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In the last 24 hours, the valuation of the digital goods market has increased by $ 5 billion, which shows a partial recovery from the former $ 106 billion to the current $ 111 billion. It seems that Ethereum (ETH) and Bitcoin Cash (BCH), despite this market recovery, continue to trade in red and lose value every day. According to the recent rankings reports, both digital tokens have recorded a 3% decline in value against the dollar.
As of December 9, the price of Ethereum fell 3% from $ 97 to $ 93. This means that it failed to sustain the slightest momentum that it picked up due to an unexpected resumption of the token experienced Saturday. Ether has lost about 6% "against the dollar from $ 100 to $ 93 from its daily peak, while the counterpart Bitcoin Cash (BCH) has shown a decline in the price movement in the short term. half of its total value in just two weeks Starting November 6th, the price of Bitcoin Cash (BCH) decreased 50% from $ 200 to $ 100 against the dollar.
Price Ethereum (ETH) today – ETH / USD
Why did not the change in the market help the case of these two tokens?
The gap between XRP and Ether is now further expanded. XRP recently passed Ethereum (ETH) as the second most valuable digital asset in the global market. Now the valuation of XRP has risen to $ 3 billion in just three weeks. Although the technical indicators show oversold conditions, however, the sheer intensity on the decline in prices of the two digital currencies has made it difficult for these businesses to recover or maintain a low price position.
There is the possibility that, as investors in the encrypted space resort to the fundamentals, virtual currencies that have struggled to see a significant increase in accessibility, adoption and usability have been more difficult than Bitcoin ( BTC).
The offer of Ethereum for the creation of more efficient software has failed
For example, Ethereum (ETH), considering the case of ConsenSys, probably the biggest blockchain software startup in the world, has achieved a certain measure of success when it comes to creating a more efficient infrastructure for the industry. implementation of dApps to some extent, but also struggled to see the same level of progress in the Sharding, Plasma and Casper projects.
Even the Ethereum ERC20 tokens failed to impress. These products have shown no sign that they can be managed by occasional and mainstream users. Seeing the lack of implementation of dApps with a decentralized system, Ether co-founder Joseph Lubin, who is also the founder of ConsenSys, said that the company will move forward and begin to focus on developing products that can be used by customers in the ecosystem.
As regards Bitcoin Cash (BCH), a limited number of commercial adoptions have been launched. These problems did not help these tokens.
Bitcoin (BTC) is probably going to survive better in a bear market
With major large financial institutions, including Nasdaq, NYSE, ICE and Fidelity Investments seeking first and foremost to build a Bitcoin-based infrastructure, the dominant digital asset is expected to continue to outperform both key assets virtual that the smaller electronic currencies in the bear market. So, it is safe to say that BTC will survive any attack on the bear market.
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