RATE Group | Bitcoin Cash Fork Chaos, XRP Jumps Ethereum: This Week In Cryptocurrency
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Bitcoin Cash Fork Chaos, XRP Jumps Ethereum: This Week In Cryptocurrency

17 Nov Bitcoin Cash Fork Chaos, XRP Jumps Ethereum: This Week In Cryptocurrency

Posted at 19:47h in Cryptocurrency News by

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The cryptocurrency market finished a disastrous week on a low note on Friday, with most major currencies trading down on the day.

Here’s a look at some of the headlines that were moving the cryptocurrency market this week and which currencies were on the move.

Headlines

Cryptocurrency markets experienced extreme volatility this week related to a contentious hard fork in Bitcoin Cash on Thursday. Disagreements about the latest Bitcoin Cash software upgrade and confusion about how it would impact the futures market resulted in a “crypto civil war.” Heavy selling triggered stop loss orders, sending cryptocurrencies down across the board and bitcoin to new 52-week lows below $6,000.

On Thursday, Fundstrat Global Advisor analyst Rob Sluymer said the technical breakdown that occurred in bitcoin’s chart this week will take “weeks if not months to repair.” Bitcoin prices dipped below $5,600 for the first time since October 2017, and the world’s largest and most…

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