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Bitcoin Price Crashes While Its Controversial Forks Shine

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Wed, 08/14/2019 - 07:13
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Alex Dovbnya
The proponents of Bitcoin Cash and Bitcoin SV had a field day with the two forks greatly outperforming Bitcoin
Bitcoin Price Crashes While Its Controversial Forks Shine
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Aug. 13 wasn’t exactly the best day for Bitcoin maximalists. The BTC price crashed by more than 6 percent, tumbling below the $10,500 level. In fact, Bitcoin turned out to be second the worst-performing asset inside the CoinMarketCap top 10 (only behind Monero).

Bitcoin takes a hit
Image by Coinmarketcap

Crypto trader Alex Krüger points out that the Fear & Greed index is currently at the December 2018 lows.

Meanwhile, Roger Ver’s controversial fork Bitcoin Cash rewarded its holders with a solid 5 percent price increase. Considering that these two coins usually move in tandem, that was quite an anomaly.     

Notably, Bitcoin SV, the fork of Bitcoin Cash, is also in the green with a 3 percent price spike while other top altcoins remain in the doldrums.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.