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.
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling
‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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