RE: The Cause of Bitcoin Prices Rise down sharply (question)

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The Cause of Bitcoin Prices Rise down sharply (question)

in bitcoin •  7 years ago 

Technical aspect of the coins do play a part in the dip and rise of a particular coin.
Bitcoin and Bitcoin Cash for instance. Over the past weeks, both BTC and BCH has been readjusting their difficulty level. This resulted in miners jumping back and fro both coins.
As the coin is being readjusted to be easily mined, increasing the profitability of that particular coin, more miners would then hop on the opportunity and mine the block.
Taking last week for example, the mining difficulty of BCH has been reduced due to the time taken for each block to be mined to have gotten longer, this readjustment has given miners the opportunity to profit more from BCH, therefore I believe that it is part of the reason for the huge pump on BCH to $800~.

I'll love to touch on the difficulty aspect on crypto mining more, but that will take more than just a comment.

Good work on the post!

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We need to do as a miner is to be patient and do not rush by lust.
thanks @jakeglengin