Bitcoin Cash Price Onslaught Pushes Market Cap Below XLM’s

Negative Bitcoin Cash Price Onslaught Pushes Market Cap Below XLM’s

There is nothing to be excited about in the world of cryptocurrency at this stage. Considering how all markets remain in the red, it is more than evident there will be no immediate relief. The biggest loser to date is Bitcoin Cash, as its value has lost 44% in the past 24 hours. That is quite spectacular, although it seems multiple factors are at play in this regard.

Bitcoin Cash price Decline Gets Brutal

Most people expected some price turmoil when the Bitcoin Cash protocol upgrade of November 15th was first announced. Every single time a cryptocurrency sees a bit of an uptrend, there will be some price volatility. This particular incident proved extremely interesting, primarily because a forked currency was created in the process. Known as BCHSV, it follows the vision Craig Wright and nChain have when it comes to Bitcoin Cash.

Unfortunately for BCH holders, the past 24 hours have not been overly positive by any means. There is a very steep price decline in both USD and BTC value. Losing 44% in USD value is troublesome, but losing 33.5% in BTC value is perhaps even more worrisome. As such, the value per BCH has dropped to just under $205, although it could go well below $200 in a few hours from now.

Several reasons influence this particular trend. First of all, all cryptocurrency markets have seen a massive retrace, which is only to be expected when the value per BTC takes a massive beating. As such, the BCH/BTC discrepancy can be explained, at least partially. Secondly, there is also the action by exchanges to Bitcoin Cash price label the ABC chain as Bitcoin Cash again.

Considering how ABC was trading well below the actual BCH value before the network upgrade, it is only normal further losses would be sustained in this regard. This ongoing Bitcoin Cash price decline has also triggered a shake-up in the market cap rankings. Stellar has, for the first time, overtaken BCH in terms of overall market cap.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Although the gap between the two is just $200m, it seems XRLm may continue to further push ahead of BCH in this department. This is an interesting side effect of how these markets evolve when the going gets tough. For the time being, it seems XLM will remain ahead of BCH, depending on how the markets evolve in the coming hours.

Bitcoin Cash cheapest on Bittrex BTC-market: $196.18 0.04435191BTC$BCHUSD $bch #bitcoincash $BCHBTC pic.twitter.com/i1advsCpAj

- BitcoinCash manager (@BCashManager) November 20, 2018

As one would come to expect, there is still a big price gap in between the different exchanges. More specifically, one BCH is cheaper on Bittrex compared to a few other market. For those who want to buy the dip in the hopes of a major market rebound, today may be a good time to do so regardless. Although a recovery seems rather unlikely right now, there is a good chance things will look different in a few days from today. As such, Bitcoin Cash will undoubtedly be of great interest for many different reasons.

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

11/20/2018 / 09:28:21 Source: themerkle

News | Price Analysis | altcoin | bch | Bitcoin Cash Price | | BTC|Market|Trading|Altcoin
BTC
1 BTC=$3,457.18
XRP
1 XRP=$0.3091
ETH
1 ETH=$91.53
XUC
1 XUC=$2.19
EOS
1 EOS=$2.19
BCH
1 BCH=$86.57

