With BTC Segwit2x upgrade called off - is BCH going to recover?

But on Friday, Coinbase, one of the world's largest cryptocurrency exchanges, said there is still a possibility of a fork. David Farmer, director of communications at Coinbase, said on a blog post that a "small number of miners may attempt to go forward with a fork." A miner is a key part of the bitcoin network. It is a person who runs a "node", or a high-powered computer that is able to solve the complex mathematical equitation required to verify bitcoin transactions. If a large number of miners upgrade the software on their nodes, it could cause a fork. Farmer warned that this small number of miners still supporting the Segwit2x proposal could cause a fork. If a fork happens, holders of bitcoin will receive the newly-created cryptocurrency called "bitcoin2x" for free, essentially giving them free money. That is why bitcoin rallied Friday. Coinbase said that it will disable the function of sending and receiving bitcoin at 2 a.m. PT on Friday on its platform, and halt buying and selling an hour before the fork, which is forecast between 6 a.m. and 8 a.m. PT. All functionality will be re-enabled shortly after, Farmer said. The Coinbase communications executive said that there are two scenarios that could occur. The first is that the new bitcoin2x network is unusable because there is not enough support, in which case Coinbase will not facilitate trading or withdrawals because "it will not be possible to move these assets." Farmer said that this is the most likely outcome. The second scenario is that the bitcoin2x network is usable because miner support is strong. Bitcoin has had a rocky year but the price has continued to rise and is up around 700 percent. But many critics have thrown cold water on the rise of the cryptocurrency, with JPMorgan Chase CEO Jamie Dimon calling it a "fraud". Regulators in some countries have also cracked down on bitcoin trading, with China banning bitcoin exchanges.