Written by Andrew Marshallformer writerReviewed by Igor Belkinformer editorBitcoin Cash Might Soon Be Worth 1/10 of Bitcoin
MagazinePublishedNov 16, 2017
After a hectic weekend, both BTC and BCH are returning to the last week’s trends.
Thursday, Bitcoin Cash (BCH) price has dipped below the important psychological level of $1,000 - the value of one coin has fallen as low as $993. This follows a hectic weekend, during which the cryptocurrency has experienced a meteoric rise to its all-time high of $2,477, coupled with Bitcoin (BTC) temporarily dipping below $6,000.
By now, however, it is apparent that the ‘flippening,’ predicted by some of the BCH’s most enthusiastic supporters, is not happening any time soon. Bitcoin Cash retraces to its established levels around $1,000 while BTC is maintaining dominance.
In fact, Bitcoin continues breaking all records, as it blew right past the $7,500 mark and is now at around $7700, owing in large part to the news about the CME Group announcing Bitcoin futures trading.
The current price fluctuations are a reflection of the ongoing competition between the two coins for the place of a ‘true’ Bitcoin, with the supporters of both solutions being sharply divided over their differences.
Cointelegraph will continue monitoring the market and reporting on the price movements of Bitcoin and Bitcoin Cash.
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