Altcoin traders continue to feel pain when bitcoins (BTC) are collected and bitcoin cash (BCH) hits very low levels.
Data from Cointelegraph Markets and other sources show that as of November 10, Bitcoin Cash is worth less BTC than ever before.
Bitcoin Cash Falls Due to New BTC Downturn
At press time, BCH / BTC is trading at 0.017 BTC, successfully breaking the previous record of 0.0245 BTC seen in December 2018.
Bitcoin hard forks did not generate much interest this year as investors focused on Bitcoin and later on the phenomenon of decentralized finance. The data shows that another Bitcoin Cash network hard fork announcement scheduled for November 15 did little to improve the currency’s visibility.
As for the US dollar, Bitcoin Cash has been hovering between $ 230 and $ 280 over the past three months, while Bitcoin itself has risen by a third.
Unsurprisingly, bitcoin proponents are looking badly at the upcoming hard fork, which has sparked a notorious battle between companies that choose to support or reject the emerging new currencies.
“Hopefully this campaign drama clears up ahead of our next shitcoin drama: T minus 10 days before the next bcash break!” CasaHODL co-founder Jameson Loeb on Twitter last week took stock of when the hard fork was confirmed.
Litecoin experiences lowest weekly outage ever
For Litecoin (LTC), price data shows a similar story. LTC / USD traded at 0.0038 BTC on November 10, rising near the current low of 0.003 BTC since March 2017.
On the weekly chart, the pair recorded the lowest level on record this month.
A sign that both Litecoin and Bitcoin Cash have not materialized since PayPal confirmed that they will support both assets alongside Bitcoin from 2021, a popular Twitter account summed up the sentiment of those favoring BTC.
On November 5, she wrote: “We believe this is a bad business decision and a moral and ethical bankruptcy for PayPal to allow retail customers to buy BCH and LTC.”
“Many retail investors will be tricked by misleading copies, as shown below, to buy completely worthless assets. It is not right”.
Some traders continue to anticipate a return to the “alternate season” next year, although the outlook remains bleak in the short term. Meanwhile, Bitcoin’s dominance has reached 64% of market value, the highest level since June.