Bitcoin and Bitcoin Cash traders fasten your seat belts.<\/p>\n
The Bitcoin market has been experiencing big gyrations lately. Bitcoin has lost 8% of its value in the last seven days, while Bitcoin Cash has gained close to 109%.<\/p>\n
What\u2019s driving this change in fortunes between the two digital currencies?<\/p>\n
\u201cThe biggest driver of the price gyrations is the battle for bitcoin STILL being waged between Bitcoin and Bitcoin Cash,\u201d says Brian Kelly CEO & Founder BKCM LLC. \u201cNew money entering space, people buying a “free dividend,” and Bitcoin OG whales dumping Bitcoin for bitcoin cash,\u201d adds Kyle Samani Managing Partner, Multicoin Capital.<\/p>\n
Then there\u2019s hype and fear that exaggerates these price gyrations. Hype in the case of Bitcoin cash, as new money doesn\u2019t want to miss out on the big run-up. And fear in the case of Bitcoin, as old money rings the cash register.<\/p>\n
| Coin<\/td>\n | 7d change*<\/td>\n<\/tr>\n |
| Bitcoin (BTC)<\/td>\n | -8.09%<\/td>\n<\/tr>\n |
| Bitcoin Cash<\/td>\n | 108.90<\/td>\n<\/tr>\n |
| Ethereum (ETH)<\/td>\n | 14.03<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n The trouble is that, unlike conventional assets, it is hard to calculate the intrinsic value of Bitcoin and Bitcoin Cash. That makes it difficult to determine whether hype and fear have made the two digital currencies overvalued or undervalued and whether it is time to buy or sell either one.<\/p>\n That\u2019s what makes investing in cryptocurrencies a guessing game\u00a0—\u00a0which digital currency will gain broad acceptance as a medium of exchange and store of value.<\/p>\n \u201cI think both Bitcoin and Bitcoin Cash are a great bet. \u00a0Bitcoin is the Monetary Base and Bitcoin Cash is the transactional currency similar to a global M1,\u201d says Kelly.\u00a0\u201cThere is no reason for acrimony, each currency addresses a distinct market and they should be able to be complimentary.\u201d<\/p>\n Samani sees things differently. \u201cIn the long run, I believe the medium of exchange and store of value will collapse into a single currency. I am therefore more aligned with the vision of Bitcoin Cash. However, I think it’s unlikely that Bitcoin or any of its forks fulfill that vision. There are many other teams who I believe are far more likely to become global, fiat-free, Crypto cash. Ethereum has the best shot. But it could be others. It’s still very very early.\u201d<\/p>\n And it is very very confusing to the average investor, who may end up staying away from both Bitcoin and Bitcoin Cash.<\/p>\n Meanwhile, turbulence in the Bitcoin market is here to stay. And that makes Bitcoin and Bitcoin Cash investments extremely risky. Investors can lose a great deal of money in a short period of time.<\/p>\n \u00a0<\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin and Bitcoin Cash traders fasten your seat belts. The Bitcoin market has been experiencing big gyrations lately. Bitcoin has lost 8% of its value in the last seven days, while Bitcoin Cash has gained close to 109%. What\u2019s driving this change in fortunes between the two digital currencies? \u201cThe biggest driver of the price…<\/p>\n","protected":false},"author":2,"featured_media":4650,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-4649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-planning","category-investment"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/posts\/4649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/comments?post=4649"}],"version-history":[{"count":2,"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/posts\/4649\/revisions"}],"predecessor-version":[{"id":5082,"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/posts\/4649\/revisions\/5082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/media\/4650"}],"wp:attachment":[{"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/media?parent=4649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/categories?post=4649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/business-plans.com\/blog\/wp-json\/wp\/v2\/tags?post=4649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |