BCH’s Price Has Now Fallen 50% Since the Fork – Trustnodes

BCH’s Price Has Now Fallen 50% Since the Fork

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The combined price of BCH and BSV has now fallen to about $300, down by 50% from BCH’s pre-split price of circa $600.

Making this the very first time that a coin has lost a substantial amount of value in a chain-split, with previous splits having the combined price at pre-split levels or above.

There are currently wide variation between exchanges as some have opened deposits while some have not, making arbitrage difficult.

On Poloniex, for example, the combined price is at circa $290. While on Bittrex, which has opened deposits, it stands at circa $330 with BCH at $250 and BSV at $80.

It is unclear what exactly exchanges are waiting for. Coinbase, for example, has not yet opened even BCH trading, let alone deposits and withdrawals.

On other exchanges trading continues, but deposits and withdrawals are not available now four days since the fork.

Both chains have operated without any problems since the split on November 15th, with Calvin Ayre of Coingeek stating: “SV either becomes #BCH or goes its own way.”

Meaning they have now accepted that there will be two coins, thus any shenanigans at the protocol level appears unlikely.

BTC’s mining profitability is also down from more than 100% at one point to now 30% with some normality returning to BCH on the network front.

On trading, however, much is still suspended. In previous splits, Coinbase did not even halt the trading of the main coin, yet here they have for some reason.

Deposits and withdrawals in previous splits were opened just hours after the fork, while here it has been days and still normality has not returned.

What exactly they waiting for, is not clear, with this fork seemingly not handled very well at any level. Making it by far the worst chain-split ever by any measure.

Copyrights Trustnodes.com

 

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Marshall Dwyer
November 20, 2018 11:17 am

Is Calvin Ayre the CEO of Bitcoin SV?