According to Classiarius, the capitalization of Bitcoin dropped by $15 billion over 24 hours Wednesday. The latest cryptocurrency sell-off seems to be driven by some bickering between rival names in the market that are considering forks. The market cap for Bitcoin fell below $100 billion dollars to $97,554,227,588 mainly driven out of issues in Tokyo.
There is a splintering of Bitcoin Cash in an effort to produce a product that is able to process more transactions. According to sources there seems to be a strong rivalry that has started between founders of coins and one even claiming that he is Satoshi Nakamura, the faceless developer of Bitcoin – or at least he claims to be this person.
Bitcoin cash is doing “hard fork” or in short, a software upgrade, and it stood at $5,507.58, after trading in a tight range between $6,400 and $6,600 for months. Of course Ripple and Ether were both lower by about 15 to 18 percent. This hard fork discussion exploded in Tokyo two days ago and according to sources the battle has just begun. More on this topic later….