RATE Group | Market Recovers by $5B, Why Are Ethereum and Bitcoin Cash Plunging?
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Market Recovers by $5B, Why Are Ethereum and Bitcoin Cash Plunging?

09 Dec Market Recovers by $5B, Why Are Ethereum and Bitcoin Cash Plunging?

Posted at 04:08h in Bitcoin News by

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Over the last 24 hours, the crypto market has added $5 billion to its valuation, demonstrating a slight recovery from $106 billion to $111 billion. Despite the recovery of the market, Ethereum (ETH) and Bitcoin Cash (BCH) continue to fall in value, both recording a three percent drop against the U.S. dollar.

On December 9, the Ethereum price fell by around three percent from $97 to $93, failing to sustain the short-term momentum it garnered from an unforeseen recovery it experienced on Saturday. Since its daily peak, Ethereum has declined by more than six percent against the U.S. dollar, from $100 to $93.

Bitcoin Cash has also demonstrated a weakness in its short-term price trend as it lost nearly half of its value within a two-week period. Since November 6, the Bitcoin Cash price declined from $200 to $100, by exactly 50 percent.

Why is Ethereum and Bitcoin Cash Dropping So Rapidly?

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