BCH price loses 12 percent to hit its new low at 190 USD

BCH price loses 12 percent to hit its new low at 190 USD
Nov 24, 2018 by Rico Wise

Before the hash wars of BCH against BSV, the value of Bitcoin Cash decreased only to the level of 450 USD.

However, within the next few days subsequent to the hard fork event, the price went on declining further to the low 200 USD levels, eventually losing the 200 USD support level in the past day.

In the course of two days, Bitcoin Cash lost over 25%, arousing concern among the financiers regarding the short-term tendencies of the digital currency.

The hash wars ended with an indisputable victory for BCH. Dominant cryptoexchanges such as Kraken and Coinbase attributed the BCH moniker to Bitcoin Cash, officially displaying their recognition for ABC’s version of Bitcoin Cash as the real one.

Coinbase named numerous reasons in favor of supporting its decision to choose ABC to stay the Bitcoin Cash with its BCH moniker, one of the main reasons being the huge difference in the hash power between ABC and SV versions.

Obtaining victory and recognition from cryptoexchanges, Bitcoin Cash was anticipated to make a recovery, probably returning to its preceding support levels at 250 and 300 USD. However, the currency kept on falling in the last few days, eventually hitting a new record low at 190 USD.

Bitcoin’s weakness in the short-term and lack of momentum brought most of the digital currencies in the global cryptomarket down substantially, as displayed by the dynamics of ETH and XRP currencies.

Still, the steep decrease In BCH value proposes that financiers have uncertainty connected with the growth trend of Bitcoin Cash, with BSV representatives continuously issuing threats addressed at both ABC and members of the BCH community.