Bitcoin and Bitcoin Cash

There are very active hours at the top of the cryptocurrency charts.. In the last 48 hours, Bitcoin price has seen falling graphics close to $ 2,000, while Bitcoin Cash price has seen increasing graphics above $ 1700.. It is understood that Bitcoin and Bitcoin Cash price fluctuations are experiencing a period that affects each other.. For 3 months, Bitcoin was unaffected by the existence of Bitcoin Cash, until the Segwit2x update team announced on November 8 that they had given up on it.

The Segwit update could mean the growth of Bitcoin blocks, thereby relaxing the network and lowering transfer rates, as well as lowering transfer fees.. The segwit developers, who thought that the number of the group supporting it was not enough, started to see a significant decrease in the price of Bitcoin as soon as they announced that they were suspending it.

You can see the charts of Bitcoin and Bitcoin Cash for the past week,

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You can clearly see the reverse parallelism between the two graphs.. Bitcoin Cash is on the rise when Bitcoin is on the decline. It is quite clear that Bitcoin investors, who are Segwit2x supporters of the connection between Bitcoin and Bitcoin Cash, use Bitcoin Cash as an alternative to valuation of their assets. hit its high of $2,477. This means exactly what this means: A group of Bitcoin investors sell their existing BTC and go with those assets and buy Bitcoin Cash.

The falling BTC price with the sudden selling triggers the BCH price which is increasing with the sudden buying.. If these movements were permanent, we could call these charts a collective action, or even a move that spurs the Bitcoin and Bitcoin Cash war.. However, we can say that the short duration of these charts resembles the short-term price increase and decrease called pump and dump in crypto currency exchanges.

Bitcoin and Bitcoin Cash transaction volume record

At the time of writing the article Bitcoin price has risen to its early November level and is trading above $6,200. Its market value is $100 billion.. However, Bitcoin’s last 24-hour trading volume was $9 billion and reached a new record.

Bitcoin Cash, on the other hand, is trading at $1,500.. BCH has reached the highest daily trading volume in the history of cryptocurrencies, with a figure of $ 11 billion in 24-hour trading volume. The total market value has exceeded 25 billion dollars.

Disclaimer: The information in the article is for informational purposes only.. It does not constitute any investment advice.. The author and hostagons.com/ are not responsible for your profit or loss arising from the investments you make.. Investment is ultimately based on many foundations such as knowledge, experience, research and personal decisions.

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Brief summary with bitcoin infographic