The week that began on 11th November and ended on 17th November has been a hectic one for crypto enthusiasts all over, as everyone watched the BCH hash war take new turns and twists. The crypto economy has, generally, lost billions since the last market update was done, and by Sunday 18th November, it was reported that the market had lost approximately $188 billion.
Lowest Values In The Entire Year
A number of digital coins markets have been riding out their lowest lows since the year began. This has left the traders and market analysts very curious to see what will happen next. Because of the Bitcoin Cash hard fork that happened on the 15th of November, the entire last week was filled with all sorts of confusions. Several enthusiasts in this market strongly believe that the Bitcoin Cash hard fork moved all the markets as a result of the economic dispensations used in fighting the battle.
At the moment, Bitcoin Core is trading for $5,593 per Bitcoin, with a total market valuation of $97 billion. There is one thing that many market enthusiasts failed to notice in the course of the hash war, and that was the fact that XRP – Ripple replaced ETH – Ethereum and occupied the second place. XRP holds the second largest market cap, which is worth $20 billion and today, each Ripple was being swapped for $0.50.
The Market Action For Bitcoin Cash
The weekend has closed with Bitcoin Cash still holding the fourth position. However, the witnessed fork has depleted the entire pre-fork money that had gone to the market in the previous weeks. At the moment, Bitcoin Cash is trading for $381, and this is a great improvement considering the $296 low it witnessed on the 15th of November.
Even though it would be good to notice that several established exchanges stopped their Bitcoin Cash trading over the last couple of days, markets such as Bittrex have resumed their BCH operations. Bitcoin Cash pairs are very interesting mainly due to the lack of good trading vessels. Ethereum is currently dominating the Bitcoin Cash pairs by 56%, and this has been going on for the last 24 hours.
Great Market Action Expected By Traders
As the week kicks off, traders are eagerly waiting for more exchanges to resume their Bitcoin Cash markets. When that happens, some strongly believe that the price could wildly move in any random direction. On the other hand, the proponents of the cryptocurrency are also very curious as to what will occur to the markets at a time when the new coin, Bitcoin Satoshi Vision is waiting to be introduced.
A number of Bitcoin traders are very confident that the crypto exchanges will hesitate to list the Bitcoin Adjustable Block Chain as Bitcoin Cash. Kraken support, for instance, has made it clear that the ABC chain will be awarded the glorious Bitcoin Cash ticker. Huobi Global, on the other hand, told its customers that the BCH ABC will be retained as Bitcoin Cash. The CEO of the Colombian based Panda exchange Arley Lozano has also said that Panda is also planning to list ABC as BTC.