The latest hard fork of Bitcoin Cash that took place on November 15th is definitely taking a toll on BCH.
Even though Bitcoin Cash was able to start this month out strongly with gaining over 50% in the course of only several days, BCH soon started to decline as the hard fork date got closer.
The peak of the dipping session that completely threw BCH out of the course took place only an hour after the hard fork took place, resulting in major declines that went over -17% in the course of hours.
That way, Bitcoin Cash dipped below 500$, and even touched 400$, while it is now seen under the initial of 400$, losing -28% of its value on a weekly basis.
Will the dips continue for BCH?
Bitcoin Cash Price: Will the Post-Fork Dips Continue?
Crypto investors, in general, are not feeling in favor of the market trends in particular as the market is sliding down at an increased rate, causing drops and with it the panic in the market.
Many of the cryptos have touched their new lows in the last couple of days, having Bitcoin going to the value of 5,500$ and Ethereum losing the spot of the second-largest currency in the market.
Bitcoin Cash, however, might be one of the top cryptocurrencies that are definitely losing on its overall value at an accelerated rate.
At this pace of declining, BCH went from the price of 620$ as recorded at the beginning of the month, around the end of the first week of November, to trading at the value of 388$ only less than two weeks later.
Bitcoin Cash (BCH) Price Today – BCH / USD
It seems that the dispute between the core teams of BCH is definitely not working in the favor of BCH in the market.
This is the case because BCH is slowly being deserted due to taking parts that involve choosing between the newly forked chains, Bitcoin ABC and Bitcoin Satoshi Vision (SV).
As a result Bitcoin Cash is seen heavily declining against the fiat, which means even going below the price of 400$.
What is Happening with Bitcoin Cash Now?
After the fork, everything is slowly changing for Bitcoin Cash, although BCH is still taking the place of the fourth largest currency.
Many supporting exchanges that have pledged to support the fork placed a pause on all Bitcoin Cash operations and even Coin Market Cap is displaying a warning for all Bitcoin Cash holders and investors.
Across multiple exchanges, all operations, withdrawals, and deposits in Bitcoin Cash are being frozen and stopped.
This will be the case until the consensus on the hard fork is reached. Once that happens, operations will likewise resume.
At the moment, Bitcoin is heavily dropping on weekly charts, also going down by nearly -4% in the last 24 hours, also marking a new low.
The last time that BCH went below the initial value of 400$ was back in October 2017, which was before the crypto made it to its all-time high of over 4,000$ only two months later.