Bitcoin Cash Price Struggles Intensify Further
Although Bitcoin Cash successfully celebrated its first birthday this year, things have never looked the same ever since. This altcoin is just another victim of the ongoing bear market, although its losses continue to pile up without improvement in sight. The most recent network protocol upgrade didn’t help matters much either, as the value per BCH keeps drifting lower. After losing support at $200, $175 and $150, it now seems $125 will be the next hurdle.
In the past 24 hours, the Bitcoin Cash price lost another 10% in both USD and BTC value alike. That is never a positive sign by any means, yet it also goes to show this currency is currently struggling far more than others. Bitcoin is already regaining some lost value, and the top altcoins are following. BCH is for some reason not doing that, and risks being overtaken by Bitcoin SV in the coming weeks.
There is still some positive momentum regarding Bitcoin Cash, although it is not necessarily the news people are actively looking for. More specifically, the tweet below shows another artist is accepting Bitcoin Cash donations, although it remains to be seen how long this situation will remain in place. These small use cases show there is some merit to BCH, but it is not necessarily checking the right boxes right now.
A guitarist we met after the meetup in Ebisu Yokocho is now accepting tips in #BitcoinCash from tonight thanks to the enthusiastic meetup members