Ninjastic
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Re: The Market Value of Bitcoin Drops Below $100 Billion - CoinNess News
by
Spaffin
on 15/11/2018, 06:10:18 UTC
Quote from: xianbits on November 15, 2018, 05:45:30 AM
Quote from: bitkanu on November 15, 2018, 05:27:42 AM
Quote from: Jie He on November 15, 2018, 04:28:56 AM
Monitored by CoinNess App, as of 03:20 (UTC), the market value of Bitcoin is about $99.2 billion, which is the first time to drop below $100 billion since October 2017. The total market value of the cryptocurrencies decreased by $15 billion within 24 hours.
Does anyone know why?
There was a battle between bitmain and nchain. a lot of hash power have been moving to the bitcoin cash. That makes the miners of bitcoin will be so easy to mine bitcoin and that means they can dump it anytime. Because miners will get more bitcoin to be dumped to the market.
So this should explain why we are in this current scenes. I look around to find an answer and this seems to make sense. But my question is, why move to bitcoin cash? Is this related to BCH hard fork?
How can a hard BCH plug cause the current bitcoin drop by 11 percent, if BCH itself fell in price by almost 18 percent, that is, even more than bitcoin itself? The reason for the current fall is something else. It cannot be said that there is no reason either, it happened too quickly and abruptly. Let's see what happens next, maybe the reason will be found.