Expert Opinion: BCH Hard Fork Crypto Rally Stops While Bitcoin Hash Rate Continues to Rise


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Expert Opinion: BCH Hard Fork Crypto Rally Stops While Bitcoin Hash Rate Continues to Rise

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro.”

  • Rally in crypto markets thanks to BCH Fork losses steam
  • Nearly all leading cryptocurrencies were flat or down in red over last 24 hours
  • Bitcoin’s transaction rate continues to push forward yet the price remains stable

Crypto rally loses steam as BCH fork date arrives

The drama on crypto street regarding BCH fork might not have ended but definitely, the rally in crypto markets that was driven by the forking news has fizzled out. Over last 24 all major currencies were reported mostly in read with only XRP and BCH just getting into green while report. Overall a mixed November for coins and token compared to last year when the rally erupted.

Price
Source: Coinmarketcap.com

Source: coinmarketcap.com

 

Price
Source: https://www.etoro.com/

Is this the end of all the news and speculation that had fuelled the crypto markets for over a week now.  Will we see a slip off from here again or will the markets get into hibernation mode as it was before the BCH fork triggered the rally.

The BCH community still stands divided as we are less than 2 days away from the fork.  Where is this heading and where will all this end only time will tell. Let’s wait and watch

Bitcoin TPS continues to rise

While prices still stay undecided, the Bitcoin TPS is seen rising. A positive indication that adoption of Bitcoin is on the rise. The price yet does not have any impact of this news but still, there is hope that prices will soon react to this fundamental positive indicator.

Author: Mati Greenspan
Mati Greenspan is the Senior Market Analyst at eToro, a global social trading and investment platform. Mati is a licensed portfolio manager in the European Union and his main focus is on macroeconomic analysis, portfolio diversification and cryptocurrencies. Follow him on Twitter at @matigreenspan
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Mati Greenspan 45 Articles
Mati Greenspan is the Senior Market Analyst at eToro, a global social trading and investment platform. Mati is a licensed portfolio manager in the European Union and his main focus is on macroeconomic analysis, portfolio diversification and cryptocurrencies. Follow him on Twitter at @matigreenspan
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