Abstract: BCH hard bifurcation: digital encryption currency collective slump, bitcoin can survive the bifurcation robbery?
[a] financial news: cattle as early as last Thursday (November 15th) morning, bitcoin prices fell below $6000 mark, the minimum fell to $5544, a record low in 2018 to the.
The bitcoin price “diving” influence, the market value of digital currency fell sharply, and for a large number of warning encryption future currency so that investors and traders increasingly worried about.
In the past twenty-four hours, the entire digital encryption currency market together suffer, bitcoin, bitcoin cash (BCH), Stellar and Ethernet coins, Wright currency fell again.
On Monday afternoon, Bitstamp display, bitcoin prices fell below $5200 mark, a record low of October 2017, down nearly 7% days.
So, why the digital encryption currency collective slump?
Bitcoin cash (BCH) hard bifurcation
Bitcoin cash (BCH) hard bifurcation is considered to be one of the causes of the bitcoin prices suddenly dive.
The so-called hard fork, when a digital currency community consensus for the original technology of digital currency differences, in the original chain points out a new chain, and thus produce a new currency, like the branches of bifurcation, and lurking in the technology behind the consensus is often the conflict of interest.
BCH itself is a bifurcation currency bitcoin, 2018 year, the BCH community for disagreement technical route of the coin, the formation of factions, the brewing of hard branch.
The hard split at the 16 March 11 at the final landing, the two sides into a large-scale “war” – that is, by force influence each other currency stability and trade in the short term is difficult without a winner.
Bitcoin prices by reason of great impact is hard to participate in BCH bifurcation both sides hoard rich resources, these resources include a large number of digital currency count machine, stock force, including bitcoin, BCH, the conflict is thought to trigger market panic.
The bifurcation of robbery”
This time, BCH faces a hard bifurcation, is the essence of Craig Steven Wright (Australia is called “Macao Satoshi”) spoiler, BCH community face split situation.
Moreover, some financial institutions and media collective failure to see bitcoin led encryption currency, exacerbated the market selling pressure.
As early as last week, KPMG (KPMG) warned that bitcoin and other encryption currency has not yet been classified as legal tender cases, it is a “stupid as a store of value”:
Encryption currency and asset boom to “system management”, which is expected to achieve this year, but still do not see the specific measures landing, so the global banks and financial institutions are on the sidelines, waiting for regulatory action.
Where under the weight of the coins will go?
A digital currency long-term investors, digital currency fund manager said that the price of bitcoin fell sharply and not just because of some independent events, but bitcoin long sideways to the market confidence consumption, the most fundamental reason is that the market has no money to support prices.
Bloomberg analysts even predict, Bitcoin prices could fall to $1500, than the current level fell more than 70%, which exacerbated investors bitcoin negative emotions.
British journalist Jemima Kelly has been not optimistic about encryption currency. Jemima Kelly said, duplicating things inevitably lack of long-term value, no matter how much added garish things, all in vain.
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