Bitcoin is being Bitcoin. The price went as low as $2650 on Sunday, but soon bounced back to $2700. Bitcoin price has mostly been consolidating after BIP 91 lock-in. The fears of August 1st split have still not completely gone away.
We will surely have Bitcoin Cash (BCC/BCH) as a new altcoin. The question is whether it will have any impact on the price of Bitcoin. If BCC doesn’t get enough support, Bitcoin price will likely reach a new high – crossing $3000.
Top stories from the crypto world
1. Poloniex, Bitfinex to stop operations in Washington
Following the enactment of Senate Bill 5031 or the Uniform Money Services Act, major cryptocurrency trading platforms Bittrex and Poloniex will soon stop their operations in the state of Washington.
The law aims to regulate money transmitters and currency exchanges in the state, including virtual currency operators.
2. Coinbase faces withdrawal issues
Coinbase users on Saturday faced Withdrawal Delays of 12 Hours or More. Apparently, a lot of people are moving their funds off coinbase to the wallets they control in anticipation of the Bitcoin Cash hard fork. This caused a massive backlog for the company.
Notably, Coinbase has said that they will not support BCC/BCH (Bitcoin Cash). It seems the company is trying their best to stop users to withdraw as much as they can.
“Customers who wish to access both Bitcoin (BTC) and Bitcoin Cash need to withdraw Bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access Bitcoin Cash then no action is required” Coinbase said in a statement.
3. BTC-e Ethereum Funds move
$100 million worth of ETH are on the move from a wallet that belongs to BTC-e to.. no one knows where. It’s still unclear who has control over BTC-e wallets, after alleged operator Alexander Vinnik’s arrest last week.
BTC-e website is still down resulting in a 522 error or security warning. BTC-e account holders are even more concerned by this move and have expressed outrage.