Exchanges to Support BCH ABC Hardfork

Exchanges to Support BCH ABC Hardfork

Several major exchanges have already announced their support for the soon-to-be BCH ABC upgrade; and Craig Wright, who backs BCH SV, is calling foul on an exchange’s short option for BCHABC/BCHSV

Binance, Bitfinex, BitPay, Coinbase, and Kraken announced they will be supporting the Bitcoin Cash ABC hardfork.

Binance would like to confirm support for the upcoming Bitcoin Cash hardfork. We will take a snapshot of all Bitcoin Cash balances at UNIX time 1542300000, 2018/11/15 4:40 PM (UTC). Deposits and withdrawals of Bitcoin Cash will be suspended starting from 2018/11/15 3:00 PM (UTC).

Binance statement

Initially Kraken will only support Bitcoin ABC, which follows the Bitcoin Cash upgrade roadmap published by bitcoincash.org… On November 15 Kraken will prepare its Bitcoin Cash (BCH) wallets to be Bitcoin ABC specific so that coins from any alternative chains will be retained and not sent out from our wallets in withdrawals.

Kraken statement

BitPay is advising its users to avoid transacting with BCH at least two hours before the fork as there is a possibility of risk of double-spending and lost transactions. BitPay also said it will not ‘migrate from Bitcoin ABC implementation of Bitcoin Cash’.

BCH/USD Trading Update

BCH consolidation has diluted at the start of the week. It is now trading at $516.38, down 5.26%. It has a market cap of over $9 billion, making it the fourth largest cryptocurrency.

Poloniex is Naked Shorting?

Poloniex opens the option for traders to trade BCHABC and BCHSV. According to a report, BCHSV surpassed BCHABC. But Craig Wright is not happy about the pre-trade offering, calling it a criminal offense.

BitMEX Research on the BCH Hardfork

Last week, 6 November, Finrazor reported that in anticipation of the upgrade, the research arm of BitMEX will be watching BTC nodes through Fork Monitor. The fork monitoring website is closely watching a total of 13 BTC nodes.

Bitcoin Cash

BCH
Price
437.73 USD -8.18%
0.05000000 BTC 1.32%
Volume, 24h
413,284,164 USD
0.00%
Marketcap
7,654,144,761 USD
2.8%
Emission
85%

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Binance Refutes any Rumors of Police Raid on Its Shanghai Office

Coinspeaker Binance Refutes any Rumors of Police Raid on Its Shanghai OfficeThe rumor in the air has been that Binance has shutdown its Shanghai following a police raid. On Thursday, November 23, several online publications including CoinSpeaker reported that Binance has relocated its 100-member Shanghai team to other offices in Singapore.The report also states that Binance has planned to shut down its Shanghai office completely. Furthermore, it added that Binance CEO and founder Changpeng Zhao and the company’s Chief Marketing Officer (CMO) Yi He, have already moved to Singapore.But it a word with CoinTelegraph later, a Binance spokesperson refuted all the claims and media reports. He said that any police raid on Binance’s Shanghai office actually did not happen. The spokesperson added:“The Binance team is a global movement consisting of people working in a decentralized manner wherever they are in the world. Binance has no fixed offices in Shanghai or China, so it makes no sense that police raided on any offices and shut them down.”In fact, the Binance CEO Changpeng Zhao has even gone out to tweet about this matter.No police, no raid, no office. Hope you didn’t pay to read that FUD block. pic.twitter.com/W2msvY2hSA— CZ Binance (@cz_binance) November 22, 2019The spokesperson alleged that the Chinese media has been targetting the crypto exchange recently. He also mentioned that there’s been “a recent spike in the number of negative articles and activities against Binance” in the country.Adding to the company statement, Changpeng Zhao said:“Interestingly, I know for a fact two of these four exchanges that actually have offices in China is paying news outlets and KOLs to spread FUD about Binance. And not thinking through if China is to shut down any offices, it would be themselves”.Zhao message arrived in response to a user saying that there are still a few exchanges like Kucoin, Huobi and others physically operating in China based upon their “interest alignment with the government officials”.One of the users also questioned Binance’s frequent shifting of offices in the last few years. Responding to it Zhao tweeted:You can argue about the semantics of an office, who leased it, for how long, if it is empty, etc. But you can't argue about the semantics of a "police raid" that did NOT happen. Without the fake "police raid", there is no article. Pure FUD! https://t.co/o6xXwrU5WK— CZ Binance (@cz_binance) November 22, 2019The Chinese government has been dealing strictly with companies involved in crypto operations ever since its ban in 2017. On the other hand, Binance has managed to swiftly move its operations and expand its services over the last two years. Binance is currently one of the top-ranking exchanges in terms of trading volume, in the world.Moreover, the exchange is working on its geographical expansion rather actively these days. Let us just remind you that Binance has recently entered the U.S. crypto market launching its regulatory-compliant exchange there.Binance Refutes any Rumors of Police Raid on Its Shanghai Office
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Bitcoin Cash Analysis: BCH Tumbling, $200 Holds Key

Bitcoin cash price is declining and it recently broke the $238 support area against the US Dollar. The price is struggling to recover and it seems like it may even break the $215 support. There is a key bearish trend line forming with resistance near $240 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair remains at a risk of more losses towards the main $200 support area. Bitcoin cash price is tumbling below $238 and $220 against the US Dollar. BCH/USD is likely to test the $200 support area, where the bulls might take a stand. Bitcoin Cash Price Analysis In the past few days, there was a steady decline in bitcoin cash price after it failed to break the $300 resistance area against the US Dollar. BCH price broke many supports near the $260 level to enter a bearish zone. Moreover, there was a close below the $238 support and the 55 simple moving average (4-hours). Finally, the price moved below the $225 support level and traded to a new monthly low near the $217 level. Recently, there was a minor upside correction above the $220 level. However, the price struggled to settle above the 23.6% Fib retracement level of the recent decline from the $247 high to $217 low. On the upside, there are many resistances near the $232 and $238 levels. The first key resistance is near the $232 level since it coincides with the 50% Fib retracement level of the recent decline from the $247 high to $217 low. Besides, the main resistance is near the $238 and $240 levels. More importantly, there is a key bearish trend line forming with resistance near $240 on the 4-hours chart of the BCH/USD pair. Therefore, an upside break above the $238 and $240 levels is needed for a decent recovery in the near term. Conversely, bitcoin cash price may perhaps continue to move down below $215. The next major support area is near the $200 handle, where the bulls might emerge. Any further losses possibly will really set panic and the price could drop towards $150. Bitcoin Cash Price Looking at the chart, bitcoin cash price is clearly declining heavily below the $238 and $225 levels. The price is likely to test the main $200 support, which holds the key. On the upside, the bulls need to gain strength above $238 and $240. Technical indicators 4 hours MACD – The MACD for BCH/USD is currently gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is currently in the extreme oversold region. Key Support Levels – $215 and $200. Key Resistance Levels – $225 and $238. The post Bitcoin Cash Analysis: BCH Tumbling, $200 Holds Key appeared first on Live Bitcoin News.
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