What the Fork: Bitcoin Cash (BCH) Falls Over 30% in 2 Days
In the fallout of the fork, it looked as if Bitcoin Cash ABC was to become the clear winner, especially given the fact that a majority of the leading exchanges granted it the BCH ticker. However, it is becoming increasingly apparent that what brand value existed for the original Bitcoin Cash is quickly succumbing to the confusion caused by the fork.
Now, the losses are beginning to pile up for BCH, as the altcoin has dropped more than 30% in the last two days alone. Bitcoin Cash is now down to $75.87, giving the top-10 cryptocurrency a $1.33 billion market cap, a mere fraction of its previous highs.
Over the same 48-hour period, Bitcoin Cash SV, now Bitcoin SV (BSV), is down nearly 28% as the broader crypto market continues to decline. BSV’s market cap continues to trail BCH, now hovering at $1.15 billion.
The recent selloff has dragged BCH down nearly 83% in the last month alone, bringing the total year losses to 96.8%. BCH and BSV are currently the 7th and 9th largest cryptocurrencies, respectively.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.