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Bitcoin Cash

When was bitcoin cash added to coinbase?

Bitcoin Cash (BCH) is a cryptocurrency that was created in 2017 as a result of a hard fork of the original Bitcoin (BTC) blockchain. It was added to Coinbase, one of the largest cryptocurrency exchanges in the world, on December 19, 2017. In this article, we will explore the reasons behind the addition of Bitcoin…

Bitcoin Cash (BCH) is a cryptocurrency that was created in 2017 as a result of a hard fork of the original Bitcoin (BTC) blockchain. It was added to Coinbase, one of the largest cryptocurrency exchanges in the world, on December 19, 2017. In this article, we will explore the reasons behind the addition of Bitcoin Cash to Coinbase and the impact that it had on the cryptocurrency market.

The addition of Bitcoin Cash to Coinbase was a highly anticipated event in the cryptocurrency community. The decision to add Bitcoin Cash was made after months of deliberation by Coinbase, which had been under pressure from its users to add the cryptocurrency. Coinbase had previously stated that it would not support Bitcoin Cash, but changed its mind after the currency gained significant traction in the market.

The addition of Bitcoin Cash to Coinbase was seen as a significant development for the cryptocurrency market. Bitcoin Cash was created with the aim of improving upon the original Bitcoin blockchain, which had become slow and expensive to use. Bitcoin Cash was designed to be faster and cheaper to use, making it more attractive to users who wanted to use cryptocurrency for everyday transactions.

The addition of Bitcoin Cash to Coinbase also had a significant impact on the price of the cryptocurrency. After the announcement was made, the price of Bitcoin Cash soared, reaching an all-time high of $4,355 on December 20, 2017. This was a significant increase from its price of around $1,000 just a few weeks earlier.

The addition of Bitcoin Cash to Coinbase also had a ripple effect on other cryptocurrencies. The price of Bitcoin, which had been the dominant cryptocurrency in the market, dropped as investors shifted their attention to Bitcoin Cash. Other cryptocurrencies, such as Ethereum and Litecoin, also saw their prices drop as investors sold off their holdings to buy Bitcoin Cash.

The addition of Bitcoin Cash to Coinbase was not without controversy. Some members of the cryptocurrency community accused Coinbase of insider trading, alleging that the exchange had informed its employees of the addition of Bitcoin Cash before making the announcement to the public. Coinbase denied these allegations, stating that it had conducted an internal investigation and found no evidence of insider trading.

In conclusion, the addition of Bitcoin Cash to Coinbase was a significant event in the history of cryptocurrency. It helped to establish Bitcoin Cash as a legitimate cryptocurrency and gave it a boost in the market. The addition also had a significant impact on the price of other cryptocurrencies, causing a shift in the market. While the addition was not without controversy, it demonstrated the growing mainstream acceptance of cryptocurrency and its potential to disrupt traditional financial systems.

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