Hi, crypto-curious Medium community! During the previous week, there has been quite a bit going on in the crypto world. In What’s Hot? ChangeNOW offers weekly reviews of the most interesting and trending happenings on the crypto market. Last week has been a rough one, so here are the three major events that led us to where we are now.
Now, what was the community talking about this week?
Bitcoin Cash Hard Fork
Certainly the most trending, important and scandalous event this week. Fourth largest cryptocurrency has split into two chains — Bitcoin ABC (BCHABC) and Bitcoin SV (BCHSV). The events surrounding the fork, also known as the “hash war” have heated the already-tough situation to the max and split the community into two battling forces. The detailed description of what has been going on can be read in ChangeNOW’s blog (https://changenow.io/blog/bitcoin_cash_hard_fork/)
Two forked coins are already in trade and supported by the major exchange services.
Bitcoin price sinks
The price of the most popular cryptocurrency, BTC, dipped to a new yearly low. The period of Bitcoin 6000-fiat stability has abruptly come to an end literally within one day. Such a sharp crash cannot be explained from the point of technicalities and must have a more serious reason to happen — it will most probably take a while for the market to fully recover and understand the reasons for a decline in price. As for now, we can see the flush of green from the market getting up from its knees. The growth, however, is still quite slow at the time of writing.
The market crashes
There has been a lot going with the market prices this week. Not only Bitcoin found itself struggling, but the whole market was in red on the 15th November 2018. All ten of the top cryptocurrencies have lost more than 5 per cent with the exception of Tether (USDT), a Dollar-backed stablecoin.