Thursday, the price of BCH (Bitcoin Cash) fell below the vital psychological level of $1,000 and the value of single coin has dipped to $993. A chaotic weekend was followed by this during which the digital currency experienced a sharp rise to $2,477, its all-time high. Moreover, BTC (Bitcoin) also saw a temporary dip below $6,000.
With this, however, it is clear that ‘flippening’ which was forecasted by most enthusiasts, is not proceeding any sooner. A retracement was seen in Bitcoin Cash to $1,000 (its established levels) whereas BTC is still maintaining its dominance.
In fact, all records continue to be broken by Bitcoin as it easily moved beyond the $7,500 mark and is now heading towards $7,700. The major reason for this is the news of CME Group who have announced futures trading in Bitcoin.
The present fluctuations in price are because of the continuous competition amongst two coins for the position of ‘true’ Bitcoin. The supporters belonging to both the solutions are sharply divided over the differences.
The regular monitoring of the market will be continued by Cointelegraph and it will further report the price movements of Bitcoin Cash and Bitcoin.