Bitcoin Cash is going through immense losses as November dips took place already in the second week of the month.
At the beginning of November, BCH was even able to collect some serious gains as the crypto was rising at an improved rate, collecting over 50% of gains in the course of a week.
However, three weeks later, we can see it down by over -50% in less than a single week, while Bitcoin Cash even touched its new low, going down to the price of 199$ per one unit at one moment.
At one point on November 20th, Bitcoin Cash was able to get a hold of some serious gains, making it one of the top rising coins on the daily basis while collecting 17% of rises in less than 24 hours.
But, Bitcoin Cash started to drop once again despite the mentioned gains, currently going down by nearly -6%.
If anything is certain at this point, that is the fact that the market is still showcasing destabilized movement.
Bitcoin Cash Post Hard Fork Trends: What is Happening to BCH?
Bitcoin Cash teams announced hard fork taking place on November 15th so many investors were expecting to see rises, which eventually arrived at the beginning of November.
However, as the disagreements between the two BCH teams, Bitcoin ABC and Bitcoin Satoshi Vision were breaking the chain in two, the price started to decline at an accelerated pace, soon driving BCH down by over -50% against the dollar.
The decline further drove BCH to reach a new low in the current year, placing it under the value of 200$ and going down to reach the price of 199$ before it got back up.
What is interesting is that BCH managed to rebound by over 17%, which was the leading set of gains among the top 20 list of cryptos, only to drop again with the mass declining market, this time going down by -6% in only several hours.
It seems that the latest hard fork alongside disagreements between the teams is truly harming BCH in the market, at one moment even driving it down to the spot of the 5th largest crypto while Stellar took over spot number 4.
Bitcoin Cash Hard Fork Brings Bitcoin SV to the scene: BCH Reflecting Bitcoin ABC Implementation
Since November 15th, the main chain of Bitcoin Cash split in two, creating new separate chains one of which is led by Bitcoin SV and the other by the first team to take over BCH original fork back in 2017, Bitcoin ABC.
Bitcoin SV now exists as a separate entity, while BCH now represents the implementation of Bitcoin ABC.
While Bitcoin ABC is said to bring many novelties to the original post hard fork BCH chain, Bitcoin SV is a newly minted crypto that is based on the first version 1.0.0 of the system in accordance with “Satoshi Vision”, getting back to the basics of what team SV thinks Bitcoin Cash should represent.
In the meanwhile, Bitcoin SV is going down by over -17% traded at the price of around 50$ and Bitcoin Cash (Bitcoin ABC implementation) is dropping by -6% at the price of 230$, still ranked as the fourth-largest crypto.
As far as the hard fork concerned, while teams must have found at least some sort of satisfaction resulting from this fork, investors are losing big time, partially due to the split and in part due to the stubborn market dip.
What Bitcoin ABC Implementation Brings to BCH?
Bitcoin ABC implementation is set to bring an improved experience to the BCH network after the fork. While the team SV brought their forked chain to the version 1.0.0 to match the original vision of Satoshi as stated by the team Bitcoin SV, ABC is said to upgrade the chain protocol to become more secure, more reliable, and faster.
At the time, BCH operations are frozen on most exchanges that are providing support for the hard fork as the transition is still in progress, and Bitcoin SV is said to have already gained support with full operations working on already several exchanges.
However, neither of the chains resulting from the recent BCH fork is having much luck with the persistent market dips stubbornly reclaiming the market.