What will happen with the Bitcoin Cash blockchain?
Is there a way to predict what will happen with the new blockchain, appeared after forking Bitcoin in August.
Bitcoin Cash price has changed so drastically in only 3 weeks, that it will be hazardous to try and predict, how it will go in the long run.
Lately, the Bitcoin Cash blockchain is not functioning at all most of the times and many exchanges had refused to list the coin or accept deposits. But these are nothing compared to the fact that more than 75% of the coin supply,was already mined and and some is already sold or waiting to be sold.
On the other hand, when it comes to mining profitability, a push of positive-successful vibe to the supporters of the fork comes after realizing how much the mining worthiness increased now compared to Bitcoin.
These facts were discussed by Samson Mow, chief strategy officer at Blockstream, on an article on fortune.com
In this article, Samson is worried about the attack of clone coins, including Bitcoin Cash here.
Wheater this growth is real or artificial, that remains to be seen while looking at the graph and trying to guess if it will go again below 300$ or will start rising even more.
Only in the last 2 days, Bitcoin Cash surged more than 90 percentage point and according to coinmarketcap.com, in the last 24 hours, Bitcoin Cash had a trading volume bigger than Bitcoin, of $3,885,410,000.
The price started to rise immediately after the new network successfully mined the first 8mb block.
If we analyze the latest signals, we can’t see Bitcoin Cash under 300$ again soon, but any rise that could be faster and quicker than ever that reaches uncharted territories that could be sometimes not explained follow up with a correction so be cautious as the same could happen to BCH in the following days.
Add the new fork announced bySegwit2x and things are getting even more complicated and harder to predict.