Bitcoin Cash price has decreased substantially for the second day in the row with BCH now trading at $350 levels down from a high of $512 in just two days.
Bitcoin Cash dumping seems to be the primary reason why the price of the new cryptocurrency is falling substantially. Hours after the split, first Bitcoin Cash balances started appearing on a few people’s accounts and as the trading game began, BCH saw a roller coaster ride of price surges from a high of $600,000 to a low of $130 and then $200+, 300+, 400+ and eventually $512.
That didn’t last long though and it has been two days since the price has been falling now and currently the new cryptocurrency is trading at $350 levels.
While the price decrease isn’t really harming anyone as it is totally free money – whatever the price of BCH may be.
Bitcoin price on the other hand has been amazingly stable through the bumpy BCH road and hovering at $2750 levels – an indication that Bitcoin has all the horsepower it needs to carry on as the torchbearer of the cryptocurrency world.
We may start seeing a boost in interest if BCH starts getting more hashrate. With the decrease in difficulty of Bitcoin Cash mining at 26%, old hardware could be put to use and this could lead to some surge in pricing.
For a cryptocurrency that was given out free, people shouldn’t really be complaining about the price decline. The fate of BCC depends on how many people get behind it. BCH is still the fourth biggest cryptocurrency by market cap, and that will continue to be the case for sometime in future.