Bitcoin, Bitcoin Cash, Bitcoin Gold and SegWit2X, a crazy week at Satoshi house
The Bitcoin market is at a complete moment, where this cryptocurrency falls in value, Bitcoin Cash shoots up, while the SegWit2X fork is canceled and Bitcoin Gold is nowhere from starting the mainnet.
We are facing a complex four-way situation within the cryptocurrency market. This week everything has happened and there are still things to happen in the last hours of the day of the week and those that will happen next week. We come from the CME Group announcement to include Bitcoin futures trading, something that caused this currency to rise a lot. This week we learned that the SegWit2X, scheduled for the end of the month, will not be implemented due to the low consensus. This movement caused Bitcoin to pass $ 7.750 and immediately began to fall.
The fall of BTC has caused as a rebound effect that the value of Bitcoin Cash touches its all-time high past $ 1.400, rising a lot between Friday afternoon and this weekend. BTC has fallen to $ 6.300-6.500 and the capital that has left this cryptocurrency has gone to BCH, in a curious movement and it seems that some members of Bitcoin Classic want to close or put aside this cryptocurrency and bet by BCH, which has caused a large increase in its value. The situation is so complex that even these members within Bitcoin Classic claim that BCH can be converted into BTC, although this is very complicated.
The third element that is causing BitPico instability, a completely unknown user or user group that demands the implementation of SegWit2X and whose real identity is unknown. This entity (let's call it that for now), also wants to forcefully implement the fork, even if the users do not want to. In addition, among the threats are leaving the BTC network and they claim to have 30% of the network's hash, so it would be a problem, although this information cannot be verified, unfortunately.
We close the plot with Bitcoin Gold, the cryptocurrency that opens mining this afternoon at 20:00 p.m. in Spain. This cryptocurrency was born as a fork of BTC, which aims to return the mining of cryptocurrency to users, thanks to making use of Equihash, which allows mining with a graphics card and processor, without the need for specific mining rigs. How much also with other advantages, among them that the difficulty is scaled individually in each block and that its blockchain works in parallel with BTC, so we can mine Bitcoin Cash and make an automatic change to Bitcoin, without having to perform the operation at home exchange.
