Published on November 13th, 2017 | by bitcoin0
Bitcoin damage extra $US2000 in three days
A powerful sell-off has swept through the Bitcoin market, wiping more than $US2000 off the cryptocurrency’s price in less than 72 hours, with investors instead pouring into Bitcoin Cash, a spin-off crypto-asset.
The bitcoin community has devolved into an antagonising fight among developers and different fights among miners.
Bitcoin is down 25 per cent since last Wednesday’s record high of about $US7800, while Bitcoin Cash has more than doubled to $US1500 over the same four days.
It’s caused a broader panic sell in bitcoin and a panic buy in Bitcoin Cash.”
For a period over the weekend it was more profitable to mine – verify – the Bitcoin Cash blockchain than the original bitcoin, causing further delays and congestion in the original bitcoin blockchain.