Correction occurred after the weekend beatokoina rate fell to $ 5500, being 30% below the highs. At the same time, the bitcoin cash rate jumped to almost $ 2,500, temporarily becoming the second major currency for crypto currency.
As reported by "Vesti.Economika", the rate of bitcoin cash in the moment reached $ 2450. However, by 13:29 Moscow time on Monday, the rate of this crypto currency, according to CoinMarketCap, fell to $ 1203.22.
As noted by analysts, the growth of bitcoin cash was due to bitcoin. Earlier, many market participants bought bitcoin in anticipation of the Segwit2X implementation, expecting to receive additional koins. However, last week it became known about the developers decision not to switch to the Segwit2X protocol, which would increase the speed of transactions. Against this background, the bitcoin rate went down. Participants began to transfer funds to other crypto-currencies, and the choice fell on bitcoin cash. Bitcoin cash went around ethereum for a while, taking second place in the list of the largest crypto-currencies, but then lost again. All the latest movements of the course are connected with the news about the scaling of the main crypto currency. After several years of discussions this summer, it was decided to increase the size of the bitcoin block up to 2 megabytes, which should increase its throughput. Nevertheless, the day before it was officially announced that at this stage there will not be an upgrade.
Some miners transfering their equipment to bitcoin cash also affected the sudden drop of price of bitcoin
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