Market Update 11.19.18 – BCH Battle – Who’s in the Lead?

| Publish date: 11/19/2018
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Market News

BCH Battle – Who’s in the Lead?

On November 15, BCH miners started the fork process. However, miners from the Bitcoin ABC group mined the first block, while Bitcoin SV miners mined the next block, leading to a split in the BCH Blockchain. To assert Bitcoin ABC’s dominance, Jihan Wu, the co-founder of Bitmain, the leading supporter of the ABC party, mobilized his mining force. Added to that Roger Ver, the leader of Bitcoin ABC, stated that he would be diverting mining hash power from BTC to BCH ABC for a day.

Craig Wright, the leader of the opposing group, Bitcoin SV, stated that only continuous mining would reveal who the real leader of the new Blockchain would be. The conflict is still ongoing, and currently, the Bitcoin ABC block is only 2 blocks ahead of Bitcoin SV.

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Deloitte: Negative Crypto Headlines Worrying Customers

The head of the financial services Blockchain group for Deloitte Consulting, Linda Pawczuk stated that the currently bad press that cryptocurrencies are getting is making a lot of their customers nervous.

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Pawczuk and her team focus on helping traditional global companies understand how they can utilize Blockchain technology to transition their businesses to the digital age. However, thanks to the constant stream of bad news about ICOs, cryptocurrencies and their tussles with regulators, Deloitte’s customers are wondering how to protect their investors from these problems.

Read more about this story here.

SIM Swapping Increasing in California

Recently, the California-based law enforcement team focused on fighting cyber-crime, REACT Task Force was interviewed by KrebsOnSecurity. According to that article, REACT stated that “SIM Swapping” was one of their prime focus areas as part of their fight against cryptocurrency fraud. SIM Swapping is a method of crypto-fraud where the telecom provider is duped into transferring the victim’s phone number to a SIM card used by the cyber-criminal.

The SIM card can be bought on eBay for as little as 99 cents and then inserted into a burner phone. Then the cyber-criminal simply has to make a phone call and can then steal millions of dollars’ worth of cryptocurrencies.

Read the full story here.

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Total Market Cap: Nov 19

The cryptocurrency market’s capitalization stands at $177.58 billion at the start of this week, and trading volumes are down at $14.43 billion.

Bitcoin Price Analysis: Nov 19

Bitcoin’s token price is down by 2.73% and the cryptocurrency is now trading at $5452.18. The crypto’s worth is now $94.77 billion and trading at volumes of $4.53 billion at this time.

Ethereum Price Analysis: Nov 19

Ethereum’s price is down massively by another 7.76% to trade at a price of $162.78. The world’s number three crypto is now valued at $16.81 billion and is experiencing trading volumes of $1.92 billion.

State of the Top 10 Cryptocurrencies: Nov 19

After a brief rally over the weekend, the cryptocurrency market has started the week mostly in the red. The top ten cryptos – with the exception of Tether (which is up by 0.83%) – are all in the red. The biggest losses have so far been experienced by Cardano, Monero and Ethereum. Cardano and Monero have both fallen 7.81%, while the price of Ethereum is down by 7.76%.

  • Bitcoin’s price is $5452.18, falling 2.73%. Its market worth is $94.77 billion.
  • Ripple’s price is $0.484054, falling 5.30%. Its market worth is $19.49 billion.
  • Ethereum’s price is $162.78, falling 7.76%. Its market worth is $16.81 billion.
  • Bitcoin Cash’s price is $373.81, falling 3.70%. Its market worth is $6.52 billion.
  • Stellar’s price is $0.237244, falling 5.12%. Its market worth is $4.57 billion.
  • EOS’s price is $4.34, falling 5.98%. Its market worth is $3.93 billion.
  • Litecoin’s price is $39.80, falling 6.64%. Its market worth is $2.35 billion.
  • Tether’s price is $0.995608, rising 0.83%. Its market worth is $1.74 billion.
  • Cardano’s price is $0.057126, falling 7.81%. Its market worth is $1.48 billion.
  • Monero’s price is $84.22, falling 7.81%. Its market worth is $1.39 billion.
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