Bitcoin drops below $5,000, hitting the lowest level in over a year

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It is worth noting that cryptocurrency mining giant Bitmain's CEO - who is known to hold a significant amount of BCH - publicized his intentions to sell all his SV on Saturday.

Bloomberg cited Travis Kling, saying that he "didn't sleep well" due to the turmoil created by the recent Bitcoin Cash Hard fork.

Some criticized the forecast as being overly bullish, while others emphasized the difficulty of accurately forecasting what a digital currency's price will be five years from now.

By way of example, if you were running a sha-256 mining operation on Bitcoin Cash and were making $10,000 United States dollars in profits per hour, you could have been making $14,000 instead, just by deciding to mine for BTC blocks (assuming they are sold off immediately back to USD). Be part of the community that wants to let the original Bitcoin show the world its true power as sound money and so much more. The digital coin has lost 11.8% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap.

Bitcoin continued plunging Tuesday, falling another 9 percent to below $4,500, knocking off almost a third in value of the world's best-known cryptocurrency's losses within a week as a selloff in digital currencies intensified across the board.

Independent Reserve halted all trading in BCH at around 9pm last Thursday, prior to the hard fork.

With the November 15 protocol upgrade, Bitcoin Cash-with Bitcoin SV-has finally come of age, and it's no longer a dev experiment, but a mining-backed project. The official message board for Bitcoin Cash is bitcointalk.org. The official website for Bitcoin Cash ABC [IOU] is www.bitcoinabc.org.

The figure also assumes that everyone renting hash is actually finding blocks, or that most or all of the hash being used to win blocks in either chain, at present, is rented. Hence, they believe it doesn't need radical changes. The bottom doesn't seem to be visible now as bitcoin is breaking one support level after another. It would also increase the block size of Bitcoin Cash to 128MB from 32MB, hence increasing the scale and capacity of the network.

Far from selling, however, traders of major platforms such as UK-based eToro have doubled down on their positions, buying more and more Bitcoin instead of divesting themselves of existing holdings. Some of the trading platforms involved in this are Coinbase, poloniex, Bitstamp, and others. Kraken raised several "red flags" for traders asking them to be careful about it. One of the spokespeople said.

As of right now, both chains have continued to work at a stable pace, but as it continues to progress, the ABC Chain is still taking a commanding lead over its contemporary, SV Chain.

Bitcoin Cash ABC [IOU] is a coin.

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