Bitcoin Cash (BCH) Price Hits a Snag with 14 Percent Drop, Cedes Ground to Litecoin (LTC)


Bitcoin Cash (BCH) Price Hits a Snag with 14 Percent Drop, Cedes Ground to Litecoin (LTC)
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Bitcoin Cash price has dropped by more than 14 percent over the last 24 hours as the result of a significant market correction. According to CoinMarketCap (CMC) data, the price of the infamous Bitcoin fork is currently sitting at $279.24.

CoinMarketCap Top 10

CoinMarketCap: BCH has plunged 14 percent

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A major pullback

As reported by U.Today, BCH was the biggest winner of the recent short-lasting rally with a 54 percent price jump, which allowed it to surpass Litecoin (LTC) by market capitalization. With a 100 percent spike since Monday, Roger Verโ€™s favorite coin left Bitcoin and every altcoin behind when it comes to overall gains.

However, during an inevitable market correction, BCH is getting hit the hardest โ€“ as mentioned above, its price has already declined 14 percent. Thus, it becomes the world-performing currency inside the top 10.

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Other alts are bleeding too

Cardano, Litecoin, and Ethereum also recorded double-digit price drops over the last 24 hours. Notably, Ethereum isnโ€™t even able to keep up its momentum after a major announcement about the release of new SEC guidelines that once again clarify that ETH is not a security. As of now, ETH is bearish with its price falling to $156.18 due to the fact that it cannot resists a strong selling pressure.
 

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