Bitcoin Cash declined from its previous value of over 600$ per one BCH to trading at the value of around 100$, while the dips are threatening to take the price of BCH down below the resistance of 100$.
Ever since the fork took place on November 15th
,which split BCH blockchain in two, minting a brand new cryptocurrency called Bitcoin SV (BSV) on the head with Craig Wright, also known as the head of nChain and the alleged person behind the anonymous Satoshi Nakamoto.
Bitcoin Cash (BCH) Price Today – BCH / USD
Bitcoin Cash is dipping big time since the fork, while BSV is managing to keep a positive momentum even though the market is collapsing which helped the crypto get to the list of top 10 trading cryptocurrencies.
At the same time, BitcoinCash lost its long-held spot of the 4th
largest crypto, dipped to take the spot number 6 by its market cap, taken over by Stellar Lumens (XLM)and the well-known stable coin Tether.
Is Bitcoin Cash slowly leaving the top 10 list of cryptocurrencies or is there a rebound for BCH waiting around the corner?
Cash Dipping for Nearly a Month Now: BCH Easily the Top Losing Currency of the
Top Ten List
It appears that the latest hard fork has had devastating effects on Bitcoin cash as the crypto took a dip of over -50% in the course of only several days after the fork.
However, the date of the fork easily matched with the first day of a major dip that took approximately half the value of the crypto market in the course of the last 30 days, while BCH is showing -33% only for the period of the last 7 days, that way marking great losses.
At this point, Bitcoin Cash is less than 100 million dollars away from dipping to the spot number 7, which would be the case if EOS (EOS)now ranked as the 7th
top crypto would take a spike against the fiat with BCH left behind in dips.
Bitcoin SV and Litecoin (LTC) are also following as a potential threat, currently at 1.5 million and 1.4 million dollars in market capitalization.
In the course of the last 30 days since the dip started out,with the latest results on the monthly chart of Bitcoin Cash and with the last week counted in, BCH is now seen in a dip of over -80% in less than a single month.
Bitcoin Cash Might Be Leaving the Top Ten List by 2019
Previously trading at the price of over 3,400$, which was at the same time the record price of BCH as recorded back in December 2017, BCH is now really close to going below 100$, which is considered to be the current point of resistance for BCH.
Coin Market Cap is recording 103$ per one BCH unit, however, another service, Coin Gecko, is showing that BCH went down by -6% in a day to touch the value of 97$.
Based on the present performance of Bitcoin Cash, BCH is considered to be away from any serious rebounds by the end of 2018, especially if the crypto goes below 100$.