Bitcoin Cash Drops In Price

Page Summary

Bitcoin Cash Faces a Drop in Price

Bitcoin Cash has lost some of its value recently. If you are not familiar with it, Bitcoin Cash is the most well-known Bitcoin hard fork. To explain the term further, a hard fork is a change from the previous version of the blockchain. The new system no longer accepts nodes running the earlier version of the blockchain, splitting it in two directions: one version, following the new rules and the other that remains the same.

The cryptocurrency market price fell from 1,167.5 on Sunday to a $991,46 at 13:43 CEST time, today. Even though the whole of the crypto market is moving down, Bitcoin cash experienced even steeper drop than most currencies.

Controversy Surrounding BCH

The Bitcoin hard fork is one of the most controversial in the crypto community since it’s supporters insist on calling it the real bitcoin. That often confuses new investors and angers the more experienced ones. All that commotion leads to a larger fluctuation in price.

Koyen, the CEO of 360 Blockchain USA expressed those circumstances as the main reason behind the larger price drop.

Despite the drop, most of the more experienced commentators on the subject don’t see anything unusual going on right now. “The crypto-wide headwinds feel typical to me. There’s some news here, some news there — but nothing earth-shattering that I’ve noticed.” Said Jef Koyen.

“It’s all standard noise,” agreed Charles HayterChief executive officer of one of the biggest cryptocurrency data platforms, CryptoCompare.

Miners Proposal

Marshall Swatt who is the founder of Swatt Exchange highlighted another matter altogether, mentioning the recent meeting where Bitcoin Cash miners proposed offering a partial amount out of block rewards to back various activities.

His statement is as follows:

“Bitcoin cash’s miners met recently to discuss whether to reallocate some portion of mining rewards to developers. That could be a sign that BCH is struggling to gain much traction or grow its engineering and compete with all the other offerings.”

Bitcoin Cash is Still a Success Story

Even though Bitcoin Cash has its challenges, the cryptocurrency has succeeded where many other currencies have failed. Since the fork that happened in August 2017, Bitcoin Cash still resides in the top 10 cryptocurrency spot based on its market value. It is currently in the fourth spot on Coinmarketcap.


eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.


Please enter your comment!
Please enter your name here

This site is registered on as a development site.