The analysts of the stock market for the last time do not have time to determine the causes of its collapse, making assumptions on several fronts. Among the reasons are the recent decisions of the Commission, US securities, but most agree that the impetus for the collapse was hardwork of Bitcoin Cash, and the ongoing war of Harrachov two resulting chains.
It is hard to fork accuse Bitcoin has fallen to its lowest level since early may 2017 because of the ongoing chaos in the Bitcoin community Cash never ceases to shock investors.
Very “hard” to plug the stock market
Bitcoin Cash, as you know, he is a hard fork of the Bitcoin network, which took place in August 2017. Now the network of the BCH itself was divided on Friday on two chains, one of which, BCHABC supports Roger Ver and his supporters, and the other BCHSV Craig Wright, the Australian who claims to be informed by Satoshi Nakamoto.
Although the time Bitcoin Cash seceded peacefully from the Bitcoin network, now conflict with hardforum BCH continues to shock cryptologist. The problem with separation is that in the battle for control of the Bitcoin network Cash, chaos on the stock market continues to grow.
Some exchanges now offer trading ABC BCH and BCH SV. Others, such as Coinbase Inc, continue to offer only one option BCH, others give support to one of the options.
And easy compromise on the horizon are expected as the fight for dominance and therefore control over Bitcoin Cash occurring due to the support of the miners and of the owners of BCH increases.
War of Harrachov depletes the resources of the network
In addition to market instability, according to analysts, the fall in the price of Bitcoin may partly depend on the war of Harrachov, which “exhausted the resources of the Bitcoin computing”, reducing the demand for mining of the original cryptocurrency”.
Whatever the reason, the result is not much optimism, because at that time Bitcoin was trading at a price of $4 775,98, which is the lowest level since may 1, 2017, losing more than 12% for the day. The fall has affected all the leading altcoins: Ripple fell about 5%, Ethereum decreased by 13% and Litecoin — 15%.
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