Bitcoin Cash hits record lows vs. Bitcoin days before hard fork

Published on by Cointele | Published on

Altcoin traders continue to feel the pain as Bitcoin gains, with Bitcoin Cash hitting new all-time lows.

Data from Cointelegraph Markets and other sources shows that as of Nov. 10, BCH is worth less in BTC terms than ever before.

At press time, BCH/BTC traded at 0.017 BTC, comfortably beating its previous record low of 0.0245 BTC seen in December 2018.

The hard fork of Bitcoin has seen little attention this year, as investors focused on Bitcoin and then the decentralized finance phenomenon.

The announcement of another hard fork of the Bitcoin Cash network, set for Nov. 15, has done little to buoy the coin's prospects, data shows.

In USD terms, Bitcoin Cash has spent the past three months fluctuating in a corridor between $230 and $280, while Bitcoin itself has increased by a third in value.

Unsurprisingly, Bitcoin proponents took a dim view of the upcoming hard fork, something which has sparked a familiar tussle between businesses opting to support or reject the resulting new coins.

"Hopefully this election drama will clear up before the next scheduled shitcoin drama: T minus 10 days to the next bcash fracture!" CasaHODL co-founder Jameson Lopp summarized on Twitter last week as the hard fork was confirmed.

LTC/USD traded at 0.0038 BTC on Nov. 10, increasingly close to its extant bottom of 0.003 BTC from March 2017.

While some traders continue to forecast the return of "Alt season" next year, prospects remain bleak for the near term, as Bitcoin's market cap dominance has reached 64%, its highest since June..