Bitcoin Follows Stock Markets Higher; How Long Will They Move in Lockstep?
Crypto prices climbed with traditional market indexes Monday as traders wondered if bitcoin will remain a follower or break out and blaze its own path.
Bitcoin and ether climbed modestly late Wednesday as lighter crypto derivatives volumes signaled uncharacteristic caution among the market’s traders.
Bitcoin Cash, the blockchain network that forked off Bitcoin in 2017, has just reduced its mining rewards by half, causing lots of miners to have nearly zero gross margin.
Bitcoin has underperformed its three major fork currencies by as much as triple-digit percentage points so far this year.
While some expect today's reward cut for BCH miners to belong-term bullish for prices, analysts suggest otherwise.
The event is a foreshadowing of the same process happening on a larger scale on the BTC blockchain next month.