Thursday, March 29, 2018

Litecoin Foundation Apologizes for Not Doing Enough Due Diligence on Litepa


Failure of a project is a natural and common thing when investing in startup ventures, especially when it comes to cutting edge technologies such as cryptocurrency applications. Doing due diligence won't prevent failed investments made in good faith, but it can make sure to weed out projects that will raise obvious red flags if vetted thoroughly. In the case of Litepay, this has evidently not been done, and a lot of the community is now angry.

Litecoin Foundation Apologizes for Not Doing Enough Due Diligence on LitepayThe Litecoin Foundation has issued an announcement to the LTC community on Monday, informing them that Litepay has ceased all operations and that the CEO claims to be preparing to sell the company. This happened after the foundation questioned him about a lack of transparency and in return he asked for more funds to continue operations. The foundation refused any further funding as the CEO was "unable to provide a satisfactory picture of where the money had been spent and refused to go into exact details about the company and show objective evidence to back up his statements."

The organization took responsibility for the incident, stating: "We are greatly disheartened that this saga has ended in this way and we apologize for not doing enough due diligence that could have uncovered some of these issues earlier. We are currently working hard to tighten our due diligence practices and ensure that this does not happen again."

Litecoin creator Charlie Lee also twitted out a personal mea culpa on his part, saying: "Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs. I am sorry for having hyped up this company and vow to do better due diligence in the future." Despite this honest message, a large part of the LTC community is apparently not quick to forgive him, with top ranked social media posts questioning Charlie's leadership and status in the wake of this debacle.

Crowd-Sourced Due Diligence
Litecoin Foundation Apologizes for Not Doing Enough Due Diligence on LitepayLitepay was supposed to be a LTC merchant payment processor and debit card that will greatly enhance the ease of spending for the cryptocurrency's holders. What triggered the foundation to question the project was a disastrous Reddit AMA (ask me anything) by the CEO Kenneth Asare.

Asare got grilled during the AMA session, as he tried to evade questions and wasn't able to provide satisfying answers to many concerns. He was accused of trying to run a one man show for a project that would require a whole team to complete. The project's website also didn't pass a simple inspection as many details were missing, raising allegations of being a scam. By doing this, the community was actually crowd-sourcing part the due diligence process of Litepay that needed to be done by the foundation beforehand.

Bitcoin Cash Price Dips Below $800 as all Markets Take Another Beating


Even though most cryptocurrency markets are still in the red as of right now, it will be interesting to see what the future holds in this regard. For the time being, Bitcoin Cash is taking a big beating, although it shouldn't necessarily suffer from bigger losses compared to all other markets. Even so, the Bitcoin Cash price has dropped below $800 again, which will make some investors rather twitchy.

It is always difficult to make sense of the cryptocurrency markets. More specifically, the overall downtrend has been rather evident for quite some time now, and it seems there is no real improvement in sight for the foreseeable future. As such, it is only normal the Bitcoin Cash price will continue to decline, along with all other cryptocurrencies. For some reason, the Bitcoin Cash price is declining a lot quicker than Bitcoin or Ethereum.

More specifically, the Bitcoin Cash price has dropped by as much as 11.4% in the past 24 hours. While such volatility is not uncommon in the world of cryptocurrency, it goes to show there is still some concern over the future price stability of this currency. While this dip can turn into a small gain in a matter of a few hours, it is quite steep regardless. This decline also pushed the Bitcoin Cash price below $800 once again, which is not something investors will appreciate.

It is also worrisome to see how Bitcoin Cash continues to lose ground compared to Bitcoin. Although this trend has been visible for some time as well, the current dip is another 6.65% decline in favor of Bitcoin. While most BCH holders may not be too alarmed by that particular development, it was not that long ago when one BCH was valued at 0.22 BTC. Right now, that same BCH is worth 0.104 BTC, even though the Bitcoin price has fallen dramatically.

