Friday, 28 July 2017

Bitcoin (BTC) Crash? Futures Price For Bitcoin Cash (BCC) Plunges 50%, BTC Up 7%

Bitcoin is surging higher as Bitcoin Cash (BCC) futures value crashes 50 percent just before its proposed Aug. 1 activation date.

Data from ViaBTC shows the Bitcoin fork, which does not even exist, fell from around 0.15 BTC to 0.08 BTC per coin within the last few 24 hours.

A correction has since got underway to 0.109 BTC, still around a 27 percent daily loss.
Reacting to the figures, highlighted by entrepreneur and investor Alistair Milne, commentators on Twitter were quick to ascertain it had been the project's fate.

However, official angles on BCC have now been more nuanced. Exchanges have either emerge with statements of support or have adopted a hands-off method, suggesting possible however not guaranteed interaction with BCC at a later date.
Yesterday, the European exchange HitBTC announced it'd join ViaBTC in offering futures trading for the fork, just before crediting customer accounts with coins on both forks.

Meanwhile, Bitcoin's price continues to maneuver higher, passing $2,700 to attain a 24-hour most of $2,742, in accordance with averaged exchange data from Coinmarketcap.
By comparison, Ethereum (ETH) remained stagnant, hovering just above the $200 mark, and other coins in the most effective 10 cryptocurrencies saw only modest movement.

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