Bitcoin Cash Soars After Korean Pump 17 October, 2017

10/17/2017 - 11:41 UTC
Bitcoin Cash Price Rise 20171017

Bitcoin Cash is today October 17, 2017, on an upward trend by 22% (24hours), the price hovering at $350.  An exciting change from the ongoing bear formation - downward spiral the currency is in since 21 August.

The Korean exchange Bithumb dominates entirely since they single-handedly account for 42% of the total volume. The Korean market in general accounts for the 65%+ of the total market, showing an extreme interest in Bitcoin Cash.

There will be plenty of profit taking by the people who bought in low, whereas other investors may decide to break even and look for better investments. There is no reason to think Bitcoin Cash will go back to $800 anytime soon, though.

Bitcoin Cash is a hard forked version of the original Bitcoin, with the difference of block size being 8MB on the fork and the difficulty readjustment
happening every six blocks, in contrast with the original Bitcoin where it is taking place every 2016 blocks.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.