Bitcoin Cash price bottoms; community says hello to Bitcoin ABC and Bitcoin SV
|- The Bitcoin community is forced to deal with the hard truth and accept Bitcoin ABC and Bitcoin SV.
- Bitcoin Cash plummets 32% on Friday; it’s over for BCH.
Bitcoin Cash is no more following the November 15 hard fork. The community is forced to deal with the hard truth and accept the split chains; Bitcoin ABC and Bitcoin SV. The confusion before the fork was galore and to tell an ordinary investor to find his funds in the two split chains is not only mundane but a sad reality.
Exchanges have already started preparing for the two tokens. Coinbase and other exchange platforms had stopped all BCH buying and selling prior to the hard fork. The exchange communicated to its customers that it the trading will only resume when the network has stabilized. In the meantime, it is a wait and see scenario for Bitcoin Cash new tokens.
Poloniex exchange has been very straight forward with the Bitcoin cash hard fork. The company told its followers on Twitter it had successfully converted all BCH balanced to both BCHABC and BCHSV. Moreover, BCH buying and selling had be halted and market for the above new tokens opened. The message read:
We’ve finished converting all BCH balances to BCHABC and BCHSV. The BCH market is now disabled. BCHABC/BTC, BCHSV/BTC, BCHABC/USDC, and BCHSV/USDC markets are open. Deposits and withdrawals of BCHABC and BCHSV are still paused, and will remain paused until the networks stabilize.
Bitcoin Cash is trading at $306 after suffering a 32.15% drop on the day. The crypto still holds the 4th position in the market with a market cap of $7 billion and a 24-hour trading volume that stands at $750 million.
More on Bitcoin Cash, Bitcoin SV and Bitcoin ABC:
Bitcoin Cash hard fork D-day: BCH/USD rebounds
Goodbye Bitcoin Cash, welcome Bitcoin ABC and Bitcoin SV
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