This Is Bitcoin Cash's Day: GDAX Launches BCH Trading, Price Skyrockets And Freezes At $9,500

12/20/2017 - 00:58 UTC
This Is Bitcoin Cash's Day: GDAX Starts BCH Trading, Price Skyrockets

December 19 can be really one of the most fortunate days for Bitcoin Cash project as one of the world's largest cryptoexchanges, GDAX, started listing and trading BCH.

UPDATE DEC 20: BCH Trading in GDAX And Coinbase Is Halted - Price Remains Stuck at $9,500 for hours while insider trading and price manipulation allegations are floating

UPDATE DEC 20: GDAX will resume BCH-USD trading today

This is the email GDAX (Coinbase) sent to each of its million customers:

Dear GDAX Customer,

We’re happy to announce that Bitcoin Cash (BCH) is now listed and available for trading on GDAX. We made this decision by considering such factors as customer interest, developer support, network security, market capitalization, trading volume, and our Digital Asset Framework. You can read more about Bitcoin Cash on our FAQ page.

The following order books have been created and will remain in post-only mode until there is sufficient liquidity for trading:




Bitcoin Cash was created by a fork of the Bitcoin network on August 1st, 2017. All customers who held a bitcoin (BTC) balance on GDAX at the time of the fork have been credited an equal balance of Bitcoin Cash (BCH) in their GDAX account. Your BCH balance will reflect your BTC balance at the time of the Bitcoin Cash fork, which occurred on August 1, 2017 at 13:20 UTC (block #478559). You can read more about what a bitcoin fork is here and our previous update on Bitcoin Cash here.

Thank you,

The GDAX Team


At the same day, Bitmain announced it will only accept BCH for the new Antminer S9 batch  and Thomson Reuters added Bitcoin Cash to its Eikon flagship platform. Earlier, BitPay had announced support for BCH.

As a result of this series of good news, the price of BCH increased sharply on December 19. It surpassed $2,000, then $2,500 and reached $2,900 showing signs of slowing down a bit. But then, the news about GDAX support broke and the price is now on a seemingly unstoppable rally. At the moment of writing, BCH is traded above $3,300 according to coinmarketcap.

Bitcoin Cash day on GDAX
Bitcoin Cash explodes as trading in GDAX starts


But that price does not reflect what is happening right now at GDAX. The platform shows the usual sign of "Degraded service" but BCH-BTC and BCH-USD trading is seemingly flowing as hell.

As we penned this article, the price jumped at 5,900 dollars. See a screenshot:

BCH on GDAX  first day


And it is now stuck at 9,500 dollars, as BCH trading has apparently halted.



Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.