Bitcoin Cash Craig Wright Threatens To Crash Bitcoin To $1000

BCH Figure Craig Wright Threatens To Crash Bitcoin To $1000

As Bitcoin Cash hardfork goes live, the tensions have continued to rise with one of the parties, BCH/SV threatening to send major cryptocurrency, Bitcoin to rock bottom.

In a tweet posted by controversial BCH figure, Craig Wright on Nov 14, he promised to sell off the largest volumes of BTC which he holds to finance his Bitcoin Cash ambition.

Wright who has labeled himself in the past as Satoshi Nakamoto said he would sell his BTC for USD if Bitcoin miners migrate from mining Bitcoin to mining BCH.

If such a situation were to occur, then Craig and his supporters are likely to have less hashing power than is required to split the Bitcoin Cash network or implement only the changes they are proposing.

Crypto Markets Could Plunge Deeper

Even though no one knows exactly how much of BTC Craig Wright holds at the moment, there is a big chance that he holds large chunks of it, but maybe not enough to send BTC crashing back to $1000.

In a follow-up tweet, he even brought up the thought of opposing party, Bitmain Founder Jihan Wu selling his BTC to support the quest for hashing power. BCH figure, Roger Fer has not declared his support for any of the parties but is being touted by Wright as another who could give up his BTC to support the hardfork.

At this point, the crypto markets are bleeding and will not need to shed more losses. We will hold our breath and wait for the outcome of BCH hardfork.

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