By Alex FraderaThe cryptocurrency is expected to be worth $400 billion by the end of the year and is currently trading around $650.
It has been in a tailspin since the fork in August and is trading at about $570.
The main reason for the volatility is the collapse of the Bitcoin Cash price and the cryptocurrency’s lack of support from major players in the financial industry.
“The fact that Bitcoin Cash has collapsed to below $570 is an ominous sign for Bitcoin and its future,” said Bitcoin Core developer Gregory Maxwell in a blog post.
“It means that if Bitcoin Cash fails to gain sufficient market acceptance, it could also be wiped out.”
Bitcoin Cash is not a major player in the cryptocurrency market.
The currency, which was originally dubbed “BCH” for Bitcoin Cash but changed to Bitcoin, has since gained popularity as a way to circumvent transaction fees and to move money faster through more secure transactions.
The currency is still trading at roughly $570 after the fork and has since started trading at a record high.
But some analysts believe that the currency is about to reach the price it has reached in the past and the collapse is just a precursor to a much more rapid collapse.
In fact, many of the people who had invested in Bitcoin Cash before the fork had done so due to the fact that it had been “undervalued” by the time the price went up.
Even some mainstream investors were surprised when the price of Bitcoin Cash jumped up over $800 after the initial spike, said Maxwell.
A lot of Bitcoin investors and traders lost money when Bitcoin Cash started trading up.
“There are a lot of people who have lost money,” said Maxwell, referring to the initial price jump.
It has also been reported that some of the original Bitcoin investors were forced to sell their shares of Bitcoin.
There is also a growing perception that the cryptocurrency is “too big to fail.”
In the past week, Bitcoin Cash was trading at around $470 after the block size increase that was proposed by Bitcoin Core developers.
Bitcoin is now trading around around $660.
If Bitcoin Cash does not regain market acceptance or the cryptocurrency goes into a long-term correction, it will be a huge setback for the cryptocurrency, said Bitcoin investor Andrew Poon.
I think that the market will probably be very much in the same place where it is right now, but the Bitcoin ecosystem will likely not recover, he said.
With the Bitcoin price going up again, it may be time to start thinking about the future.
We’re in the final phase of Bitcoin Core’s design, so we need to figure out what the future holds.
That will help us make decisions on what to do with Bitcoin Cash in the long run.
Maxwell also highlighted that Bitcoin is an investment vehicle, which means that it is “capable of being a store of value and not just a currency.”
It will be interesting to see what happens next as the currency goes through its hard fork, which is expected in February.
This article originally appeared on Crypto Coins.