Bitcoin Cash up 25% as trade shows support for the next difficult range

The cash bitcoin community (BCH) has recently been divided by disagreements over the technological upgrades to be implemented on the cryptocurrency network. As a result, its 15 November hard range threatens to split the BCH chain and companies have begun to gain weight.

Part of the community supports the BCH version promoted by the Bitcoin ABC Development Team, the one that originally created the Bitcoin blockchain in August of last year, creating BCH. Another party supports the BCH customer published by nChain, linked to Craig Wright and mining pool operator CoinGeek.

By the announcements made this week, Binance, Bitcoin.com and Coinbase have influenced the price of cryptocurrency. Binance, the largest exchange-traded currency exchange exchange, has announced that it will "take over the future bitcoin range". Although the stock market's statement seems vague, it points to the bitocincashorg GitHub repository, used by the ABC client.

Bitcoin.com, the popular website owned by BCH developer Roger Ver, also revealed that it would take over the ABC client with its mining resource pool, portfolio, block explorer and other services. These two announcements allowed BCH to jump by approximately 10% at the time of publication, from $ 425 to about $ 460.

Shortly after, Coinbase announced its intention to take over the "roadmap published by bitcoincash.org". This means that the San Francisco-based cryptocurrency exchange also supports the ABC client.

In its statement, Coinbase said it would "pause shipments and receptions" so that users can use cryptocurrency when it meets its security standards. He added that he was willing to let his clients access funds from one or the other channel.

We will update our customers throughout the upgrade process and the outcome of the range once the network reaches consensus. In the unlikely event that several viable channels remain after the range, Coinbase will ensure that customers have access to their funds on each channel.

Crypto-currencies have always exceeded the expected ranges, while investors buy them for access to potentially dropable chips. Last year, when the Bitcoin blockchain was created, the holders of BTC were dropped by BCH in a ratio of 1: 1.

Coinbase's announcement contributed to BCH's ramp-up and, according to CryptoCompare's data, increased by more than 25% this week. It is currently trading at $ 534 after rising 12.8% in the last 24 hours.

If big companies continue to side with Bitcoin's ABC client, some analysts say the network disruption may not be too big. Some pointed out, however, that significant losses of hashrate could be dangerous for the cryptocurrency chain.

In addition, it is estimated that the manufacturer of cryptocurrency hardware Bitmain has more than one million BCH in its portfolios. If the company deposits the chips of a chain, their price can easily drop. Earlier this year, the BCH block chain had to increase the size of its blocks to 32 MB and add / re-enable Bitcoin scripting operation codes.