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Friday, December 14 – Bitcoin Cash (BCH) has brought new losses on the cryptocurrency markets as investors in the top twenty assets by capitalization have undergone new lows.
Market display from Coin360
Cointelegraph's price index data, Coin360 and Coinmarketcap, painted a grim picture to the press on Friday, with Bitcoin (BTC) down 3.5% in 24 hours.
After avoiding a move below the current current "bottom" of around $ 3220 last week, BTC / USD failed to find much higher support, now reaching $ 3300 to cover almost 50% of monthly losses.
Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index
Concerns over the fate of a Bitcoin exchange fund (ETF) that received US regulatory approval in February combined uncertainty about when the 2018 bear might end up limit the higher prospects of short-term cryptocurrency gains.
Many remain faithful believers in a bitcoin inversion, the most recent of which was the rating agency Weiss, which this week said that BTC represented one of the "best buying opportunities" of the year at current prices.
In the altcoin markets, BCH continued what had become a common sight for daily traders this week, losing more against the USD than any other commodity in the top twenty.
A hashrate war with the rival faction Bitcoin SV (BSV) has continued since the pair separated from the BCH chain in a controversial bad situation on November 15th.
Since then, BSV has taken the habit of doing reverse trading at BTC, gaining when most businesses decrease and vice versa.
On Friday it revealed BCH as the biggest loser, however, eliminating the market capitalization to fall below the dollar price of Ethereum (ETH) for the first time with a daily decline of 13.3%.
Only $ 125 million now separate the market capitalization of BCH and BSV.
Chart of prices in 7 days of Bitcoin Cash. Source: Cointelegraph Bitcoin Cash Price Index
Meanwhile, ETH has failed to capitalize on updates on its Constantinople hard fork, which will bring various technological advances to the network.
At press time, ETH / USD stood at around $ 86, the lowest level since May 2017.
Ethereum 7-day price table. Source: Cointelegraph Ethereum Price Index
Other major altcoins saw losses of between 1% and 9%, BSV came second behind BCH's performance.
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