Last week we posted our ‘Crypto of the Week‘ which was Bitcoin Cash.
We stated that Bitcoin Cash had largely gone unnoticed, as all eyes were on Bitcoin. This week we have seen the collapse of Segwit2x causing many investors to sell their Bitcoins. Bitcoin’s price has dropped from $7550 on 5th November to $6,718 as of the time of writing.
Whilst Bitcoin has been dropping in price, Bitcoin Cash has capitalised on the recent drama and has climbed 27% today alone (currently trading at $805). Bitcoin Cash already offers a much faster transaction speed than Bitcoin. Segwit2x was purporting to increase the speed in which Bitcoin transactions take place, however this failed to materialise. Bitcoin Cash’s faster technology appears to be attracting investors who are now becoming enticed into buying this coin, which at the moment is Bitcoin’s biggest threat.
It’s been a very interesting, fun and eventful week for Cryptocurrencies. We have thoroughly enjoyed all the events that have taken place in this growing community. Expect much more to come.
Please Subscribe for free by entering your email address below. You can always unsubscribe easily if you don’t like us anymore!
We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.