But first you have to understand the differences of impact in each currency, since it is not the same factor that leads one to fall and another to rise. In the case of bitcoin , the main issue is the return of SegWit2x, which aims to raise the currency block limit from the current 1 to 2 megabytes. This update had been canceled last Wednesday (8) which took a "weight" of future uncertainties of the main crypto-currency in the world. But this is changing.
An unknown group called BitPico promised this sixth to continue the hard fork independently. "We are doing the fork independently of everything that is happening. Supporting the difficulty is now a strategy," he wrote to BitPico. Faced with this, the market again fears what may happen next week, not knowing if the fork will actually occur.
And it is in this scenario that Bitcoin Cash seems to be gaining great support. BitPico claims to have 30% of Bitcoin's mining force and if they decide to migrate to the "split" currency of the original, a lot can change. The Bitcoin .com site and mining pool, led by Roger , has expanded its Bitcoin Cash support and encourages its users to allocate their hashing power to mine in this blockchain.
"Due to the significant demand of our users, the Bitcoin .com pool will give mining consumers the option to support Bitcoin Cash (BCH) with their hashrate, but the Bitcoin .com pool will continue by default by supporting support for the SegWit2x chain ), "the company said in a statement.
In the importable advent of the failure to activate the increase of the size of the block to 2MB, Bitcoin .com will immediately move all the resources of the company for the exclusive support of Bitcoin Cash . "If this is indeed confirmed, Bitcoin Cash it gains much mining power, which improves its system, and this is what may be sustaining the strong rise of the currency.
The scenario has become confusing in the last few hours and experts try to understand all these movements. There are those who distrust the real power of this group BitPico, but in the way of doubts the reaction of the market turns out to be very strong. The next few days will be very hectic.
There's plenty of speculation on the cause of BCH's moonshot launch yesterday, but regardless of whether the price action was natural or forced by a whale and his apostles, the move was a bit much. Friends don't let friends mix fomo and momo. Volume at or near ATH -1.13% on the way up to setting the ATH -1.13% right near the previous ATH -1.13% means a double top resistance and far fewer buyers on the way down. MACD bear crossover will occur in 2hr chart, already occurred in shorter times. Upward momentum is gone. Is it simply pausing to jettison stage 1 before igniting stage 2? If not, it will go down as fast as it went up.