In our latest episode of The Daily 2, Brian discusses some of the theories surrounding the recent market crash and exactly what could be causing the plummeting prices of today. Overall, the markets have sunk pretty low an age away from the prices witnessed at the start of 2018. This volatility, is evidence of just how risky cryptocurrency investment is, therefore you should always ensure that you trade safe when trading in these markets.
So I interviewed Dominic Frisby the other day and one of the things we talked about was what is also the #1 question I get lately, that is:
“Brian, what the hell is going on with the crypto markets?”
Whoa... I hear you guys... loud and clear... I understand how shocking it can be to see such dramatic price fluctuations in crypto currencies, especially for those of you who are new to this space and haven’t experienced this sort of volatility, and worse, in the past. Totally understandable.
One of the main reasons the big drop happened, and what we briefly discussed in that interview with Dominic, was due to the hash war between Bitcoin Cash ABC and Bitcoin Cash SV. ABC stands for adjustable block size cap and SV stands for Satoshi Vision. At one point most of the actors in these 2 camps were aligned, but things have changed.... As they seem to do in this space when you don’t have a central point of authority making all the decisions. Welcome to the decentralized world.
Basically, Bitcoin Cash had split from Bitcoin due to differences in the way each side thought about how things should run and what Bitcoin should represent. Digital gold, or a peer to peer cash system, as outlined in the famous Bitcoin white paper introduced by Satoshi Nakamoto. The high powered debates of how each group thought that their way was a better interpretation of what Satoshi had given us, split into 2 groups that eventually became Bitcoin and Bitcoin Cash. The same thing has happened with Bitcoin Cash. ABC believes they are more in line with Satoshi’s original Bitcoin than either the current Bitcoin “BTC” and the opposing Bitcoin cash, SV. Honestly, on a personal note, i tend to agree with them... but not on everything.
There’s a lot that seems to be impacting the markets, could this be one of them?
Please watch Brians video and leave your feedback in the comments below!