Bitcoin Cash Price Gets Skewed due to Exchange Trickery

Negative Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest.

Bitcoin Cash Value Fluctuates Heavily

Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed.

Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more.

Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well.

Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just "Bitcoin Cash" or "BCH" should be avoided, as most users can never be sure which currency is effectively being traded under this name.

All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing.

It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will - under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down - with might not necessarily happen anytime soon - the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

11/17/2018 / 09:55:37 Source: themerkle

News | Price Analysis | bch | Bitcoin Cash Price | Network Split | | BTC|Trading|Exchange
BTC
1 BTC=$3,483.58
XRP
1 XRP=$0.3081
ETH
1 ETH=$91.05
XUC
1 XUC=$2.08
EOS
1 EOS=$2.01
BCH
1 BCH=$97.97

News Feed 50

Cointelegraph Neutral - #Bitcoin, Ripple, Ethereum, Stellar, EOS, Bitcoin Cash, Bitcoin SV, Litecoin, TRON, Cardano: Price Analysis, Dec. 12 read more.
12/12/2018 / 19:35:00
Ccn Neutral - Romania: Bitcoin Exchange CEO Vlad Nistor Arrested for Money Laundering, May Face US Extradition read more.
12/12/2018 / 19:33:59
Bitcoinmagazine Neutral - Bitwala Is Offering German Citizens Joint Crypto and Fiat Banking Accounts read more.
12/12/2018 / 19:32:55
Cryptopotato Neutral - #Ethereum Price Analysis Dec.12: Where Do You Go, Ether? read more.
12/12/2018 / 19:15:59
Bitcoinmagazine Neutral - This New Lightning Wallet Allows You to Receive Tips Without Running a Node read more.
12/12/2018 / 19:09:26
Ethnews.Com Negative - IBM Hopes To Strengthen 'Do Not Call' Registries With Blockchain read more.
12/12/2018 / 19:01:22
Cryptoglobe Neutral - Cryptocurrencies Should Be 'Outlawed’, Allianz GI CEO Claims read more.
12/12/2018 / 19:00:02
Bitcoinmagazine Neutral - The World’s First ERC-20 and Bitcoin Atomic Swap Has Taken Place read more.
12/12/2018 / 18:50:19
Bitcoin.Com Neutral - BCH Devs Discuss Securing Instant Transactions With the Avalanche Protocol read more.
12/12/2018 / 18:45:59
Ccn Neutral - ‘What is Bitcoin’ Ranked Among Top Google Searches in 2018 read more.
12/12/2018 / 18:32:05
Cryptopotato Neutral - What’s The Real Reason Behind Coinbase Not Listing Ripple XRP? read more.
12/12/2018 / 18:24:32
Cointelegraph Neutral - Russian Deputy Prime Minister: Draft Crypto Legislation Won’t Be ‘Significantly’ Edited read more.
12/12/2018 / 18:20:00
Bitcoinmagazine Neutral - Prosecutors Seek 10-Year Jail Sentence for Karpeles Over Mt. Gox Embezzling read more.
12/12/2018 / 18:15:29
Cointelegraph Neutral - Dutch Central Bank Proposes License Requirement for Cryptocurrency Service Providers read more.
12/12/2018 / 18:14:00
Cointelegraph Neutral - Russian Draft Bill Blocking Suspicious Financial Websites ‘Could’ Cover ‘Scam’ ICOs, Experts Note read more.
12/12/2018 / 18:05:00
Cryptoglobe Neutral - UAE, Saudi Arabia to Jointly Launch Cryptocurrency for Interbank Transactions read more.
12/12/2018 / 18:00:51
Bitcoinist Neutral - Coinbase Slammed For Venezuela ZCash Airdrop Being an ‘Advertising Strategy’ read more.
12/12/2018 / 18:00:25
Trustnodes Neutral - Southern Europe Signs Blockchain Accord, House Bill to Promote Cryptos, CFTC Requests Comments on ETH, Augur Faces a Governance Question read more.
12/12/2018 / 17:59:57
Blokt Neutral - XYO Will Launch the Blockchain Satellite ‘EtherX’ into Space Using a SpaceX Falcon 9 read more.
12/12/2018 / 17:59:36
Cointelegraph Neutral - IBM Research Teams up With Agritech Firm to Boost African Agribusiness with Blockchain read more.
12/12/2018 / 17:51:00
