After all the chaos of the past month, hodlers were rewarded Saturday with a huge surge in Bitcoin pricing. At press time, BTC was trading at $3,104, a new all time high. Reddit exploded with the news, filled with a number of funny GIFs showing the exuberance of the BTC marketplace.
Fear of the fork
Many analysts had changed their perspective on BTC after the news of the Bitcoin Cash (BCH) fork was made public. There were those, however, who directed the public back to the fundamentals of BTC, encouraging hodlers to remain calm and not give into fear of value loss. It appears for today that they have been rewarded highly.
Other coins
Litecoin (LTC) and Ethereum (ETH) were also up on the day, though nowhere near the substantial gains of BTC. Analysts have previously suggested that the fork was moving some out of other cryptocurrencies and that ETH especially was undervalued. The BTC increase also saw a correspondingly painful decrease for BCH, down nearly 25 percent as of press time.code
At the same time Bitcoin cash is falling like a stone. I wonder if we can hold onto these gains throughout the rest of the year with the fork in Nov etc! Interesting days ahead!
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Yes it will be interesting to see
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You can say that again just wish there will be a blood bath with the alt coins trading @ poloniex,bitriex,yobit and etc after which it will all turn green ..I believe we all come out as winners and close the year in a very big thankful wqy
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