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Post-fork situation: Bitcoin Cash Still Losing Value - Global Coin Report
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Post-fork situation: Bitcoin Cash Still Losing Value

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Bitcoin Cash
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Following the November 15th hard fork of Bitcoin Cash (BCH), the fourth largest digital currency by market cap, the crypto market entered a new period of recovery. However, this does not include Bitcoin Cash itself, which is currently the only coin in the top 10 that is trading in the red.

While almost every crypto in the top 100 experienced significant losses in the last several days, the situation has turned once again. Many see this as proof that the drop was a one-time incident and not the return of a bearish trend. At the time of writing, only a handful of altcoins in the top 100 are trading in the red. Bitcoin Cash itself is leading this downward trend and is still losing value, with its current price being at $405.89, with a 7% drop in the last 24 hours.

It has a trading volume of $736 million, with over $116 million being traded on OKEx. Apart from OKEx, a large part of BCH trading volume is held by Coinbit — around $73.9 million.

The cause of a price drop

As stated previously, the drop in value came as a result of a hard fork which was expected for a long time. However, the situation became complex due to the fact that two parts of the BCH community — Bitcoin ABC and nChain — had different ideas of how BCH should continue its development. As a result, the upgrade to BCH blockchain on November 15th resulted in BCH splitting into two chains.

One of them was named Bitcoin Cash ABC, while the other one is Bitcoin Cash SV. The team at Bitcoin ABC is led by the CEO of Bitcoin.com, Roger Ver, as well as Bitmain’s Jihan Wu. As for the nChain’s team, it is led by Calvin Ayre and Craig Wright, who aim to make Bitcoin SV (Satoshi’s Vision) a reality.

Prior to the fork, Roger Ver stated that the event will likely be more of a show and less of a real problem. He was quite vocal about the fork, and BCH in general, for a long time. He even stated that most arguments regarding the network come down to operation aspects, instead of fundamental differences. Everyone involved agrees that BCH should remain the world’s currency and that it should be used for payments, purchases, and alike.

It is currently unknown when will BCH stabilize, and whether it will regain its previous value. Many even speculate whether or not it will manage to remain the fourth largest coin. For now, experts, analysts, and the crypto community itself are following the situation and awaiting further development.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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