By Gaurav S. Iyer, IFC Published : December 20, 2017
If you woke this morning to flashing red on your trading screens, don’t be alarmed. Yes, there was a fall in crypto prices, but the retracement was due in large part to Bitcoin Cash (BCH).
BCH was finally added to Coinbase, a leading U.S. exchange that serves as most people’s gateway into the wacky world of cryptocurrencies. This solitary act sent BCH prices soaring, thus sucking all the oxygen out of the market.
Ethereum was hardly the only loser.
Prices fell across the board, save for highfliers like IOTA and Dash. ETH lost 4.97% against the U.S. dollar, bringing the Ethereum to USD rate to $812.63.
On a brighter note, the Ethereum to Bitcoin rate increased 5.01% to 0.04783840 BTC.
Daily Ethereum Chart:
This means that Bitcoin’s fall was much sharper by comparison. This trend could potentially continue if BTC scaling issues are not resolved.
For example, one…