Bitcoin Cash hard fork kills the bulls

BCH makes new all time low.
Biggest loser of the day with more than 20 pct fall.

Manoj B Rawal Independent Analyst

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.

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.