Bitcoin’s Price Drop to $64,000 Leads to $210 Million Liquidations in One Day
Bitcoin’s decline to $64,000 had a widespread impact on the overall market, particularly affecting altcoins, which experienced larger drops than BTC.
$482
1H
0.92%$4.39
24H
-0.35%$1.69
7D
-0.20%$0.9660
30D
1.77%$8.38
Bitcoin Cash (BCH) is peer-to-peer digital money for the Internet. It sprang out on August 1, 2017, when bitcoin network was officially forked into two separate blockchains creating two cryptocurrencies – Bitcoin and Bitcoin Cash (BCH) respectively.
The main reason for the fork to take place was scalability problem – the original Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second. Although it was technically simple to raise this limit, crypto enthusiasts failed to reach any consensus, even after years of robust debates.
A new cryptocurrency is thought to be backed by a version of the blockchain that boasts a unique technical roadmap. In particular it means adjustable blocksize limit with an increased default of 8MB, replay protection and protection against hashrate fluctuations, improved hardware wallet security, and upgraded consensus rules.
Requiring no third parties in order to operate, Bitcoin Cash is fully decentralized and resistant to any political or social effects on protocol development.
Bitcoin’s decline to $64,000 had a widespread impact on the overall market, particularly affecting altcoins, which experienced larger drops than BTC.
Is DTX Exchange the future of crypto? Explore its potential to outshine Bitcoin Cash and XRP in the ever-evolving digital currency space.
Bitcoin (BTC), Bitcoin Cash (BCH), and Algotech (ALGT) continue to deliver unmatched results for investors in the bullish market.
Bitcoin Cash remains a long distance from its all-time high of $4,355 which it attained back in December 2017.
The company’s move to offer futures trading for DOGE, LTC, and BCH automatically qualifies the assets as commodities.