$51,472,935,524 is the current Market Cap of Bitcoin (which is currently approx $2,700) and Bitcoin Cash combined according to coinmarketcap.com.
Now obviously this can change every moment, but we will use this number just to show an example.
Now if all of that money flowed into one or the other that would put the BTC price at $3,122.54, and would put BCH slightly more at $3,122.95 since there is a few less available supply.
So does that mean the hard fork created money out of thin air.. or will that money eventually flow into one over the other?
Another possibility is that extra money will start flowing back into altcoins as well, which seems to be happening, but people will eventually have a preference over BTC or BCH, and I do think that it will start to level out.. We just have to wait and see where!
Thanks for checking out my post, and let me know what you think in the comments below!
Disclaimer: I am not an Investment Advisor, and this is not investment advice. This for entertainment purposes only!
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That is really amazing. And not only that Bitcoin cash is sitting in third place. And the gains on bitcoin cash is crazy it's like 70 something percent. Thank you for sharing your post and have a blessed day!
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BCH will fall once the exchanges open up deposits for it.
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Hi, can I ask how you got the $3,122?
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added bitcoin and bitcoin cash values?
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51,472,935,524 (combined market cap of BTC and BCH) divided by 16,484,387 (which is Bitcoin available supply) = 3,122.54
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Ok. Thanks, suspected as much.
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Hum... I think the new coin is the new coin... I think in the end the total cryptocurrencies market cap has grown.
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Is this assuming the majority of people will use both.. or even have a need for both?
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You are right!
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Interesting observation. I just assumed that the market responded to the new financial asset by investing in it. This 'novelty' (shall we say) of the hard fork brought in interested capital driving prices up more than if nothing at all had happened.
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Everyone got BCH for free and now it has value so it's a little different.
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I am Groot! :D
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