From $4350 to $117: is bitcoin cash in the death spiral?

Bitcoin cash prices continue to hit year lows, in a recent sell-off in the BCH/ dollar exchange rate fell below $120, the highest level in history has fallen by more than 97%.

From November 7th last year to $638 since the trading price, the stock fell more than 81%. Compared with other encryption currency recently hit year lows, bitcoin cash market prices is more serious.

Investors found that the reason is that they lack the confidence of the Roger ver leadership team, after months of bitcoin cash items, the community decided to upgrade its core protocol, but a division of nChain founder Dr. Craig Wright and the online gambling industry billionaire Calvin Ayre led Ver also opposed bitcoin cash upgrade plan. They decided not to support the bifurcation, and announced the launch of their bitcoin cash chain.

11 month 15 days, bitcoin blockchain cash bifurcation produced two competing chain: VER ABC and Dr Wright bitcoin bitcoin SV. The two men launched a so-called “hash” war, to fight for the original BCH stock. In the fork, use the hash power community vote. In order to prove them, Dr Ver and Dr Wright were mining in their respective chain. In the initial stage, the two sides are facing a $500 thousand power consumption. As of November 21st, bitcoin SV suffered a loss of $2 million 200 thousand. The whole event has great influence on the encryption market, especially the bitcoin, the hash right assigned to one side bitcoin ABC.

11 month 15 days, bitcoin blockchain cash bifurcation produced two competing chain: VER ABC and Dr Wright bitcoin bitcoin SV. The two men launched a so-called “hash” war, to fight for the original BCH stock. In the fork, use the hash power community vote.

In order to prove them, Dr Ver and Dr Wright were mining in their respective chain. In the initial stage, the two sides are facing a $500 thousand power consumption. As of April 21 11, bitcoin SV suffered a loss of $220 million. The whole event has great influence on the encryption market, especially the bitcoin, the hash right assigned to one side bitcoin ABC.

Although American Broadcasting Company competing in talent shows itself, SV chain to become a winner, but still can not have suffered from the market to recover. Leave the bitcoin cash investors have no interest in return, at the same time, the dominant position in the bitcoin encryption market are also on the rise. Bitcoin cash market is currently towards an abyss of a death spiral, says it will die may be a bit too much, because Ver and his team will not see their billion dollar project to ashes.

He told Bloomberg: “as an investor, I think the long-term prospects of encryption currency more than ever the light, people around the world come to realize this point, more and more people will accept this point.

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