Bitcoin Cash (BCH) is under heavy selling pressure, dropping over 7%
- BCH/USD tanks lower on Friday, dropping over 7% in the session.
- Since the hard-fork Bitcoin Cash has been hard hit, down around 90% from the start of the year.
The Bitcoin Cash price is under heavy selling pressure on Friday, down a big chunky 7% into the second part of the session. A very notable underperformance in comparison to its peers across the board, with current losses seen.
BCH/USD has been on the back foot ever since the hard-fork. Yes there is a general bear market observed, however Bitcoin Cash is suffering much greater. The firm break of the big psychological $100 mark earlier this month, has sparked further panic and dumping.
Price action was ranging from 7th December, up to the 13th. Bears have managed to force a breakout of this recent narrowing range, seeing moves to the downside exacerbated. There aren’t any signs at present of a slowdown from this selling pressure.
BCH/USD 4-hour chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
