When Bitcoin cash sprung out of Bitcoin, its upward trajectory was something undeniable, and the coin just made that as soon as it hit the market. To be the sidekick to the most significant digital currency in the cryptocurrency world had its expectations and failing was sure not one of them.
For the most part of its early days, the coin followed in the good footsteps of its ‘godcoin,’ breaking barriers as usual. The digital currency recorded its lowest number of daily transactions in November last year and only recorded that feat again in June this year. This time around, it didn’t take much time for the coin to strike back, hitting another low in August and yet just a few days in September.
The coin at the early stages of this year was among the top performing coins. In March, BHC recorded its month low of $1,456 but picked itself up during the last week, rising to $1,670 and was expected to cross the round figure mark of $1,700, a feat which many experts believed would have sent the coin over the moon.
The past few months haven’t been very smooth for the crypto market. With market volatility at its peak, all the major coins have been taking hits after hits but BCH’s performance for the last few weeks has made it the biggest loser.
On September 28, most of the big coins saw green and were enjoying a steady rise after some bearish trends for the past couple of days. Bitcoin cash, however, was continuing its journey into the bottom, taking a 3.24% loss against the USD and also a 0.46% fall against BTC, cementing its position as the worst loser amongst the big coins.
On September 28 Bitcoin Cash was trading at $538.49 with a 24-hour market volume of $989.529 million. Majority of its trade volume was however taken by BitForex, bagging a 22.72% which amounted to $438.985 million.
BCH on that same day, according to familiar trends over the years, was expected to get a boost, as news broke that it was going to be on the Gemini exchange platform very soon.
This event took a negative toll on the coin instead of positively influencing its price. The extreme market volatility is expected to continue these comings days, however, regardless of recent events, the next trading sessions will be very crucial and will determine if Bitcoin Cash will again pick itself up and start performing again.
