{"id":15282,"date":"2017-11-13T00:00:00","date_gmt":"2017-11-12T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2017\/11\/13\/dash-is-the-elephant-in-the-room\/"},"modified":"2021-09-18T11:39:03","modified_gmt":"2021-09-18T11:39:03","slug":"elephant","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/elephant\/","title":{"rendered":"\u201cDASH Is the Elephant in the Room\u201d"},"content":{"rendered":"

\"Bitcoin<\/a><\/p>\n

Bitcoin Dips Under $6K, DASH Wins as Traders Punish BTC and BCH<\/h1>\n

2259 Views<\/p>\n

November 12, 2017\u00a0by\u00a0Jon Southurst<\/a>\u00a00 Comments<\/a><\/p>\n

Bitcoin has dipped below the $6,000 USD mark as investors initially appeared to switch their money to rival Bitcoin Cash (BCH). However it wasn\u2019t all smooth for BCH either \u2014 both blockchain siblings were left bleeding value as traders eventually abandoned both. For now, most of the momentum has gone to DASH.<\/p>\n

Also read:\u00a0New Bitcoin Core Release: 0.15.1 Comes Amid Fork, Price Turmoil<\/a><\/em><\/p>\n

Join the\u00a0Bitsonline Telegram channel<\/a>\u00a0to get the latest Bitcoin, cryptocurrency, and tech news updates:\u00a0https:\/\/t.me\/bitsonline<\/a><\/em><\/p>\n

Bitcoin Siblings BTC and BCH Fight, Get Punished<\/h2>\n

At press time, Bitcoin is either hovering just above or below $6,000, depending who you ask.\u00a0Bitsonlin<\/em>e\u2019s own index has it at $6,018.32 \u2014 however it dropped below the landmark on Coinbase before 6 AM EST, and CoinMarketCap has it at $5,998.81.<\/p>\n

It had hit $7,751 on\u00a0CoinMarketCap<\/a>\u00a0as recently as 8th November.<\/p>\n

\"Coinbase<\/p>\n

Chart via Coinbase<\/p>\n

Yesterday\u2019s selloff could have been much worse. Traders clogged the BTC network hours earlier trying to ditch bitcoin, fearing a \u201cflippening\u201d of value to Bitcoin Cash was underway that could leave BTC with nothing. Ironically, the long confirmation delays this caused may have shielded BTC, preventing further moments of panic.<\/p>\n

In the end, though, it was BCH that took the biggest hit. After reaching a peak around $2,420, its price then tanked as Korean exchange Bithumb \u2014 reportedly where most trading activity was happening \u2014 went offline for maintenance and CoinMarketCap removed it from its index.<\/p>\n

There were further moves upward later, but none topped $1,800. At press time, BCH sat at $1,337 (heh).<\/p>\n

\"BCH<\/p>\n

For the record, when Bitcoin was hitting its $7,700+ highs on November 8th, BCH was still around $600. So it remains a winner for the week.<\/p>\n

DASH Is the Elephant in the Room<\/h2>\n

It appears traders ultimately tired of the Bitcoin siblings\u2019 bickering, and put them both out of the car. But where did their money go next? Going purely by stat charts, it appears they quietly turned to DASH. The privacy coin was hovering around the $300 mark on November 8th, but has leapt 32.78 percent to $461 by press time, in the immediate wake of the Bitcoin war.<\/p>\n

Ethereum ETH also regained its #2 market cap spot, which it lost briefly to BCH, rising 4 percent to $321. DASH\u2019s own rival Monero gained 7 percent and now sits at $128.<\/p>\n

Why DASH, though? Is it just coincidence, or do investors actually now see it as a viable alternative to the Bitcoin family? It certainly has the best marketing of any cryptocurrency, and never misses a chance to grab the spotlight.<\/p>\n

Whether it can hold its November gains or not is, as always, unknown.<\/p>\n","protected":false},"excerpt":{"rendered":"

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