcoin Cash Pre-Fork Trading Sees
The upcoming Bitcoin Cash hard-fork triggers some interesting opportunities. Numerous exchanges offer pre-fork trading of BCHSV and BCHABC. Both
Bitcoin Cash: Pre-Fork Trading Doesn’t Bode Well for Craig Wright’s Camp Bitcoin Cash: Pre-Fork Trading Doesn’t
Partisans in the looming Bitcoin Cash civil war now have the opportunity to put their money where their mouths are, and that money is quickly piling
Circle’s Poloniex Is Offering Support for Bitcoin Cash Hard Forks Circle’s Poloniex Is Offering Support
Customers of Poloniex cryptocurrency exchange can trade in BCHABC and BCHSV pending the Bitcoin Cash hard fork. Poloniex is the first exchange
Comments (0)
Add a comment
Comment on