While Bitcoin Cash still has a solid trading volume of just under $350m, it is far less than what most people would like to see at this point. Unfortunately, the overall cryptocurrency trading volume is still pretty abysmal right now, thus it is only normal individual currencies will struggle a bit in this regard. For Bitcoin Cash, the volume seems to remain consistent around the $350m mark, which is rather positive, all things considered.

The majority of this Bitcoin Cash trading volume originates from the OKEx trading platform, which is no real surprise. Even so, their lead over Huobi and HitBTC is pretty small. OKEx is also in fourth position ranked by volume, followed by Lbank. A very interesting mix of exchanges and trading markets, even though there is no real fiat currency pair in the top five. We do see two USDT markets, though, which is not all that bad either.

Whether or not the Bitcoin Cash price will return to $800 in the near future, is anybody's guess as of right now. It is certainly possible we will see a temporary trend reversal right before or during the weekend, but sustaining any positive momentum is all but impossible for cryptocurrencies right now. For now, the Bitcoin Cash price will remain bearish, but this industry remains incredibly unpredictable.

Thursday, March 22, 2018

Bitcoin Cash Ecosystem Sees a Tidal Wave of Merchant Acceptance


Just recently reported on Bitpay launching bitcoin cash (BCH) integration for the firm's loadable Visa debit cards. Since then the company has implemented BCH invoice support for all of the firm's vendors, and now bitcoin cash can be spent with thousands of merchants worldwide.

Thousands of Merchants and Nonprofits Now Accept Bitcoin Cash
Merchant adoption has been increasing lately for the BCH ecosystem, but in one day that metric spiked considerably. Bitpay has fully integrated bitcoin cash payments for all of its vendors and merchants that utilize the company's payment processing services. Since the 'cryptocurrency fever' swept the globe in 2017, Bitpay's merchant list has grown considerably last year. This includes significant merchant growth in the U.S., South America, Asia, and Europe.

Bitcoin cash can be used with well-known merchants like Microsoft.
Bitcoin cash supporters have been extremely pleased to see some of their favorite merchants accepting BCH as a form of payment and network fees are considerably less. The list of Bitpay vendors who now accept BCH, includes Newegg, Apmex, Vultr, Namecheap, eGifter, Gyft, Zeek, Wefunder, Heifer International, Vodi, JM Bullion, and many more. This also includes a wide variety of nonprofits and charities like Save the Children, the Internet Archive, the Electronic Frontier Foundation and Wikipedia.

Bitcoin cash can be used to donate to hundreds of charities and nonprofit organizations like the Electronic Frontier Foundation.
BIP 70 Wallet Support for Bitcoin Cash and BCH Being Used for South Korean Cross-Border Payments
In addition to the full range of merchants and non-profits now available to the BCH ecosystem. Bitcoin cash payments are also now compatible with the Payment-Protocol (BIP70) used in Bitpay invoices. Further, there are currently more supporting wallets utilizing this feature, and the Electron Cash client was added yesterday. Wallets that are compatible with the BCH Payment-Protocol include BRD Wallet, Bitcoin Core, Edge (formally Airbitz), Electrum, Mycelium, Copay, Bitpay, and the Wallet. Bitcoin cash users who have these types of wallets can utilize any Bitpay merchant.

The BCH wallet Electron Cash can now be used with the Payment-Protocol for those who wish to pay Bitpay merchant invoices.
Another announcement from Bitpay that will also please BCH proponents is the company's recent partnership with the South Korean exchange Bithumb. The two companies are launching a cross-border payment solution which will utilize BTC and BCH to help cheapen the costs of international payments for South Korean businesses. Bitpay executive Sonny Singh says that South Korean companies are sometimes paying or receiving $100,000 – $5 million USD per invoice. "A 1 -2% savings on each invoice can lead to dramatic cost savings," explains Singh.

