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Bitcoin Cash News

Bitcoin Cash Surges By More Than 18%, Now Trading At $560

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Bitcoin Cash

In the daily cryptocurrency news this Sunday, Bitcoin Cash (BCH) is leading the way with its new skyrocketing achievement that made it rise by around 20% in the past few days, coming closer to a new price margin and now trading at $560.

The main reason for the rise of this altcoin is the scheduled fork which is expected to happen on November 15th – with that pushing the rumors around BCH and its future roadmap. The support of the original Bitcoin Cash roadmap set forth by ABC by Coinbase, which is the biggest crypto-to-fiat brokerage, led the confidence towards the asset to increase very shortly.

As the Coinbase team officially wrote:

“Twice a year, the Bitcoin Cash (BCH) network hard forks as part of scheduled protocol upgrades. The next BCH hard fork is scheduled for Nov 15, 2018, and Coinbase is prepared to support the published roadmap from bitcoincash.org,”

What started as a jump from $477 to $535 in only 24 hours led to a bullish action by Bitcoin Cash (BCH). As its volume nearly quintupled within a three-day span, this Sunday is again hot in the market for BCH. In numbers, the growth of BCH’s volume is anywhere from less than $200 million to $980 million.

Currently, investors are buying more and more BCH in order to benefit from the fork. Most of the volume of the altcoin, which was concentrated in Asia in the past months, is now composed of buy orders on crypto-only exchanges such as OKEx, Binance and Huobi.

 

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Bitcoin Cash News

Bitcoin Cash Eyes $215 With a Bullish Sentiment Nearby

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The latest cryptocurrency news show that there are many altcoins which could pull off an altseason and surge before Bitcoin (BTC) does that. One of them is the brother of the most dominant coin with a tick BCH. In the news today, we can see that Bitcoin Cash eyes $215 as its next trading zone even though the current price now is at $2019.There is definitely some bullish momentum. Despite the fact that BCH lost close to 2% in value, in October this cryptocurrency rebounded spectacularly towards the end of the month in response to the positive momentum buildup by BTC.However, over the past two months, we can see that BCH lost a lot of its value and now Bitcoin Cash eyes new zones. If you are wondering about trading this coin and if it has a potential to start pushing higher again, the next levels of support are as following.For now, the charts and Bitcoin Cash news show that the price of BCH recovered during late October before crashing around 45% as we moved through November. The October gains were lost and the price came crawling back down to a low of $200 as the huge market wide meltdown hit the coin hard.Last week, no one expected BCH to push higher than $225, but the price reversed and now Bitcoin Cash eyes $215 as it next target. BCH definitely needs to try again and regain support at around $225, but before that needs to establish itself higher.If the cryptocurrency does not sustain this move, it could fall in the one hundred zone and trade below its EMAs for a while. It can recover towards the 200-day EMA even though the market is showing no signs of a recovery just yet. The not so good news is that the volume right now sits at just above $1 billion which is around half of what it was last week.All in all, Bitcoin Cash eyes a new target and if the stabilization continues, we could definitely see it above $210 and close to $215 soon. In a scenario like that, the total cryptocurrency market cap will also go over $200 billion.
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Bitcoin Cash News

Satoshi Impersonator Craig Wright Tries Escaping Paying The Fines

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The popular Satoshi Impersonator Craig Wright doesn’t seem to give up as he is now trying to escape paying the legal fines of about $658,000. Despite losing the well-documented Kleiman case a while ago, he is now trying to avoid paying the legal fees.In our crypto news today, we can see that the Satoshi Impersonator says that he invented bitcoin all the way back in 2009 and proceeded to mine 1.1 million of the coins with his now-deceased partner Dave Kleiman. Kleiman however, died in 2013 after constructing MRSA and left Wright to put the bitcoin into the so-called tulip trust. Kleiman’s brother Ira, sued Wright in February 2018 and stated that some of the mined coins belonged to Dave’s estate despite the research suggesting that the disputed coins were neither owned by Wright nor Kleiman.However, Wright was ordered to list Satoshi’s bitcoin but he failed and presented forged documentation to support his losing case. In August this year, the judge found Wright, not credible and ruled against him by ordering to pay Kleman all the legal costs as well as hand over half of his BTC. This should have ended everything but both parties agreed to delay the proceedings in order to negotiate a settlement out of the court and this was mainly because Kleiman realized that 50 percent of the 1.1 million bitcoins would not actually sum up to that amount.In the latest filing, Wright asked for this to be thrown out entirely and he claimed that the hourly fees are unreasonable as is the amount of the time spent. Unfortunately, it seems that one of Kleiman’s lawyers charged $690 per hour and that both of the lawyers of Kleiman billed for almost 720 hours of work for the two motions and hearing that lasted about 13 hours total. Wright also argued that the motion for the fees was not served in time and this was mainly because of the supposed attempt to come to an out of court agreement.Wright is now trying to get away from paying the fees with the help of poorly forged documents. It is much more interesting that he will have to prove that he is indeed Satoshi Nakamoto in the upcoming Peter McCormack libel case.
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Bitcoin Cash News

