Yesterday, Dr. Craig Wright announced on Twitter he was ready to take Bitcoin (BTC) up to $ 1000 if that's what it takes to win Bitcoin Cash's hash war. The self-proclaimed creator of Bitcoin and chief scientist at the blockchain nChain development company, which is estimated to own millions in BTC, is collaborating with Calvin Ayre of the Bitcoin Cash CoinGeek mining pool to ensure that its Bitcoin Cash fork wins on the fork of Bitmain- it has supported the development company BCH Bitcoin ABC.
However, Roger Ver, CEO of Bitcoin.com and supporter of the Bitcoin ABC fork, does not have much confidence in the "Satoshi & # 39; s Vision" (SV) fork by Wright. He put the odds that Wright's team would win the hash war at 10: 1 against. Jonathan Bier, head of research at the BitMEX cryptocurrency exchange giant, echoed the statements made in a recent Bloomberg interview.
"The chain will split into two, but the economy will support the ABC and will reject SV (Satoshi's Vision) .SV will have a low price and the miners will leave it in a few weeks.This is my prediction . "
Irrelevant to those who win, the hash war could potentially destroy Bitcoin Cash and break down the rest of the cryptocurrency market. The crash of today's market may be the result of Wright or another whale who sells BTC to finance the hash war. Analysts also pointed out that the Bitcoin ECM futures yesterday reached a trading limit, causing a stop-loss order cascade to come into effect. Another popular theory that goes around is that investors are collecting annual "Black Friday" Christmas sales. However, it is highly unlikely that even a large percentage of small-scale investors who make cash-outs can have such a drastic effect on the market all at the same time.
Whatever the cause, it is offering an excellent buying opportunity for new investors to enter the cryptocurrency at a low level. While the fall may initially scare some panic sellers, since it lowers the low price it should attract new money.
Bitcoin (BTC) is currently down 12% to around $ 5,500, the lowest level since October last year. Critical media amount to $ 5,300 which, if violated, could start accelerated decline. The market crisis seems to slow down, with most of the coins exchanging horizontally in the last hours.
The Ripple XRP token is better off the storm and has briefly taken second place from Ethereum in the market rankings, with a market capitalization of $ 18 billion. The 14% loss of Ethereum led its capital market to $ 17.9 billion, but recovered from over $ 18 billion.