Cryptocurrencies hit hard as Ethereum falls to 16-month low

Markets Update All Eyes on Bitcoin Cash Prices Before the Pending Fork

For the day ahead, a hold onto $5,500 levels through the morning could see Bitcoin recover some of the day's losses, with a move back through the second major support level at $5,550.63 bringing $5,600 levels back into play, though we can expect plenty of resistance on any attempted rebound.

The official website for Bitcoin Cash SV [IOU] is bitcoinsv.io.

Cardano (ADA) is now at $0.06 against the dollar, a -15.15 percent change in the last 24h.

CHIPS (CHIPS) traded up 0.1% against the dollar and now trades at $0.0500 or 0.00000902 BTC.

Ethereum Classic (ETC) is now at $7.65 against the dollar, a -17.16 percent change in the last 24h.

IOStoken (IOST) traded 0.3% lower against the dollar and now trades at $0.0396 or 0.00000526 BTC.

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NEO (NEO) is now at $13.04 against the dollar, a -14.64 percent change in the last 24h.

Namecoin (NMC) traded up 2.5% against the dollar and now trades at $0.49 or 0.00008767 BTC.

Zetacoin (ZET) traded up 14.5% against the dollar and now trades at $0.0017 or 0.00000026 BTC. The CEO also clarifies the investment both Bitmain and nChain have made in his start-up, Yours Inc., a platform that allows its users to earn Bitcoin Cash for their content. It was launched on 1st August, 2017.

Volatility has returned to cryptocurrencies, with the largest tokens shedding billions in market value since the hard fork of Bitcoin Cash debuted last week. It is similar to bitcoin with regards to its protocol; Proof of Work SHA-256 hashing, 21,000,000 supply, same block times and reward system. Charles further stated that as the CEO of Yours Inc., he is inclined towards making a decision of choosing one fork of Bitcoin Cash. Buyers can then make use of this BTC or Ethereum to buy Bitcoin Cash using one of the exchanges shown above. Using that same analogy for cryptocurrency, what about blockchain, the technology behind bitcoin and Ether?

With the hard fork having taken place on Thursday, it remains unclear on which will ultimately become the dominant chain, the direction of the markets seeming to reflect a calming over the possible negative effects of the hard fork and a possible Bitcoin Cash SV victory. Investors seeking to trade Bitcoin Cash ABC [IOU] should first purchase Bitcoin or Ethereum using an exchange that deals in USA dollars such as Changelly, GDAX or Coinbase.

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