Bitcoin Classic Has Waved the White Flag – Closing in ‘Days or Weeks’
Bitcoin Classic has waved the white flag. They are shutting down in the belief that Bitcoin Cash will become ‘Bitcoin’ within the next 6 months. Release manager from Bitcoin Classic, Tom Zander, put out a statement praising the success of Bitcoin Cash and its strong market position.
Bitcoin Cash has seen significant growth, recently fueled by the expected fork with Bitcoin Gold along with SegWit2x’s failure. The price increased by nearly 35% thanks to the anticipation caused by the new fork expected to be made live this weekend with Bitcoin Gold. After SegWit2x’s suspension of the expected hard fork, money is flowing into Bitcoin and Bitcoin Cash as investors continue to make bets on the possibility of new chains being created. Public support has been flowing in from top crypto figures as well as regulators for Bitcoin Cash as well. Before these announcements, Bitcoin Cash was not seeing much significant movement but these events have propelled it into the spotlight and possibly to give it the new title of Bitcoin.
The price of Bitcoin recently has tanked and is currently sitting at less than $6,500 while Bitcoin cash has seen a spike in its price and is trading at an all time high near $947 at this time. This trend is only expected to continue. As you can see in the below chart, Bitcoin peaked in early November but within weeks or months is expected to be surpassed by Bitcoin Cash due to its much quicker transaction speed.