Bitcoin Cash Price: BCH Still Dropping Weeks After Hostile Hard Fork. Monday, December 3rd
Bitcoin Cash BCH Still Dropping Weeks After Hostile Hard Fork
It has been over 2 weeks since Bitcoin Cash underwent a hard fork, one that led to one of the worst sell-offs of the year, and unfortunately, the effects are still being felt. For Bitcoin Cash, the event not only led to the birth of Bitcoin SV, but it also saw Bitcoin Cash drop in valuation and hit a new year low.
With speculation that the hard fork was the primary reason that the market saw a dramatic turn for the worse, Bitcoin Cash became one of the worst losers since. The two weeks have also not only seen the coin drop in price but also in ranking.
During the drop, Bitcoin Cash BCH was overtaken by Stellar XLM and is now ranked fifth by market capitalization.
BCH(BCHABC)/USD Price Chart, Monday December 3rd:
Today- Dec 03, has seen a flesh beating from the bears. Major coins have again slipped, dropping below their short-term support positions. Bitcoin, the crypto leader is at the time of press below $4,000, marking a 7% drop. Ethereum is again below the $110 mark and Ripple is fighting hard to stay above $0.35. The slip up has seen the market again drop below $130 billion in market capitalization. Although the market began the month fairly impressively, it seems the road won’t be as smooth as the bulls might like.
Bitcoin Cash is back below $160 an unthinkable position for a coin that was trading for over $4,000 towards the end of last year. It is also less than half of what it was valued at the beginning of November. Today’s drop marks a 7% drop in the last 24 hours.
For the past two weeks, Bitcoin Cash BCH has been unable to break the $180 resistance level. This is one of the more crucial key levels for the coin with trades below it causing panic with holders. At the time of press, there is almost no reason why holders shouldn’t panic.
Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither jury.online nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from jury.online. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only.
You may also like
XRP Leads Market Recovery, Surges By 11% And Leaves Ethereum ETH In The Wind
Can EOS Stay Up And Maintain The Fourth Position Ranking?
Dogecoin Drops Below Range, Is It Still Worth Holding In 2019?
Stellar XLM Drops By 10% Recording New Year Low As The Market Wipes Out Over $6 Billion
IOTA’s Slowdown Sees It Slip Behind In Ranking
XRP Market Cap Could Be Overvalued By $6 Billion
You need to login to create comments.