- Bitcoin Cash and Bitcoin SV trade fight sees both record yearly lows.
- Bitcoin is motionless above the new lows.
Both Bitcoin Cash (BCH) and Bitcoin (BSV) embarked on a value trimming exercise over the last weekend. The assets slashed significant portions off their values to explore new lows. These two communities are literally dragging themselves to the bottom in what is referred to as a trade war.
It is just a month since the two chains split from the original Bitcoin Cash chain to form Bitcoin Cash (BCH) led by Bitcoin ABC and Bitcoin SV led by Craig Wright. In the wake of the hard fork split, the two communities engaged in what was called a ‘hash war’ where they tried to prove which is the most powerful network.
At the moment, the two assets are caught up in a war that appears to be used to drag each other value to the ground. This war has seen both of them plummet to new lows; Bitcoin Cash recorded lows around $73.35. Bitcoin SV, on the other hand plunged only to find balance at $64.52. Litecoin (LTC) dethroned BCH to sit in the 7th position. Bitcoin SV is currently a position below Bitcoin Cash (BCH).
“The flappening! @SatoshiLite Congrats on this. Seriously. $LTC $BCH $BSV,” WhalePanda said in a tweet.
Bitcoin SV recovered from the lows amid the general market recovery. It is valued at $76.51 after a 2.34% gain in the last 24 hours. The asset market cap stands at $1.3 billion and has a 24-hour trading volume of $89 million.
Bitcoin Cash is motionless and unable to stage a recovery like the other assets in the market. It is trading at 82.97 following a 1.35% rise in the last 24 hours. It has a market cap of $1.4 billion and an exchange trading volume of $68 million.
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