Overall the announcement of Bitpay integrating bitcoin cash has pleased BCH proponents quite a bit as the number of merchants added to the ecosystem, and the new South Korean cross-border payment platform will increase BCH usage greatly. In addition to Bitpay, since the San Francisco company Coinbase integrated bitcoin cash support, BCH payments can be used with its new merchant plugin.

Twitter and Square CEO Bullish on Bitcoin


Jack Dorsey, CEO of both Twitter and payment platform, Square, told the Times of London there will be a single world currency in the next ten years, and he believes that will be bitcoin. His comments came at a downturn in the broader crypto markets and amidst declarations of bitcoin's imminent demise.   

Twitter and Square CEO Bullish on Bitcoin
"It's slow and it's costly," Mr. Dorsey spoke of bitcoin as a currency, "but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable," the Times of London reports (paywall). He is in London this week to promote one of his companies, Square.

Mr. Dorsey, 41, is a billionaire at least four times over, and is considered something of a sage in the technology space. He was instrumental in establishing the micro-blogging platform Twitter. The San Francisco-based social networking staple has proven itself over its decade of existence to be a galvanizing space, especially for the cryptosphere, with over 300 million users.

Twitter and Square CEO: Bitcoin to be World's CurrencyThough the world's most popular cryptocurrency "does not have the capabilities right now to become an effective currency," Mr. Dorsey explained the "world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin," expecting this to take place "probably over ten years, but it could go faster."

He's also CEO of Square, Inc., San Francisco-based as well, a point of sale payments platform allowing for person-to-person commerce serving the US, Australia, Canada, Japan, and the United Kingdom. The popular smartphone client announced last month it would launch an in-app bitcoin buy and sell option. "We support bitcoin because we see it as a long-term path towards greater financial access for all — This is a small step," Mr. Dorsey detailed. The move has proved compelling to merchants, as even amidst price volatility 60% said they'd accept Square. Square is also reportedly launching an instant deposit service. After about 20 minutes, merchants can access funds in their accounts, making cashflow much easier for smaller businesses.

Twitter and Square CEO: Bitcoin to be World's Currency

Mr. Dorsey isn't a passive bitcoin investor. He participated in a seed financing round of 2.5 million USD for Lightning Labs, hoping to help power bitcoin core beyond its recent headaches of congestion and fees. In the hodl versus currency bitcoin debate, Mr. Dorsey seems to reside right in the middle.

Thursday, March 15, 2018

Massive Drop After Google Announces It Will Ban Crypto Ads


Bitcoin is struggling. Following yesterday's unimpressive but steady balance at $9,130, bitcoin has fallen by nearly $1,000 and is now trading for less than $8,300.

The news likely stems from an announcement by Google, as the popular Internet search engine has sworn to ban cryptocurrency and ICO-related ads in the coming months and to crack down on digital currency scams.

Similar sentiment was witnessed amongst Facebook executives earlier this year. The social media platform made a similar decision to ban cryptocurrency advertisements, which sent the price of bitcoin spiraling downward by approximately ten percent. While the fall is not as large this time around, bitcoin's price has sunk nearly eight percent, which puts the damage on a similar scale.

Google and Facebook are arguably two of the most powerful Internet companies in modern times, and if they say bitcoin and digital currencies aren't all they're cracked up to be, people are likely to listen, although CEO of Coinbase's UK branch Zeeshan Feroz feels differently. He says Google's crackdown will not "dampen" consumer demand anytime soon, but he did criticize the ban for being "too widespread."

Google has divisions all over the globe, which means bitcoin and altcoin coverage is going to be cut significantly, and it may take time for a respective bull run to occur again.

The ban will not take place until mid-June, which leaves many speculating as to why bitcoin would experience such a drastic fall at press time. The answer may be simple: that not all the kinks surrounding bitcoin have been worked out yet. Despite ten years of availability, bitcoin is still a fluctuating, changing, and ultimately "birthing" market, thus leaving it vulnerable to several factors. Announcements like these can have drastic effects on the price, and it is possible users may see another fall in June when Google fully implements the ban.

