Bitcoin and Ethereum Price Forecast – Bitcoin Splits, Ethereum Moves Higher

A new digital currency is about to be created as the bitcoin blockchain is forced to split in two. They weren’t able to do that by the deadline this morning as a result of which Bitcoin has now split into two: Bitcoin and Bitcoin Cash.

We plan to temporarily suspend bitcoin buy / sells, deposits and withdrawals on August 1, 2017 as the fork is likely to cause disruption to the bitcoin network.

Segwit2x proposes moving some of bitcoin’s transaction data outside of the block and on to a parallel track to allow more transactions to take place. While the two use almost similar software, not all Bitcoin exchanges and establishments will accept Bitcoin Cash. Some bitcoin exchanges, where users make transactions and store their coins, will recognize Bitcoin Cash, including Kraken and ViaBTC – but others like Coinbase and Poloniex said they wouldn’t as they’re uncertain it’ll stick around. It’s a Catch-22 situation where Bitcoin Cash’s value is determined by how much it is used, but its adoption is determined by its value.

Investing.com offers an extensive set of professional tools for the financial markets. “If demand is big we should consider adding it definitely.No one should lose Bitcoin Cash on our platform”.

There has been a disagreement between miners and users of Bitcoin over how to ensure scalability of the digital currency, cost and the speed of transaction. As bitcoin has grown, payment delays have become more common and worrisome.

In the face of SegWit2x, another group in the world of Bitcoin has come forward with a different solution.

To resolve the matter, Bitcoin Cash increased its blocksize to 8MB as part of a massive on-chain scaling approach. The idea is that the split will balance out – the value of Bitcoin Cash will be deducted from the value of bitcoin.

The nascent Bitcoin Cash – it’s so new that, unlike most digital currencies, it doesn’t have a logo yet – comes as the industry is confronting growing pains, with a chorus of market participants urging for the adoption of software updates that would facilitate larger, speedier transactions. Still, that hasn’t stopped a rapid ascent for Bitcoin Cash. So basically if you have a balance in Bitcoin right now, then you would have the exact same balance in Bitcoin Cash.

The new currency was trading above USD400 about twelve hours after it was created, while the price of bitcoin proper was around USD2,750.

The good news is that if you hold your own private keys as we have been urging Secret Crypto Network subscribers to do, you now have the same amount of bitcoin cash (BCH) as you do bitcoin (BTC).