Bitcoin Cash has risen by 33% today! It is currently trading at $1,588. The rise in price, which follows an announcement two days ago by Bitstamp (one of the main Crypto currency exchanges) stating they will list Bitcoin Cash. Other exchanges such as Coinbase also plan to list Bitcoin Cash, which could see the price surge even more in the coming months.
On November 3 whilst Bitcoin Cash was priced at just over $600, we predicted that we would not be surprised to see it continue to rise (see post here). We did not expect the rise to happen so quickly! We are still of the view that Bitcoin Cash has a lot to offer! However, it is still highly volatile at the moment and its battle with Bitcoin will continue for a while yet.
More information on Bitcoin Cash can be found here.
Our Crypto of the week last week was Ethereum! We posted this whilst the price was at $351 – it has now risen to $402. As previously stated, we have a lot of admiration for the team behind Ethereum at the moment. Vitalik Buterin (co-founder), is an extremely intelligent and dedicated guy. We expected Ethereum to reach this price a couple of months ago but attention was drawn towards Bitcoin with its numerous hardforks.
As always with Crypto’s it is hard to predict exactly what direction they will follow. It is a very volatile market and news of a new currency or a government ban etc can have huge implications on price.
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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.