Following the news that the NYA Segwit2x upgrade to the network was cancelled we saw a sharp rise to nearly $8000 for Bitcoin, then it declined rapidly back to $7200. Over the past 24 hours it has paddled around this range until finally today we saw a big pullback to below $6500, since then it has regained some and currently sits at $6600.
Meanwhile Bitcoin Cash has made some significant gains over the past 24 hours, rising almost 50%, BCH currently sits at $911 at time of writing.
With this we also hear today from the team over at Bitcoin Classic that they are shutting down as they predict Bitcoin Cash will over rule Bitcoin within 6 months:
It is now up to the next billion people to start to use Bitcoin Cash. In at most 6 months I’m sure we’ll just drop the “Cash” and call it “Bitcoin”.
Along with Roger Ver annoucing he is switching all is hashing power over to Bitcoin Cash the next few months could be very interesting indeed.
As usual, we’ll keep you posted. In the meantime it’ll be worth keeping your eye on the markets, especially Bitcoin (BTC) and Bitcoin Cash (BCH), we expect some further pullback on Bitcoin possibly to below $6000, which is healthy, however, if Bitcoin Cash continues to climb beyond $1000 while Bitcoin continues to fall you may want to consider seriously where you believe the Future of Bitcoin lies.