*By Carlo Versano* There's a civil war underway in cryptocurrency ー and it's shaking investor confidence in the very foundation of the blockchain. Bitcoin, down 25 percent in a week and over 75 percent since its highs of a year ago, is suffering at least in part from the latest "hard fork" split of the two versions of Bitcoin Cash (BCH) into ABC and SV ー which themselves are just second-rate copies of the original Bitcoin currency, according to Merlin Rothfeld, a crypto investor and strategist with the Online Trading Academy. Rothfeld predicted the volatility in Bitcoin will be a good thing in the long term, as it "shakes out" the vulnerabilities in the relationship between crypto and blockchain. All of the things that have consistently appealed to Bitcoin investors ー the decentralization, transparency, chain of record ー are still intact, Rothfeld said. "That's very appealing to have this kind of autonomy." Some investors worry that miners are mining "empty blocks" that would modify, and thus interfere with, the older version of the blockchain of a specific currency ー and that shakes the confidence of the entire market that relies on "proof of work" algorithms to record transactions, according to Rothfeld. Once investors better understand how those vulnerabilities are being exploited, they can be patched, Rothfeld said. But until then, we should expect the volatility to continue and Bitcoin demand to wane. "I don't see it stopping anytime soon," he said. For full interview [click here](https://cheddar.com/videos/whats-next-for-the-bitcoin-slump).

Share:
More In Technology
'3M Young Scientist Challenge' Names New Winner
Middle school students from across the country battled it out for a chance at being crowned 'America's Top Scientist.' Each applicant had to submit a video to compete in the '3M Young Scientist Challenge' and describe a unique solution to an everyday problem for the chance to win $25,000. 10 finalists were chosen and after a two-day virtual competition, one walked away with the title. 14-year-old Sarah Park won the award, she joins Cheddar News to talk about her invention Spark Care+.
Bitcoin Futures ETF 'BITO' Jumps in Debut
The ProShares bitcoin futures ETF jumped nearly 5% on its first day of trading, and ultimately closed the day at nearly $42 dollars a share, a solid jump from its initial $40 dollar price. Rayne Steinberg, co-founder and CEO of Arca breaks down the success of day one and what lead to the bitcoin futures ETF having the second most successful ETF debut ever.
Google Announces Pixel 6, Pixel 6 Pro Release
Google is gearing up to release a new round of its smartphones with the Pixel 6 and Pixel 6 Pro models. The phones will be powered by the tech giant's very custom chip called Tensor.
Load More