News Feed 50

Themerkle Neutral - Crypto Price Watch: Litecoin (LTC), Revain (R) and Factom (FCT) Surge in the Top-50 as Other Altcoins Continue to Struggle read more.
12/17/2018 / 12:59:12
Bitcoin.Com Neutral - The Daily: Yellow Vest Coin Created, Security Token Trading Platform Launched read more.
12/17/2018 / 12:55:50
Blokt Neutral - Ethereum [ETH]: After Breaking Support, Are We Approaching a Bottom? read more.
12/17/2018 / 12:49:29
Themerkle Neutral - DOGE/USD Uptrend Shows Dogecoin Remains Bullish read more.
12/17/2018 / 12:48:05
Coinspeaker Neutral - Hong Kong Stock Exchange Ruins Bitmain’s Plans for an IPO read more.
12/17/2018 / 12:47:22
Newsbtc Negative - Crypto Analyst: Ethereum (ETH) Investment Thesis is “Questionable” read more.
12/17/2018 / 12:45:20
Cointelegraph Neutral - Egypt’s Central Bank Conducting ‘Feasibility Studies’ Around Digital Currency Issuance read more.
12/17/2018 / 12:35:00
Coinspeaker Neutral - DDEX to Fork the 0x Protocol Eliminating ZRX read more.
12/17/2018 / 12:31:12
Cryptoglobe Neutral - #EOS Price Analysis – December 17 read more.
12/17/2018 / 12:30:00
Cointelegraph Neutral - Iran: Science and Tech Department Official Says Blockchain Can Improve National Economy read more.
12/17/2018 / 12:23:00
Ccn Neutral - Hong Kong Bitcoin Millionaire Arrested after Throwing Cash off Apartment Building read more.
12/17/2018 / 12:12:24
Coindesk Neutral - When the Tide Goes Out: Big Questions for Crypto in 2019 read more.
12/17/2018 / 12:00:33
Cryptoglobe Neutral - Who Controls Bitcoin Core: Casa CTO Jameson Lopp Explains read more.
12/17/2018 / 11:58:55
Themerkle Neutral - Bitcoin Declared Dead – For the 334th Time read more.
12/17/2018 / 11:48:02
Coinspeaker Neutral - 7th Day of Christmas at Coinbase: Everything One Needs to Know about USDC read more.
12/17/2018 / 11:33:34
Coindesk Neutral - A Year Ago Today Bitcoin’s Price Was at a Record $20k read more.
12/17/2018 / 11:20:09
Ccn Neutral - Bear Market Forces Ethereum Startup “Status” to Trim 25% of Its Employees read more.
12/17/2018 / 11:09:16
Ccn Neutral - Japanese Regulators Publish New Cryptocurrency Regulation Draft y Regulation Draft read more.
12/17/2018 / 11:06:23
Livebitcoinnews Neutral - A Decentralized Exchange Leaves 0x; ZRX Co-Founder Responds read more.
12/17/2018 / 11:00:11
Bitcoin.Com Neutral - Hit by Sanctions, Iranian Students in the UK Use Bitcoin to Bypass Banks read more.
12/17/2018 / 10:55:51
Cryptoglobe Neutral - #XRP Price Analysis – December 17 read more.
12/17/2018 / 10:45:00
Livebitcoinnews Neutral - Blame Regulation or Speculator Sell-Off… But the Crypto Community is Responsible for the Most Recent Price Drop read more.
12/17/2018 / 10:30:25
Coinnounce Neutral - Hong Kong tightening Bitcoin laws amidst the cryptocurrency market crash read more.
12/17/2018 / 10:24:20
Coinspeaker Neutral - Facebook Levies an Army of Blockchain Devs: New Crypto Economy on the Way? read more.
12/17/2018 / 10:23:41
Themerkle Neutral - Crypto Arbitrage Today: XMR, ZEC, Dash, TRX, EOS, DOGE read more.
12/17/2018 / 10:18:51
Cryptonewsreview Neutral - The cryptocurrency that’s overtaken Bitcoin as the main target of crypto jackers read more.
12/17/2018 / 10:17:17
Coinspeaker Neutral - #Bitcoin Price Analysis: BTC/USD Trends of December 17–23, 2018 read more.
12/17/2018 / 10:16:50
Coinspeaker Neutral - First Time Ever Ethereum Price Surpasses Bitcoin Cash read more.
12/17/2018 / 10:15:36
Cryptoglobe Neutral - CGCX.io to offer World’s First Blockchain-Based Investment Bank in Partnership with Archipelago Group and IBH Capital read more.
12/17/2018 / 10:15:00
Coindesk Neutral - This Brazilian Bank Is Using Ethereum to Issue a Stablecoin read more.
12/17/2018 / 10:00:49
Livebitcoinnews Neutral - #Ripple Price Analysis: XRP Near Crucial Juncture, Can Buyers Make It? read more.
12/17/2018 / 10:00:41
Newsbtc Neutral - Ethereum Hits Address Milestone But Activity and dApp Usage Down read more.
12/17/2018 / 10:00:35
Bitcoinist Neutral - Bitcoin Price Now Hinges On 50-Month Moving Average read more.
12/17/2018 / 10:00:35
Coinspeaker Neutral - Bitcoin Community Celebrates the Appointment of the New Pro-Crypto White House Chief read more.
12/17/2018 / 09:56:45
Themerkle Positive - Litecoin Price Remains Bullish After Hitting $27.5 read more.
12/17/2018 / 09:53:33
Cryptoglobe Neutral - Crypto Roundup - Facebook working on Blockchain & Crypto to fund the Mexico Wall read more.
12/17/2018 / 09:41:30
Ccn Neutral - Kaspersky Lab Says Cryptojacking Cases Have Risen 400% in 2018 read more.
12/17/2018 / 09:16:16
Cryptonewsreview Neutral - Republican Congressman suggests ‘Wall Coins’ to pay for Trump border barrier read more.
12/17/2018 / 09:08:06
Cryptoglobe Neutral - #Tron (TRX) Price Analysis – December 17 read more.
12/17/2018 / 09:01:46
Coindesk Neutral - Switzerland to Regulate Blockchain Within Existing Financial Laws read more.
12/17/2018 / 09:01:11
Newsbtc Neutral - Binance Incubator Program to Foster Innovation For Blockchain and Crypto read more.
12/17/2018 / 09:00:47
Coinnounce Neutral - Bitcoin Price: How Investor Emotions Affect Crypto Prices read more.
12/17/2018 / 08:24:26
Ccn Neutral - Hong Kong Regulators Set to Tighten Cryptocurrency Laws read more.
12/17/2018 / 08:13:51
Newsbtc Neutral - Cryptocurrency Market Update: Tether Tops Stellar Taking Fourth Spot read more.
12/17/2018 / 08:00:23
Livebitcoinnews Neutral - Former Goldman Sachs Executive-Founded CoinFi Reports on the Importance of Blockchain read more.
12/17/2018 / 08:00:12
Ccn Neutral - Crypto Market Defends $100 Billion But Traders Generally Not Optimistic read more.
12/17/2018 / 07:24:23
Cryptonewsreview Neutral - Have crypto will travel: booking site adds XRP support read more.
12/17/2018 / 07:13:28
Cryptonewsreview Neutral - Report suggests 87% of the trading volumes at top 25 cryptocurrency exchanges could be fake read more.
12/17/2018 / 07:05:17
Newsbtc Neutral - Bitcoin Price Watch: BTC Hesitates, But Recovery Seems Likely read more.
12/17/2018 / 07:00:22
Bitcoin.Com Neutral - Japan Publishes Draft Report of New Cryptocurrency Regulations read more.
12/17/2018 / 06:50:57
Negative
4.3%
Neutral
94.5%
Positive
1.0%
Mixed
0.2%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.