Beam, BCH And Zcash (ZEC) Will All Halve Next Year

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There has been a lot of fuss in the latest cryptocurrencies news regarding Bitcoin's halving which is set to occur in May this year. The effect that this will have on the price of BTC is even more alarming as the mining rewards are going to be slashed. However, Bitcoin is not the only coin which is gearing up for a major reduction in the emission rate next year - it appears that Beam, BCH and Zcash (ZEC) will all undergo similar events in 2020.As we can see, halvenings are happening all around the market. Miners will see their rewards halved next year and the issuance rate for several leading Proof of Work networks will be slashed. Bitcoin is likely to occur in mid-May while the Bitcoin Cash news today show that BCH will occur about a month before that. When both of the chains undergo their scheduled four-year halving, the mining reward will drop from 12.5 to 6.25 Bitcoins per block.Beam, BCH and Zcash's ZEC have not all been in the focus of the halvening talk. We only knew about BCH and BTC a while ago, but now this is changing. The main goal that halving achieves is the reduction of mining rewards which is historically associated with an increase in price, as the selling pressure for miners diminishes. This is why the halvenings are happening.Details from analysts show that Bitcoin's halving alone will see $12 million less coins released into the wild each day based on the current prices. Before this event occurs, however, a newer PoW coin will undergo a halving of its own.We are talking about the Beam team - on January 4th Beam will experience a halving which will slash the block reward from 100 to 50 coins. Beam has so far had one halving occurring on January 4 and the next event won't be due for another four years. The total supply, on the other hand, is set to reach 262,800,000.Beam, BCH and Zcash (ZEC) will all undergo halvings. For Zcash's ZEC, this will be the first halving - now scheduled to occur towards the end of the year. Like most PoW coins, ZEC's release schedule is based on Bitcoin's. The release rate for the coin is expected to drop from 50 to 25 ZEC per block.
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Bitcoin Cash News

Bitcoin Cash Spending In Australia Represents 93% Of Total Spend

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A new report is in the Bitcoin Cash news, showing that the Bitcoin Cash spending in Australia has outshined BTC retail spending in a major way during the month of September.The other month when BCH captured 90% and more of the total spend was October where the spending rose to new highs. Now, the website has published the November report outlining that the crypto-based expenditures at retail businesses are growing.The founder of Bitcoinbch.com Hayden Otto has recently published the third monthly Australian Cryptocurrency Expenditure at Retail Businesses report where he said that the Bitcoin Cash spending continues to shine in the region.The altcoin news also detailed that October's numbers mainly derive from "large retail payments" which come from businesses and professionals including “lawyers, accountants, engineers, electricians, and builders.”To source the data for the October report, Bitcoinbch.com used stats from the underwriting firms Travelbybit (TBB) and Hula (Hackings Underwriting Logistics App).
“The Hula system has expanded and provided valuable BCH visibility on the largely hidden retail peer-to-peer economy in Australia. Surprisingly, less than 20% of the Bitcoin BCH merchants are visible via the Hula data, lending confidence to these Bitcoin Cash retail numbers,” Otto wrote when detailing the Bitcoin Cash spending.
“On the other hand, our source of BTC retail data (and that of other cryptos) is more extensive due to their localisation to a single point-of-sale platform in Australia, the Travelbybit point-of-sale (PoS).”A few of the highlights also include that the Bitcoin Cash spending recorded 93% of November's crypto spending in Australia. As far as platforms which allow merchants to accept Bitcoin Cash (BCH) payments in-store, Otto's report detailed that the Bitcoin Cash Register (from Bitcoin.com) PoS shined.
"The Bitcoin Cash platform of choice in Australia is the Bitcoin.com Cash Register App, a simple, effective and very fast point-of-sale system that continues to gain market share from its rivals, recording 93% of expenditure in November up from 90% in the previous month," the research outlined.
All in all, Australia was the first country to see a large populace of BCH-only acceptance. Otto said that not only the region has a high concentration of BCH accepting retailers - the vast majority of the merchants also “walk-the-talk with only a Bitcoin Cash crypto payment option.”
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