Bitcoin prices are also likely to become more volatile, according to Dominic Williams, president at blockchain computing firm DFINITY. He believes that the new strand, Bitcoin Cash, is likely to trade at around 10 percent of the price of bitcoin.
“That may not impact the bitcoin market (capitalization) very much, but if it looks like Bitcoin Cash is gaining momentum and people want it, we could see some major volatility and swings between the two versions of the currency,” he added.
On Monday, future values for the new cryptocurrency were listed at $292.42 on website Coin Market Cap. Bitcoin was trading at $2,837.91, close to its all-time high.
Should the split go through, all direct owners of bitcoin will hold both versions of the currency.
The value of Bitcoin Cash will depend on several factors, according to Garrick Hileman, research fellow at the Cambridge Centre for Alternative Finance.
“The price level will depend on an interplay between how much mining support Bitcoin Cash attracts, which platforms support Bitcoin Cash, how much selling pressure and buying support we see, and other factors,” he told CNBC via email. Mining is the process of creating new bitcoins and verifying bitcoin transactions.