For the first time after three months, Bitcoin had the first major step forward. But unfortunately for investors in the crypto market, the BTC fell by more than 11%, taking part in one of the most powerful semi-detachable periods in the period of 24 hours throughout the year 2018.
Why was Bitcoin Cash again affecting the rest of the market?
The problem in the BCH's civil war was that it began to have an impact on the rest of the market. ' Battle line ' by Calvin Ayre, known as Bitcoin SV has turned the civil war into a hash power competition, threatening 51% assault on network Bitcoin Cash, when done, Ayre and his ' battlefield ' abilities are able to manipulate the BCH blocks.
Bitmain and Jihan Wu have a significant influence over China's electron-mining community. As the largest mining equipment manufacturer and mining operator, Bitmain can also convert hash power from BTC to BCH to combat Coingeek and Calvin Ayre.
If that happens, the BTC's hash rate decreases in the short term, which can lead to difficult conditions in the mass exploitation at a fast pace, slowing down the network.
Unequivocally, if the hash war between Coingeek and Bitcoin cash continues, it will have a negative impact on both Bitcoin and Bitcoin cash. As the electronic currency dominate the market, any negative psychology that does around BTC will certainly affect the rest of the market.
The event is perhaps short-term, but the hash power war is not if the hash power conflict between Coingeek and BCH caused the decline, it is likely that it will continue to affect the crypto market in the coming weeks.
Because of the semi-dumping intensity in the market, while waiting for a recovery taking place, most likely to market the crypto markets will continue at a low of 180 billion in the short term.