Blokt Neutral - Galaxy Digital’s Mike Novogratz Narrates His Crypto Journey, Says He Is Still Bullish read more.
12/12/2018 / 17:34:31
Newsbtc Neutral - Crypto Exchange OKEx Relists Bitcoin ABC Under Original Bitcoin Cash (BCH) Ticker read more.
12/12/2018 / 17:30:31
Bitcoin.Com Neutral - Bitwala Begins Offering Bank Accounts With Bitcoin Wallet and Debit Card read more.
12/12/2018 / 17:15:05
Ccn Neutral - Bitcoin Price ‘Could Go from Bad to Worse’: Bearish Analyst read more.
12/12/2018 / 17:11:23
Coindesk Neutral - Ethereum’s Geth Software Upgrades Ahead of January Hard Fork read more.
12/12/2018 / 17:00:47
Cryptoinsider Neutral - Dogecoin is more decentralized than NEO, IOTA, NEM, Stellar, and Nano read more.
12/12/2018 / 17:00:23
Cryptoglobe Neutral - UK-Based Exchange CEX.IO Moving To Mandatory User Registration read more.
12/12/2018 / 17:00:00
Newsbtc Neutral - Only 4 Crypto Exchanges Have 100,000+ Active Users read more.
12/12/2018 / 16:59:30
Trustnodes Neutral - Most Cryptos Very Close to the Bottom Says This Week’s Technical Analysis read more.
12/12/2018 / 16:29:15
Coinspeaker Neutral - Electronics Giant Samsung is Allegedly Planning to Launch ‘Blockchain Smartphone’ read more.
12/12/2018 / 16:27:03
Cointelegraph Neutral - Canadian City of Calgary Launches Local Digital Currency for Intracity Transactions read more.
12/12/2018 / 16:21:00
Blokt Neutral - EOS Breaks Downward Trend as Market Leader Bitcoin [BTC] Finds Support read more.
12/12/2018 / 16:14:13
Cointelegraph Neutral - Germany’s Second Largest Stock Exchange, SolarisBank Partner to Launch Crypto Exchange read more.
12/12/2018 / 16:12:00
Blokt Neutral - IBM May Offer Blockchain-based Solutions to Indian Telcos read more.
12/12/2018 / 16:09:41
Cointelegraph Neutral - Allianz Global Investors CEO Says Crypto Assets Should Be ‘Outlawed’ read more.
12/12/2018 / 16:07:00
Ccn Neutral - Razer Wants Gamers to Mine Cryptocurrency Using their Idle GPUs — But You Probably Shouldn’t read more.
12/12/2018 / 16:01:42
Blokt Neutral - Full-Blown Reversal for the Price of Factom [FCT] read more.
12/12/2018 / 15:59:59
Trustnodes Neutral - Bitcoin Tops “What is…” Google Searches in US and UK read more.
12/12/2018 / 15:51:01
Cointelegraph Neutral - China: Shenzhen Special Economic Zone to Use Blockchain for Electronic Tax Invoices read more.
12/12/2018 / 15:50:00
Blokt Neutral - Ripple’s XRP Continues Range Trading As Market Leader Bitcoin [BTC] Finds Support read more.
12/12/2018 / 15:48:21
Ccn Neutral - What is Holding Coinbase Back From Integrating Ripple (XRP) Into its Exchange? read more.
12/12/2018 / 15:35:52
Cryptoglobe Negative - #Ethereum (ETH) Price Analysis – December 12 read more.
12/12/2018 / 15:28:49
Bitcoin.Com Neutral - Netherlands to Regulate Cryptocurrencies in Bid to Curb Money Laundering read more.
12/12/2018 / 15:15:35
Blokt Neutral - Bitcoin [BTC] Tests Key Support Level – Bullish or Bearish? read more.
12/12/2018 / 15:14:47
Newsbtc Negative - Billionaire Mike Novogratz Says Crypto ICO Market is Pretty Much Dead Now read more.
12/12/2018 / 15:09:15
Cointelegraph Neutral - India’s Telecom Regulator Completes Mobile Blockchain Pilot with IBM read more.
12/12/2018 / 15:09:00
Cointelegraph Neutral - Crypto Exchange Coincheck’s Owner Monex to Launch Crypto Trading in US starting Q1 2019 read more.
12/12/2018 / 15:04:00
Blokt Neutral - TRON Giveaways and Promotions Kickoff for the Holiday Season read more.
12/12/2018 / 14:59:14
Cointelegraph Neutral - Developers Test Cross-Blockchain Protocol for One-Way ERC20-Bitcoin LN Atomic Swaps read more.
12/12/2018 / 14:51:00
Cryptoglobe Neutral - Former Mt. Gox CEO Mark Karpeles Facing Possible Ten-Year Prison Sentence read more.
12/12/2018 / 14:45:00
Negative
4.5%
Neutral
94.4%
Positive
0.9%
Mixed
0.2%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.