Buy or Sell? What Traders Think About Tomorrow's Bitcoin Cash Fork

While previous forks have been supported en masse by bitcoin cash developers and miners, there are now marked differences of opinion between supporters of two main versions of the software - Bitcoin ABC and Bitcoin SV - over the future the direction of the code's specific features.

Announcing their support for the upcoming hard fork.

That's likely because, if the major exchanges are accommodating the fork, potentially millions of traders will have access to BCH buying and will just need to wait a little for their wait for the free coins, and, as such, a wave of demand was triggered by the news.

Cryptocurrency trader Josh Rager described the sudden surge in bitcoin cash's recent performance as an anomaly when compared to the broader market, suggesting the price rise must be a result of hype surrounding the fork.

"With current price action of BCH, it's 100 percent related to the fork and support from exchanges. No other major cryptocurrency is seeing a notable price change."

A trader going by the handle "Crypto Rand" did suspect bitcoin cash was due for a big move anyway, although the fork news likely was the catalyst.

Since many notable cryptocurrency exchanges announced support for the fork, a few have even launched futures contract-like trading for future blockchains that could be created as a result of the split, which essentially act as placeholders until the fork is complete.

Earlier today the gap between the two prices was much narrower, indicating favor towards a particular fork is not as one-sided as many first thought.

It's an innovative way to gauge support for the fork, but a poll conducted by CoinDesk suggested the interest among causal traders was minimal.

A prominent crypto analyst, also conducted a poll asking his audiences' opinion on the upcoming fork.