Colin First
Add to Bookmarks

The bitcoin prices have begun to move higher over the last 24 hours at the end of the hard fork which led to the birth of bitcoin gold. This is something that we had mentioned in our forecast yesterday where we had said that the correction seen in the bitcoin prices ahead of the fork was likely to be temporary and that we are likely to see the prices move higher once the investors and traders became confident that the fork was managed successfully. With the fork being done and dusted, it is now time to focus on the overall impact of the fork as far as mining and trading is concerned. There was a lot of concern that some miners and investors as well as developers might move to bitcoin gold and this is what is likely to have the most impact. In the case of bitcoin cash, born out of the fork in August, the impact has been minimal so far which has helped the bitcoin prices to move higher.

Get Into Bitcoin Trading Today

Know where Bitcoin is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Bitcoin Prices Move Higher After Fork

It remains to be seen what kind of developmental impact, the birth of bitcoin gold is likely to have on the main bitcoin market and this will determine the strength of the bitcoin market going forward. We expect this impact to be minimal at this point of time which will then likely help the prices to continue to move higher once the speculators and the investors begin to gain enough confidence with the bitcoin industry once again. At the same time, the market would also begin to get ready for the next hard fork scheduled in the middle of November which is expected to have a larger impact on the bitcoin industry as a whole.

Bitcoin 4H

The Ethereum prices have been in a consolidation mode over the last 24 hours and the impact of the hard fork in bitcoin on ethereum has been minimal so far. Ethereum has had to deal with its own hard fork a few days earlier and though the fork was successful, it looks as though it might take a bit of time for the network to become stable once again. Till then, we can expect the ETH prices to continue to trade in a weak manner.



As far as today is concerned, we can hope to see the bitcoin prices move towards  the $6000 region as more and more investors begin to jump in again on the network and begin to trade it higher. As far as ethereum is concerned, expect to see some consolidation on either side of $300 for the time being.

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, Some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker