Bitcoin came under increased pressure overnight. At Coinbase, the cryptocurrency price plummeted to a low of $ 14,000. Although the Bitcoin could recover shortly thereafter, but some investors are already wondering whether it could soon turn the trend.
The crash was caused by the introduction of Bitcoin Cash on Coinbase. The interest of the speculators was so high that the crypto exchange had to stop trading after a few hours already. The BCH / USD price hit a high of over $ 9,000, while Bitfinex and the other exchanges posted a high of $ 3676. Bitcoin Cash is slowly gaining more and more trust from the crypto community.
What advantages does Bitcoin Cash have over the classic Bitcoin?
Robust blockchain technology
The founder of Bitcoin.com announced in an interview yesterday that he has sold all Bitcoins and his money is now invested in Bitcoin Cash. As a reason Oldenburg called the high transaction costs and slow execution of the classic Bitcoin. Average transaction costs rose from $ 0.20 to $ 15 this year.
How the fight Bitcoin vs Bitcoin Cash will end, nobody knows now. But before you sell all Bitcoins and put them in Bitcoin Cash: The cryptocurrency is currently used primarily for speculation, and not primarily as a payment method. Many speculators are not much interested in the technical point of view, but hunt for the highest possible return.