Managing Partner and CEO of $APEX Token Fund Chris Keshian is asking Google to "keep an open mind," and to not "tar all cryptocurrencies with the same brush." For the most part, he sees the move as somewhat progressive, as the ban is simply a "pause" in bitcoin's present run. He feels the move is likely to give bitcoin more time to mature and adapt to newer regulations, as they will undoubtedly come along.

One source suggests bitcoin could stay "in the red" until late September this year, when Mt. Gox – the infamous exchange that lost nearly half-a-billion in bitcoins in February 2014 – is slated to sell off its remaining crypto stash.

The company still holds approximately $1.5 billion USD in cryptocurrency assets, and the sell-off may happen once it obtains final permission from a Japanese court. The initial hearing will take place on September 18, suggesting that bitcoin may be "food for the bears" over the next six months. While some are still suggesting leaps can occur in the bitcoin price arena, we cannot ignore the fact that Mt. Gox was, is, and probably always will be a major influence on the father of all digital currencies.

Big Sister Watching: IMF’s Lagarde Warns of Crypto’s Dark Side


International Monetary Fund (IMF) Managing Director Christine Lagarde released a blog post Tuesday, March 13, Addressing the Dark Side of the Crypto World. In it, she argues increasing fascination with cryptocurrencies has brought along grave costs: money laundering, terrorism, and economic instability.

IMF Managing Director Christine Lagarde Warns of Crypto
Addressing the Dark Side of the Crypto World contains Ms. Lagarde's most pointed remarks on cryptocurrencies since her first toe-dip back in Fall of last year. Since then, however, her opinion seems to be devolving, and her current blog post doesn't mince words. "The same reason crypto-assets like Bitcoin are so appealing," Ms. Lagarde wrote, "is also what makes them dangerous."

Her missive comes in at least five languages: English, Arabic, Chinese, Japanese, and Portuguese. Clearly, the IMF wants this read widely. The IMF formed in the aftermath of World War II, based largely on the ideas of English economist John Maynard Keynes. In its modern context, the IMF is employed during financial crises to manage balance of payments through an established pool of funds known as special drawing rights (SDRs), which currently total a little over half a trillion dollars.

Recalling her earlier optimism, Ms. Lagarde continued, "The technology behind these assets—including blockchain—is an exciting advancement that could help revolutionize fields beyond finance. It could, for example, power financial inclusion by providing new, low-cost payment methods to those who lack bank accounts and in the process empower millions in low-income countries."

However, when it comes to central bank digital currency proposals, her tone turns ominous and curious. "The possible benefits have even led some central banks to consider the idea of issuing central bank digital currencies," Ms. Lagarde teases. It's curious because the issue of central banks and crypto isn't prefaced; it just suddenly appears as the post's focus. It could very well be the IMF is attempting to buttress, backup, a recent 34-page Bank for International Settlements (BIS) warning about the issue. And timing could not be better, considering the Group of 20 (G20) meeting in Argentina right around the corner.

Fire and Brimstone
Both BIS and IMF betray understanding of basic cryptocurrency literacy. A cryptocurrency isn't just a digital form of payment encrypted. To cause the sort of mischief it's accused, a crypto must for sure use encryption, a necessary but not sufficient condition, and at least have something akin to a decentralized, distributed ledger of accounting. Central banks are, well, centralized and thus defy the basic definition. Still, where there is a fuss to be made, government agencies are hardly afraid to make it.

"Before we get [to central bank-backed crypto], however, we should take a step back and understand the peril that comes along with the promise," Ms. Lagarde begins. And there can be pitfalls in using crypto, as many enthusiasts are aware, especially as infrastructure is built and the ecosystem grows. However, the IMF Managing Director insists typical cryptos are decentralized "without the need for a central bank," giving "crypto-asset transactions an element of anonymity, much like cash transactions. The result is a potentially major new vehicle for money laundering and the financing of terrorism," citing Alphabay as a prime case in point.

