BITCOIN'S JUDGEMENT DAY HAS ARRIVED?
It was said that after 12:20 p.m. UTC, Bitcoin Cash forked affected Bitcoin blockchain, effectively created a new cryptocurrency and airdropping coins to BTC holders.
Bitcoin declined its value as a response to the chain split, while the ethereum experienced price surged to 13.14%.
Bitcoin’s reversal caused the total cryptocurrency market cap to dip after reaching a high as $95.8 billion early Tuesday morning. At present, the total valuation of all cryptocurrencies is about $92 billion, although this does not account for bitcoin cash.
Chain Split Leads to Bitcoin Price Decline
The bitcoin price had a dominant week leading up the August 1 hard fork, rising as high as $2,900 Tuesday morning. But it began to decline in the hours before to the bitcoin cash deployment. At 12:20 p.m. UTC – which initiated the six block countdown to the fork – the bitcoin price had dipped to $2,800, and it continued to decline after the split occurred. At present, the bitcoin price is $2,735 – a 24-hour decline of 2.5%. The bitcoin market cap is approximately $45 billion.
Ethereum Price Surges Past $200
Ethereum experienced its own high-profile chain split following the controversial decision to implement a hard fork in response to the DAO hack. This time, the ball is in bitcoin’s court, and the ethereum price is surging. On July 31, the ethereum price fell below $200 to complete a disappointing month. That changed on August 1.
Will it be the ethereum that will lead the coinscrypto in the future?
Which do you favor? Eth or Btc?
Credits to: Cryptocoins News
https://www.cryptocoinsnews.com/ethereum-price-surges-past-200-as-bitcoin-judgment-day-arrives/