- Bovada is voiding all Bitcoin Cash wagers following a hard fork that led to the creation of two new cryptocurrencies
- Will Bitcoin bounce back after having one of its worst weeks on record?
- Is Bitcoin ABC a reliable new option for bettors and investors?
Bovada customers are dealing with a harsh new reality today after the online sportsbook announced it will be voiding all existing Bitcoin Cash wagers.
The announcement comes on the heels of the recent BCH hard fork, which occurred on November 15th, and effectively splintered Bitcoin Cash into two new form of cyrptocurrency known as Bitcoin ABC (Adjustable Blocksize Cap) and Bitcoin SV (Satoshi’s Vision).
Bitcoin’s Value is in Decline
Hard forks are not unusual, but the latest schism has had a dramatic impact on Bitcoin’s value as the cyrptocurrency dropped by 33% last week and is now worth 82% less than its high of $19,666 from a year ago. That’s a massive decline and it has many investors – and bettors – justifiably concerned.
Bitcoin Sets New Low over Weekend, Continues Dropping on Monday pic.twitter.com/JqSfB8TCtd
— coursbitcoin (@coursbitco) November 27, 2018
Bitcoin – or Bitcon – as some have taken to calling it, has lost nearly $700 billion in value since January and is currently trading at a price of $4,278 U.S. Its sharp drop-off has rattled investors and confirmed the suspicions of many analysts who have long considered digital currency to be little more than a passing fad.
Will Bovada Bring Back Crypto Props?
Bovada is hoping the cryptocurrency market will stabilize soon, allowing them re-enable crypto props once again. Stay tuned for more details as they become available.