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Monday, August 7, 2017

New 'bitcoin cash' crashes 30% Friday in volatile first week of trading: original bitcoin steady

New bitcoin cash crashes 30% Friday in volatile first week of trading: original bitcoin steady

Bitcoin is holding up well against its offshoot rival in its wild first week of trading.


The new "bitcoin cash" plunged 30 percent Friday to below $300, while the original cryptocurrency edged higher and approached $2,900, nearly triple in value for the year.


Bitcoin split into bitcoin and bitcoin cash Tuesday, and the new digital currency has swung dramatically amid limited trading access. Bitcoin cash leaped from around $220 to above $700 briefly Wednesday, before crashing Friday to $287 in early afternoon trade, according to CoinMarketCap, which tracks prices across exchanges.


Digital currency enthusiasts attributed the decline in the last day to an increase in exchanges accepting deposits of bitcoin cash.


Full story at http://cnb.cx/2hBnBct


Source: CNBC


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