Bitcoin dipped back below $5,500 Wednesday, another tremor in cryptocurrency markets in the wake of yet another BTC fork.
Barely two months have passed since the largest cryptocurrency platform bifurcated into the still-standard BTC and competing BCC (BitCoin Cash) currency. Now Bitcoin Gold, the second fork of the Bitcoin network, has followed in the footsteps of BCC; with BTC suffering a new of low $5,479, cryptocurrency analysts continue to question the future of the best-known digital currency alternative.
BTC's repeated forks have not solely affected the bitcoin network. Up-and-coming coin alternative Ethereum (ETH), already haggard after an encouraging recovery from a record 30-day low earlier this week, suffered yet another drop under the $300 mark in the wake of the fork. With the multi-billion dollar plunge across crypto markets reported Wednesday, speculators and miners alike are left to question the value of fully allocated investment into particular currencies.
Regardless of the investment value of crypto market currencies, the economic upheavals still do little to affect what many users of cryptocurrencies consider the intrinsic value of the coin: the ability to provide payment processing services with far less scrutiny than common fiat platforms. However, with the seemingly endless variety of coins mined, a small minority of which are supported by mainstream exchanges like Coinbase, high-risk businesses processing large batches of payments have little to go on in investing their financial platforms in crypto markets.
New payment platforms like High Risk Holdings are attempting to fill the gap left by volatile cryptocurrencies and notoriously selective traditional payment processors. High Risk Holdings, for example, accommodates merchants engaged in legal, high-risk business dealings that are often neglected by mainstream processors. Unlike cryptocurrencies, however, HRH accepts traditional payment formats like credit/debit/ACH, while offering many of the same technologies used by mainstream fiat processors. Web integration, chargeback solutions, and fraud protection, for example, are welcome safeguards for high-risk merchants in need of stable, dependable payment platforms.
More on HRH's offerings can be found here.