Bitcoin Cash is definitely going through some turbulent changes i9n the past two weeks.
Starting out with the new month of November with gaining over 50% of rises over 6 days, BCH soon dipped to become the biggest loser of the top 20 list of trading currencies.
Once when the latest dip stroke the market in a matter of hours since previously announced BCH hard fork, Bitcoin Cash soon dipped to touch almost -30% of losses in its weekly chart.
Bitcoin Cash is still seen in a decline by over -6% in the last 24 hours, although the market is evidently recovering in the last hours at the time of this writing.
What happened to Bitcoin Cash after the fork took place? Is Bitcoin Cash dead?
Bitcoin Cash (BCH): Dispute-Induced Hard Fork and Stubborn Dips
Before the hard fork took place on November 15th, there were two teams taking care of Bitcoin Cash network, Bitcoin ABC and Bitcoin SV.
Since the two teams were going through heavy disagreements during the past months before the hard fork was announced, the chain is now split.
The fact that Bitcoin Cash is declining at a highly accelerated rate is contributed to the fact that some exchange markets supporting the Bitcoin Cash forks, like Poloniex for instance, are marking BCH as inactive while it is providing support for new currencies which resulted from the BCH fork.
Bitcoin Cash (BCH) Price Today – BCH / USD
Bitcoin Cash (BCH)
The two teams seem to have decided to abandon their mutual project, Bitcoin Cash, committing themselves to newly minted currencies derived from the BCH chain – Bitcoin ABC (BCHABC) and Bitcoin SV (BCHSV).
While Bitcoin ABC will stick to the original idea of Bitcoin Cash, only increasing the block size, Bitcoin SV will be drifting from the basic idea of BCH, implementing structural changes to the newly developed fork.
So it seems in a great way that Bitcoin Cash is dead in its previous form.
What Will Happen to Bitcoin Cash Now?
It seems that the fourth largest cryptocurrency, Bitcoin Cash, is about to lose its top ranking as the currency is seen in a horrific decline for the past 10 days.
The declines accelerated with the latest mass market dip, so we can now see BCH down by almost -30% in the course of a week.
Additionally, BCH is declining by over -6% in the last 24 hours despite the fact that the entire market is slowly recovering from a major dip that took place around 48 hours ago.
At this point, BCH is down to the value of 407$, threatening to drop below the value of 400$, which should at the same time be its newest low.
Only one day after the hard fork, it yet remains a mystery what will happen to Bitcoin Cash in the near future, when it comes to its original chain which seems to be abandoned the way things are looking now for BCH.
Whichever the case, BCH is already showing the signs of a decaying project with losing almost -90% since making to its all-time high also showing negative returns on all charts.