https://i.postimg.cc/Nf0mTk0B/bitcoin-cash-fork.jpg

# A major part of the selloff from yesterday had to due with BCH.

Specifically, it had to do with the BCH hardfork that was scheduled for this morning.

There were two competing visions for what they wanted BCH to ultimately become.

Which normally would not be that big of deal, except in this case both groups have vast amounts of resources connected to other cryptocurrencies, like bitcoin.

On top of that, one group has been threatening that if his vision does not ultimately win out, he will sabotage the other, as well as the entire crypto market.

Whether he has that kind of power remains to be seen, but it does give people some cause for concern.

# The spark?

As was reported yesterday by CNBC and Brian Kelly, several large crypto hedge funds decided to take their positions off the table prior to this hardfork. The reason being the uncertainty surrounding it and how everything will play out.

https://www.cnbc.com/2018/11/14/bkcm-brian-kelly-crypto-civil-war-slams-bitcoin-but-not-for-long.html

As these funds sold their positions, stop losses were likely triggered around that key $6k level, which further exacerbated the selling pressure.

The result?

We get about a $1k drop in less than an hour.

# Possibly short lived?

If this really was the main catalyst for the selling, one would think that as we get past this hardfork and as the uncertainty goes away, much of that money likely finds its way back in.

Which would mean prices may go back up over the next couple days as the hardfork drama gets sorted out.

We will see over the next few days.

Stay informed my friends.

Image Source:

https://nulltx.com/bitcoin-cash-price-remains-stable-as-pre-fork-trading-volatility-increases/

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