What’s new on Bitcoin Market: Huge Crush and Bitcoin Cash

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On November 13, Bitcoin made the miners nervous.The rate of the world’s major digital currency fell by almost 30% and was traded below the mark of $ 6,000. But by the middle of the day, the price of the “coin” unexpectedly began to grow again.

bitcoin-news-picture

Source: www.coindesk.com

What are the reasons?

On November 8, bitcoin hit its maximum price – $7882, but this week, due to the outflow of investors who began to use Bitcoin Cash more frequently, it fell by approximately 29%.

The investors’ interest in Bitcoin Cash is related to the large size of the cryptocurrency unit, which allows making transactions faster and cheaper.

Previously, the crypto community and traders said they were expecting the next bitcoin software by the middle of November – SegWit2x.

bitcoin-news-picture

Source: sebfor.com

It could completely destroy Bitcoin Cash, but the developers suddenly canceled plans for the hard fork.

Probably, the Bitcoin Cash mining may become more profitable, despite the market changes, so the miners will start leaving bitcoin, lowering its transaction capacity.

Also, the risks of price changing in the cryptocurrency field are primarily associated with a huge number of non-professional players on the digital market.

The price of bitcoin can easily change to $1000 or even to $100 if, for example, its Chinese holders decide to sell their stocks.

That is why the growth of bitcoin price isn’t something you should be glad about as it will sooner or later lead to loss of money of non-professionals.

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