After the temporary shutdown of Bitcoin Cash trading on Coinbase and GDAX due to rumours of internal trading misconduct, GDAX (a baby company of Coinbase) recently announced on twitter it will be resuming trading of Bitcoin Cash on GDAX on January 17th at 9 am. PST.
Bitcoin Cash on GDAX
After the initial listing of Bitcoin Cash on Coinbase and GDAX on December 19th, we saw a lot of excitement within the Crypto space not only from BCH holders and investors, but also from holders of other cryptocurrencies who were pleased with the development and addition of a new coin on Coinbase which gave them hope of the possibility of their own individual coins being added at some point. With the popularity and respect Coinbase has within the Crypto space, it always comes with so much excitement when a new coin is being rumoured to get listed on it or its baby company GDAX as we saw with the Ripple Rumour.
However, only a few hours after trading of Bitcoin cash on GDAX and Coinbase commenced, it was rumoured that some insider trading was ongoing as the value of Bitcoin Cash shoot up drastically before later having a correction. This allegation was, never directly accepted by Coinbase but rather, they decided to temporarily halt trading activities while they investigate the matter.
As we all know, the Crypto space is very accustomed to price increases whenever a positive announcement as such is being made but we have rather, not seen any significant changes on the price of Bitcoin Cash ever since the announcement was made.
This could be attributed to the difficulties the Crypto space faced last week from FUD involving South Korean Justice department announcing a Crypto ban on noncompliance exchanges to Indonesia moving towards banning all Crypto related activities in the Country and Brazil declaring cryptocurrencies as a non-financial asset.
Nonetheless, it’s not the first time we have experienced such FUD within the crypto space and it will not be the last. As cryptocurrencies get constantly hit with both good and bad news, it is left to see what impact this will have on the price of Bitcoin Cash on the 17th after it has been listed.
What are your thoughts on this announcement? Do you think Bitcoin Cash on GDAX will see a significant movement in its price?
Please let us know your thoughts in the comment section below.