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For the first time in history, the price of Bitcoin Cash (BCH) has fallen below Ethereum (ETH).
According to Coinmarketcap, the price of Ethreum is $ 86.27 and Bitcoin Cash around $ 2.5 less at $ 83.73. The circulating supply of ETH (103.7 Million), however, is almost 6 times more than that of BCH (17.5 Million).
Both Ethereum and Bitcoin Cash have lost their long standing position in market capitalization. The second position is XRP and Bitcoin. Billion whereas Bitcoin Cash at the market at $ 1.46 Billion.
Image Source: Coinmarketcap
Ethereum being the lead, the smart contract platform has lost 94% of its value from an all-time high price. BCH which has lost 98% of its value since the all-time high. To 95% of its value, it has to first drop 95% and then again drop 60% in value.
The Death Spiral Fork
Ever since the hardfork in November BCH has gone on a death spiral losing over 81% of its value since. Bitcoin Cash is the sum of BCH and BSV, but just like it does not make sense to consider the forks of Bitcoin when calculating its price, the price of BCH will be independent of BSV as it is a separate Cryptocurrency now.
Bitcoin SV is now the 9th largest Cryptocurrency with a market cap of $ 1.3 Billion. Earlier this month BSV even briefly surpassed BCH to occupy the 5th position on Coinmarketcap.
Although BCH has lost a lot of value, the holders of BCH have received the forked tokens, they would not have lost that much token as BSV tokens. BSV tokens.
Also Read:
Bitcoin is currently undervalued, it should be $ 14,800 according to analyst Tom Lee
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