Bitcoin Cash - First day on Bitfinex
Hello all,
it was today a very busy day for Bitfinex users who have been able to trade Bitcoin Cash only from this wednesday around 8.45am UTC. I think we were the last exchange after Kraken and Bittrex... and we had all the bad surprise to receive only 0.8539 BCC for 1 BTC. It was really a disappointing news from Bitfinex but ok it was the risk to let the BTC inside the exchange...
As you can see on this picture, we had a big price increase toward 675-700$ around 1.00pm UTC and the price didn't stop to decrease since that time.
We have currently a big price difference between the several exchanges which are supporting Bitcoin Cash. This is mainly due to the fact that most of the exchanges don't authorize yet to deposit BCC on their exchange. Only users who had previously BTC in their exchange wallet have been credited with corresponding BCC.
So the volume of trading is very limited and the volatility is really important during these first hours of trading. This volatility is not the same on the different exchanges, depending of the volume traded, and it created big price differences between exchanges.
As soon as exchanges will authorize to deposit BCC, we should see a similar price on all of them.
The only problem is that decrease of price. People who are currently outside of exchanges will only be able to sell their BCC later and perhaps at a lower price than today.
Take care,
CryptoPassion.io
Version française ici : [FR] Bitcoin Cash - Premier jour sur Bitfinex
Bitcoin cash is probably going to be a flop
Wow I am disappointed in Bitfinex. They are my favorite exchange. I did move all my btc off there though for Aug 1 b/c I wanted to be able to trade/buy Bcash right after the fork. Curious to know why customers didn't receive full 1:1.
They used the excuse of margin traders... But sorry margin traders should not have received BCC... Other exchanges didn't do it so why Bitfinex ? The only result of that is that people who were really owning BTC just lost money compared to other exchanges... Really not fair !
Agree, nice post. i wrote something similar in a post earlier today. check it out if you like.
https://steemit.com/bitcoin/@attalis/wow-weren-t-we-all-plain-wrong
Upvoted anyway.
Not cool to spam with your link here... Can I do the same on all your posts?
And anyway, no you didn't upvote...
Nicely written post about the Bitcoin cash position! I made some nice money with today's volatility of this new altcoin! Bought one coin at bittrex this morning (European Central Time) at around 400 USD, sold it a few hours later around 1100 USD, right before it started to go down again 😎 now I only own some Bitcoin cash in the form of my private keys, I need to find a way to split the Bitcoin Cash from my Bitcoin private keys, but I guess I will HODL it for a while now!
Yeah I still have some also via the private key but I think we won't see so quickly a similar price around 1000$
Yes, I guess a lot of people will sell their Bitcoin Cash as soon it gets clear and easy how to get your Bitcoin Cash and Bitcoin safely out of your keys 😉