Bitcoin Cash Hits Coinbase, Causing a Dip in BTC Prices While BCH Prices Soar

December 20th, 2017

Awake Goy

Editor’s note: Bitcoin Cash (BCH) corrected itself: going from around $8,000 per coin back to $3,000 within the span of a few minutes. Meanwhile, Bitcoin (BTC) seems to be slowly rising in value once again.

After months of rumors, it’s official: Bitcoin Cash (BCH) is coming to Coinbase.

A blog post on Tuesday has officially confirmed what many have been speculating for months: Bitcoin Cash—a fork of the Bitcoin blockchain—is headed to popular cryptocurrency brokerage Coinbase, effective as soon as there is “sufficient liquidity” on GDAX.

Users will be able to buy, sell, send, and receive Bitcoin Cash on the platform.

This follows a recent surge in price in BCH. Following the announcement, Bitcoin plunged by 12 percent, dropping below $17K, while BCH jumped several hundred dollars, clearing the $3K mark. The current listed price on CoinMarketCap is $3,387.54.

In the post, Coinbase expressed their belief that customers should not be hurt by forks that occur outside their control, saying:

Coinbase operates by the principle that our customers should benefit to the greatest extent possible from forks or other networks events. This is essential in our mission to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange.