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Bitcoin Cash Price Increased by 54%

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Another hardfork led to a sharp rise in the price of Bitcoin Cash. During the day it increased by 15%. However, after the fork, the situation may change, since the owners of BCH will become the owners of two independent wallets.

In what way is bitcoin cash hardfork held?

For the Bitcoin Cash team, hardfork is a familiar procedure that takes place at least twice a year. This event is designed to optimize the work of the blockchain, make it faster and safer. However, the event scheduled for November 15 may be more special.

The fact is that the nChain team plans to release a new cryptocoin after carrying out hardforks. As a result, all current BCH owners will receive another wallet. An asset from nChain will be placed on it, in an amount equivalent to previous accumulations. The name of the coin received as a result is still unknown, but the credibility of its creators gives hope for a significant increase in its value.

Dynamics of Bitcoin Cash cost

It is noteworthy that the largest cryptoexchange in North America, Coinbase, supported hardfork Bitcoin Cash. After this announcement, BCH's trade turnover rose to $ 980 million. This is three times the usual figure for the asset. As a result, the price of the coin rose to $ 477 per day, that is, by 15%. The weekly increase in the cost of Bitcoin Cash was 54%, up to $ 640. This was influenced by the fact that the Poloniex Exchange has already announced the support of two tokens at once.

Now it is difficult to say how much Bitcoin Cash will cost after November 15. The situation is reminiscent of the classic "dividend gap." Therefore, many exchange platforms suspend payment acceptance in BCH until it is cleared. Almost all trading platforms temporarily prohibit margin trading with this asset, since it now carries increased risks. However, usually tokens quickly regain their value, and the situation is unlikely to drag on for a long time.

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