- BCH makes new all time low.
- Biggest loser of the day with more than 20 pct fall.
Bitcoin Cash, the ambitious cryptocurrency that once aimed to be biggest cryptocurrency by market capitalisation has sunk to all time lows after the hard fork resulted in two separate coins – Bitcoin ABC and Bitcoin SV. (Read related article here)
BCH/USD is down 24 percent on day at $259.53 in a low volume trade wherein the spread in bid-ask is as high as $265 (bid at $29 and ask at $304). Any trade in such a market would only result in hightened volatility.
Any technical price prediction based on current volatility and bid ask spread, won’t make any sense as the price could deviate to a large degree.
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