Cryptocurrency
Bitcoin Cash On Downward Motion Since Breaching $105 Level – Here’s Why | Headlines | News | CoinMarketCap
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There has been significant sideways fluctuation in the price of bitcoin recently, and it is currently trading in the $16,541 area. However, Bitcoin Cash, a spinoff of BTC, has seen its value drop after passing through the $105 threshold.
BCH may need BTC for a rally, as there is a strong market correlation between the two.
At the time of writing, the token was trading at $102.21, which is far lower than the $126 price range that swiftly rejected any potential bull run. The current market environment is further adding to the unfavorable mood towards BCH.
Image: TradingView
What Bitcoin Cash Metrics Show
BCH’s price has been steadily decreasing since it was rejected at $165 earlier this year. However, as was previously mentioned, BCH is highly correlated with BTC, which is …
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