Big Sister Watching: Lagarde Warns of Crypto's Dark SideIf financing terror isn't enough to convince readers of the need for IMF intervention, "Financial stability is another. The rapid growth of crypto-assets, the extreme volatility in their traded prices, and their ill-defined connections to the traditional financial world could easily create new vulnerabilities," she thunders. She goes on to unironically bluster about "working on these issues" for two decades. For some mysterious reason, the events of 2008 aren't mentioned, where literally the entire world economy melted even with a very well funded and established gaggle of IMFs and central bank type arrangements. The single largest economic collapse in modern history does not warrant so much as a line from Ms. Lagarde, and it's no wonder the entire crypto notion born from it mere months later isn't retold. Crypto falls from the sky, evidently.   

Her rhetoric morphs into the plain shrill toward the end. Laughable lines such as protecting "consumers in the crypto world just as we have for the traditional financial sector" are surpassed by "the same innovations that power crypto-assets can also help us regulate them," an idea she glibly asserts they "can fight fire with fire." She believes, correctly, distributed ledger technology can be utilized, with a few tricks, to track users, a fact that undermines her earlier claim of crypto's dangerous anonymity.

"Better use of data by governments can also help free up resources for priority needs and reduce tax evasion, including evasion related to cross-border transactions. Biometrics, artificial intelligence, and cryptography can enhance digital security and identify suspicious transactions in close to real time. This would give law enforcement a leg up in acting fast to stop illegal transactions. This is one way to help us remove the 'pollution' from the crypto-assets ecosystem," the Managing Director urged. 

Friday, March 9, 2018

Yelp Announces New Feature For Bitcoin


Yelp officially announced on April 10th that it would add a feature for businesses to show if they accept bitcoin.

It is a simple feature but shows that bitcoin is still being adopted.

Quoted from yelps official blog post:

As a business owner, you can let your customers know you're accepting Bitcoin by logging into your free business owner tools on and updating your payment attributes.

Rumors about Yelp adding the bitcoin feature started circulating around April 10th. Several small stores have already turned the feature on and show that they accept bitcoin.

The good thing about this announcement is that it means merchant adoption is happening. We saw Xapo who brought bitcoin to a debit card and now Yelp announces further merchant features.

After the bad news from china that caused a dump today we saw an uptrend back up. This announcement definitely helped the bitcoin price today. Currently the buy volume is pretty strong so an uptrend is expected.

Thursday, March 8, 2018

Mt. Gox Soap Opera Continues: Karpeles Released on Bail, Shadow Companies, and Whale Dumps


Mt. Gox Mark Karpeles' release on bail has produced a new radio program examining the historic hack and heist, but is also raising questions about sister exchanges such as BTC-e and their role in laundering stolen bitcoin. If all that wasn't enough, a Gox trustee decided to dump over 400 million USD in bitcoin core and bitcoin cash in an effort to make Gox creditors whole.

Mt. Gox Money Laundered Through Always Efficient LLP, Claims FBI
Mt. Gox's Mark Karpeles, released on bail in Japan, recently told England's state-run media BBC Radio 4 File on Four how hard reality hit him back in 2014: "It felt like… when you fall from a building and you see the ground getting closer, and you feel like you are about to die. Mt Gox went from interesting project to being, I would say, a daily nightmare of dealing with banks, governments, people I never knew existed." At that time, something like 7 out of every 10 bitcoin transactions were handled by the exchange. "I am very sorry that when I was in charge things happened the way they did."

