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Bitcoin Cash Rally slows down as traders price in possible fork

Bitcoin cash is moving down against the news of an upcoming technical changes.

31.Oct.17 11:06 AM
By Daria Zaytseva


Bitcoin Cash Rally slows down as traders price in possible fork

After last week, it collected more than 30 percent, and the prices for it increased by a five-week high to $522.95, the exchange rate bitcoin cash - US dollar (BCH / USD) is $438 during the press release, which is slightly below the level of $415 yesterday.

Nevertheless, this step is not without reason, since an attempt to update the basic software of the project seems to be slightly distorted.

The developers of bitcoin cash explained yesterday that they intend to promote a correction for code designed to make its mining network more stable as soon as November 1. But while those who stood behind the effort, tried to position it as sufficiently proven, noting that it won’t take an effect until November 13, the market reaction was more mixed.

Notes in social networks indicate that users may be concerned about the lack of coordination between the developers and how the blockchain, that is the original bitcoin code, plus the increase in block size, can compete with Segwit2x, another fork that could launch in mid-November.

Despite the obvious problems with the fork, price analysis shows that the market prefers bulls, while the effects of the hard fork are not too harsh.

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