Price of Bitcoin Cash Plummets as Exchanges Open Deposits

[josep]

Bitfinex opens deposits
Following a difficulty drop which stabilized the network, Bitfinex announced the opening of Bitcoin Cash deposits and withdrawals. While several smaller exchanges had already enabled Bitcoin Cash funding, Bitfinex has become the first major exchange to do so. They are requiring 20 confirmations before Bitcoin Cash deposits are credited.

The Bitcoin Cash network was practically non-functional for the first 48 hours because of the high mining difficulty. Bitcoin Cash inherited Bitcoin’s mining difficulty, but only attracted around two percent of Bitcoin’s hash power. This resulted in extremely long block times.

Further drops expected
As expected, now that Bitfinex and several smaller exchanges have opened Bitcoin Cash deposits, the price of Bitcoin Cash has dropped precipitously. At press time, the price of Bitcoin Cash has dropped by 40 percent in the last 24 hours, with even greater decreases likely.

In addition to opening up Bitcoin Cash deposits and withdrawals, Bitfinex also enabled margin trading on the currency. This enables traders to short sell the asset, which is likely to further lower its price. Users on the /r/BitcoinMarkets subreddit have noted large quantities of Bitcoin Cash being moved in recent blocks, likely to exchanges in order to be sold.

[fia_naila]

of course it will crash, who does not want free coin valued so high, it is even reach $1000 before exchangeropen the depoait, if you hold 500btc, its mean you have 500bch and you can cash it out at $400 each ? i will dump all and take a vacation

[Teraboy]

That's a worthless coin, everyone just realize that the best investment is only the bitcoin ori. You can see how the price of bitcoin reach new ATH at the moment. I will believe the price of bitcoin will be stable and increase everytime, dump bcc before too late.