Published On: Sat, Aug 5th, 2017

Bitcoin news LIVE: Latest prices as Bitcoin cash falls but Bitcoin soars – Updates, charts

cash surged above $750 dollars before falling and rising again on the first full day of trading on Wednesday, according to CoinMarketCap. 

The price of bitcoin cash has now fallen to under $350 but it remains of the biggest cryptocurrencies on the market. 

The volatility came amid warnings that proper price discovery had not taken place because many users were unable to start trading straight away. 

A group of miners created bitcoin cash (BCH) by spitting off from the main bitcoin blockchain, causing a ‘fork’ in bitcoin’s software and transaction history. 

Amid concerns over trading chaos and the impact on bitcoin’s price, here is a look at the latest cash price and breaking news. (All times BST) 

Saturday August 5

11.45am: Bitcoin spikes on the markets

Bitcoin is currently trading at $3206.59 as of 11.45am, according to CoinDesk.

The currency opened at $2,883.68, and so far reached a high of $3,242.82.

Bitcoin cash meanwhile is trading at $242.72  as of 11.45am, according to CoinMarketCap. Bitcoin breaks $3,000 to reach new all-time high.

A number of exchanges, including Coinbase and Kraken, valued a single bitcoin at over $3,000, an all-time high – up $485 on the valuation one month ago.

Over the last twelve hours, bitcoin’s value has jumped by over 10 per cent.

Friday August 4 

9.15pm: New ‘bitcoin cash’ crashes 30 per cent in volatile first week of trading

Bitcoin is holding up well against its offshoot rival in its wild first week of trading.

The new “bitcoin cash” plunged 30 per cent Friday to below $300, while the original cryptocurrency edged higher and approached $2,900, nearly triple in value for the year.

Bitcoin split into bitcoin and bitcoin cash on Tuesday, with new digital currency swinging dramatically amid limited trading access.

Bitcoin cash leaped from around $220 to above $700 briefly on Wednesday, before crashing Friday to $287 in early afternoon trade, according to CoinMarketCap, which tracks prices across exchanges.

Digital currency enthusiasts attributed the decline in the last day to an increase in exchanges accepting deposits of bitcoin cash.

6.04pm: Bitcoin remains steady on the markets

Bitcoin is currently trading at $2870.87 as of 6.04pm, according to CoinDesk.

The currency opened at $2,814.36, and so far reached a high of $2,895.83.

Bitcoin cash meanwhile is trading at $276.58 as of 6.04pm, according to CoinMarketCap.

2.43pm: Bitcoin cash continues to fall after volatile start on the market 

Bitcoin cash is at $287.08 at 2.43pm on Friday August 4, according to CoinMarketCap. 

Bitcoin cash on Thursday August 3: Opened at $448.49, high of $519.28, low of $364.05, closed at $364.05. 

1.15pm: Bitcoin cash price could fall even further 

Charles Hayter, chief executive and founder of digital currency comparison website CryptoCompare, believes that the price of bitcoin cash is bound to fall even further.

“The fervour and price rises within the first few hours can be blamed on slow supply reaching markets and excessive initial exuberant demand,” he told CNBC.

“The ability to short the market (bet on the price falling) should bring about more efficiencies as reality bites into the price.”

11am: Coinbase to support bitcoin after all

Coinbase said: “Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers.”

It told customers that bitcoin cash is safely stored on Coinbase, adding: “We made clear to our customers that we did not feel we could safely support it on the day it was launched.”

10am: Bitcoin on the rise again after trading steady 

Bitcoin opened at $2,814.36. Bitcoin’s high is $2,865.67 and its low is $2,797.12 so far today.

9am: Bitcoin cash falls after volatile start on the market 

Bitcoin cash is at $334.18 at 10.07am on Friday August 4, according to CoinMarketCap. 

Bitcoin cash on Thursday August 3: Opened at $448.49, high of $519.28, low of $364.05, closed at $364.05.

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