Mr. Karpeles is charged with data manipulation and millions in embezzlement, though he describes the latter as perfectly legal loans (none of the charges have to do directly with stolen Gox bitcoin). When dust settled, 650,000 bitcoin vanished, billions in value gone. BBC Radio 4 claims to have found out which regional company was used in laundering that loot, Always Efficient LLP. Mt. Gox Soap Opera Continues: Karpeles Released on Bail, Shadow Companies, and Whale Dumps

The US Federal Bureau of Investigation (FBI) claims London's Always Efficient LLP was behind the infamous exchange, BTC-e. US authorities effectively shut down the Russian exchange's site, charging an alleged principal, Alexander Vinnik, with multiple counts of international money laundering, including that derived from Gox. Mr. Vinnik was later arrested in Greece, and is awaiting extradition to the United States or Russia (for lesser charges). For its part, the exchange denies Mr. Vinnik's involvement. Investigators are claiming nearly half of Gox's stolen bitcoin were pushed through BTC-e.

In a statement to the BBC, Mr. Vinnick explained "BTC-e is just a web platform for buying and selling Bitcoin – not an exchange. As such it cannot be held responsible for the source of money used to buy Bitcoin, no more than a [currency exchange bureau] can be held responsible for exchanging a stolen $100 note into pounds sterling." He also denied any connection to Always.

The BBC 4 episode, The Missing Bitcoin Billions, concludes on Sunday 11 March, 20:00 GMT, and includes infuriating details of Gox's ongoings at the time. Mr. Glucksman, a former Gox employee, is quoted at length about Mr. Karpeles' quirks, among them "an interesting passion for quiche. Quiche as in mushroom and onion quiche, or something … in the building that we moved to, Mark had also purchased space at the bottom of the building that was going to be the bitcoin cafe. And initially the concept was for that to be a showpiece for bitcoin where you'd come in, you'd buy your coffee with bitcoin. But then he actually hired a chef who was a specialist in making quiches. He invested quite a large amount of money in an oven that was specifically built to cook quiche. It's quite a big distraction from the whole story of Mt Gox."

Market-Shaking Whale Dump by Mt. Gox Trustee
Mt. Gox Soap Opera Continues: Karpeles Released on Bail, Shadow Companies, and Whale Dumps
Mr. Kobayashi
"I made efforts to sell BTC and BCC at as high a price as possible in light of the market price of BTC and BCC at the timing of sale. I plan to consult with the court and determine further sale of BTC and BCC," Nobuaki Kobayashi, a trustee in the Gox case charged with paying back losses, explaining why 400 million USD in bitcoin core and bitcoin cash suddenly dumped onto markets. It's an effort to make Gox creditors whole, part of ongoing bankruptcy procedures which include nearly 2 billion USD worth of bitcoin core and bitcoin cash yet to be sold off. 

The sale carried over the last few months, resulting in JPY 42,988,044,343 (slightly over 400 million USD), after having sold 35,841.00701 in BTC and 34,008.00701 in bitcoin cash. Some analysts have openly wondered if parts of market prices crashing by half, say back on 5 February, had to do with the trustee's sale of 18,000 bitcoin that same day.  

The bitcoin were sold over a three month period, beginning in December of last year. "The matters such as the possibility of carrying out a distribution and the timing and method thereof have not yet been determined," Mr. Kobayashi detailed. Claims and claims against claims will probably push back justice in this case for even more years to come.

Thursday, March 1, 2018

Marshall Islands to Issue National Cryptocurrency


A small island nation with less than 60,000 inhabitants best known internationally as a former test site for nuclear weapons is joining the hottest new trend – issuing a national cryptocurrency. The planned Marshall Islands' Govcoin is expected to be issued later this year.

Marshall Islands Govcoin ICO
The Republic of the Marshall Islands plans to issue its own cryptocurrency as an official legal tender, to be known as the Sovereign. The local parliament voted this week to proceed with the issuing plan, Kenneth Kedi, a senator and the body's speaker, said in a Bloomberg interview. A council still has several days to object, a step he considers unlikely.

The Sovereign is expected to be issued later this year, David Paul, minister-in-assistance to the president revealed. The Marshall Islands government will arrange an initial coin offering (ICO) and exchanges will be allowed to apply to trade the currency, he said. The move is seen as a way to bolster local budgets, he added. "This was specifically targeted for the long-term needs of the country." A portion of the funds raised in the ICO offering will also be used to finance health care to islanders still affected by US nuclear weapons testing in the area decades ago, Paul said.

The National Crypto Trend
Offshore Tax Haven Marshall Islands to Issue National CryptocurrencyThere have been discussions for the last few years among central bankers about issuing national cryptocurrencies, mainly as an effort to to create a 'cashless society' or to try and answer the attraction to bitcoin by young people, as they see it. However, this trend has gotten a lot stronger recently, apparently because of the government of Venezuela pushing its own Petro.

The actual potential value of such national cryptocurrencies is still in doubt. For citizens, these digital currencies will not offer the alluring freedom from state control of bitcoin if they are really managed by the government. And if they are not run by the state then they will offer no benefit to central bankers. As the Russian Ministry of Finance recently informed President Vladimir Putin, the creation of a centralized coin seems impossible, as cryptocurrencies are based on decentralized ledgers.

Bitcoin Cash Price Surpasses $1,275 Again as Markets Bounce Back


With all cryptocurrency markets attempting to transition from a bear market to full-throttle bullish momentum, interesting things will happen in the coming days and weeks. The way things look right now, the Bitcoin Cash price is bound to gain a  fair bit of value throughout the day. Thanks to the current 5.4% gain, the Bitcoin Cash price has already surpassed $1,250 once again.

Given all of the volatility plaguing the cryptocurrency industry right now, any short-term gain needs to be put into its proper perspective. While things may look either decent or terrible for a specific currency, there's a good chance the momentum will turn around before the week is over. As such, the current 5% Bitcoin Cash price gain looks pretty good, but maintaining this momentum may prove to be difficult for this – or any other – market.

Even so, no one will deny the Bitcoin cash price is noting some interesting gains as of right now. Thanks to this small nudge, we are now looking at a value of $1,280 again. Compared to the $1,150 we hit not that long ago, this is a pretty decent gain altogether. Whether or not the Bitcoin Cash price can return to $1,500 or higher, remains to be seen, though.

It is also worth noting Bitcoin Cash is effectively gaining on Bitcoin itself. Given the "correlation" between these two currencies, it is worth keeping an eye on their ratio. Right now, the BCH/BTC ratio has changed by 3.43% in favor of the altcoin. As such, we may see some more Bitcoin Cash price gains later today, as the Bitcoin price is also moving up a bit right now. How all of this will play out, is anybody's guess, though.

With $445.823m in 24-hour trading volume, things are looking pretty good for Bitcoin Cash. Although this volume is lower than some people might want it to be, all markets suffer from a decrease in trading volume as of right now. Under half a billion is not stellar for Bitcoin Cash, but it is still a good amount better than most other currencies in the top 10 right now. If this volume can pick up the slack a bit, we may see more Bitcoin Cash price fireworks later today.

As of right now, OKEx is once again the largest trading platform for BCH trading volume. That in itself is pretty interesting to keep an eye on, although HitBTC is not that far behind, all things considered.  With no fiat currency pairs in the entire top five right now, things are not looking all that great, but one never knows what the next few hours or days may bring to the table either.  The first fiat currency market on the list is Bitfinex's USD pair with just $17m in volume.

Whether or not the Bitcoin Cash price will reach a new all-time high at some point in the near future, remains to be determined. For now, it seems anything is possible, although one never knows what the future holds in this regard. It is certainly possible the Bitcoin Cash price will each $1,300 later today, but whether or not this means we will see a push to a higher value by the time the weekend is over, remains to be determined. Anything is possible in the world of cryptocurrency, especially where the altcoins are concerned