Cryptocurrencies Market Overview - November 13, 2017steemCreated with Sketch.

A lot has happened in the crypto space last weekend. The price of Bitcoin Cash went absolutely crazy while fees on the Bitcoin network surged to over 10,000 Satoshis per byte. Due to high price of BCH and the low difficulty mining Bitcoin Cash became much more profitable, hence many Bitcoin miners switched to Bitcoin Cash. This caused a huge backlog on the Bitcoin network which made Bitcoin Cash's price rise even more. This party came to an end at the latest difficulty adjustment on the Bitcoin Cash network and since then most miners switched back to the 'real' Bitcoin. At this moment it is 164.5% more profitable to mine on the original Bitcoin chain.

On the first mined block after 7:06PM GMT today, the Bitcoin Cash network is scheduled to experience a hard fork / network upgrade. More information about the event can be found here. This may impact both the price of BCH and BTC.

The fees are still pretty high, but not as crazy as 10,000 Satoshis per byte. Such high fees have never occurred before on the Bitcoin network. On block 494045 the fees in the block (13.4 BTC) where even higher than the block reward (12.5 BTC). This has never happened before!

Meanwhile, the Bitcoin Gold mainnet is live, but the coin is not available on any exchange yet. Bitcoin Gold futures are being traded on a few exchanges though, but I'm waiting on the exchanges until I can sell a part of my Bitcoin Gold. A nice Bitcoin dividend :)

Cryptocurrencies Market Overview for Monday, November 13, 2017

24 Hour Change

Realtime chart on my website CoinMarkets.today

7 Day Change

Month-to-Date Change

24 Hour Volume

Market Capitalization

Bitcoin daily chart

Feel free to use and share my charts, but please mention me as the author.

Latest Crypto News - November 13, 2017

Bitcoin Price Surpasses $6,500 Again After Very Difficult Week

Last week has been a pretty rough one for the Bitcoin price, to say the very least. That is not entirely surprising, as the main focus was on pumping Bitcoin Cash well beyond its true value. Slowly but surely, things are changing in favor of the Bitcoin price once again. With a Bitcoin price of $6,547 at the time of writing, an important first step has been taken. The big question is whether or not we will see more dips before the year is over.
Read more: themerkle.com

More:

Recovery In Doubt? Bitcoin Price May Not Sustain Above $6,500

Bitcoin is in recovery mode today. As of writing, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $6,523, having reached a high of $6,559 so far. As per CoinMarketCap, the cryptocurrency has gained 3.54 percent in the last 24 hours.
Read more: coindesk.com

Bitcoin Gold Goes Live After Bumpy Blockchain Launch

The newest fork of the bitcoin blockchain is officially live after a rocky start. Developers for the project, dubbed bitcoin gold, published software for the breakaway cryptocurrency today, releasing the code on GitHub as well. Aimed at blocking the use of specialized chips for mining, the project revealed last week it was eyeing a formal launch on Sunday, weeks after it first initiated a split from the main bitcoin blockchain.
Read more: coindesk.com

Other sources:

DASH Spikes, Following Bitcoin Uncertainty

Among the dramatic moves of Bitcoin and Bitcoin Cash, DASH is taking the spotlight, peaking near $450.
Read more: cryptovest.com

Other sources:

Bitcoin Cash Watch: Five Factors Behind the Weekend Rally

Bitcoin Cash rose to a peak above $1,800, propped by Korean exchanges- but the whole picture of the rally is more complex.
Read more: cryptovest.com

UK threatens to shut down popular Bitcoin investment site BitConnect

It turns out Ethereum founder Vitalik Buterin might have been right to suggest popular Bitcoin investment platform, BitConnect, has been running a Ponzi scheme after all: the UK Registrar of Companies has threatened to shut down the dodgy platform and dissolve its operation.
Read more: thenextweb.com

Ethereum Classic: Summit to Outline Coin's Future

Ethereum Classic is forging its fate during the Ethereum Classic Summit, as the market price surges to near-record highs.
Read more: cryptovest.com

Japan Teaches Western Governments a Lesson in Cryptocurrency Regulation

Bitcoin is a phenomenon that provokes conflicting emotions in people. Fear. Excitement. Elation. Doubt. For governments tasked with regulating every new thing that comes along, be it the motor car or the internet, bitcoin presents a conundrum. How to regulate such a seemingly unregulatable creation? While many western governments have reached for the button marked “Fear”, Japan has taken the reverse approach.
Read more: bitcoin.com

Hewlett Packard Enterprise to Launch Blockchain Product in 2018

Business technology firm Hewlett Packard Enterprise is launching a new blockchain service next year.
Read more: coindesk.com

Lightning Must Strike Soon, Bitcoin Facing Backlogs as Scalability Solution Awaited

At press time, the Bitcoin network is currently facing a backlog of over 135,000 unconfirmed transactions and fees have soared. This comes days after the proponents of the SegWit2x scaling solution announced they wouldn’t move forward with a doubling of Bitcoin’s block size due to lack of consensus. Since larger blocks are clearly dead in the water, there is only one apparent solution to the scalability problem: lightning network.
Read more: cointelegraph.com

¯\___(ツ)____/¯ Don't miss out on my next post! Follow me @penguinpablo

Sort:  

Isn't this just post advertising, commenting with your link at the article of @penguinpablo?

I provided a piece of intel regarding the probable cause of the bitcoin cash phenomena. Internet links were partially invented so we don't have to keep typing out webpages every time we want others to read them. ;)

It would be nice to thank @penguinpablo first.

I upvoted the post - thanks are a pleasantry - yes.. sometimes we are busy and are our own action is valued thanks enough.

I'm pretty surprised how quickly BTC recovered to the $6500 level. I don't think it will hold though. Probably drop to mid $5000's....I would like to purchase more at that price before the next run up.

nice post thanks for keeping us updated

great to see altcoins going up again!

Thanks for good info @penguinpablo
Re-steemed

Very useful all your posts @penguinpablo!

Keep going :)

That 24 hour volume though!

Thx for your useful summaries of the crypto news ;-)

lost a lot in the market this week due to a bad decision "BTG"

awesome info thanks for this detailed article

"Bitcoin Gold futures are being traded on a few exchanges though, but I'm waiting on the exchanges until I can sell a part of my Bitcoin Gold. A nice Bitcoin dividend :)" What exchange(s) will you most likely use to trade your 'gold?'

In this order: Bitfinex, Kraken (Although very slow currently), Bittrex, Poloniex.

Awesome, thanks