As the three year anniversary of Bitcoin Cash’s infamous hard fork approaches, it has now lost 93.98% of its value with a market cap of $4.8 billion.
From a technical perspective, $204 continues to be the key level of support for with price being propped up on numerous occasions dating back to September, 2019.
To the upside, meanwhile, the key hurdle for Bitcoin Cash is at $282 as this has been a point of rejection on three occasions since late October.
If Bitcoin Cash can can begin to establish a period of bullish momentum and take out $282, it will likely follow the trend of the wider cryptocurrency market and test the $329 level of resistance.
However, what often happens to altcoins when Bitcoin begins a bullish charge to the upside is that they suffer a sell-off, which seems to be the most likely short-term destiny for Bitcoin Cash.
Bitcoin Cash head honcho Roger continues to be his vocal self about the functionality of recently, posting about how the Bitcoin fork is being accepted at a merchant in Antigua.
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About Bitcoin Cash
Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017.
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