BCH Price Drops To $200, What’s Coming Next For The Altcoin?

The BCH price drops to $200 after the yesterday high above the $232 price mark on the price charts as we are reading in the latest bitcoin cash news.

The cryptocurrency started trading between the $198 and $212 marks and some analysts believe that the bears are now taking control of the entire BCH market. The BCH price drops to new levels as it was observed below the $220 price line at the start of the day. The coin increased across the $232 price mark and reached a new high of $233 after which we saw a dramatic fall for the rest of the day. As per the latest Bitcoin cash news, the cryptocurrency closed the day with a trading value of $201 while the trading stayed between the $200 and $212 levels for most of the trading period.

Other analysts suggested that a good range for the longer period of time would be $180 and $189 and as per the idea, once the market recovers, the cryptocurrency could become able to reach the $320 price range.

As per the recent latest Bitcoin cash news, Even though Japan has less than 1,000 reported cases of infection, companies, and organizers in the birthplace of cryptocurrency are starting to offer more suggestive language in announcements – mainly to curb the spread of the COVID-19 disease. The Bitcoin Cash meetups are a good way for people who work from home, reduce time on public transit and not attend large gatherings to still be able to discuss crypto.

Also, After the dominant bitcoin cash node client Bitcoin, ABC announced they will be hard coding the proposal for the miner tax in the following upgrade, the CEO of BTC.TOP Jiang Zhuoer who is among the original proposers of the tax, explained that he would vote against the proposal with the help of his personal hash power of 3,500 which is almost 3 percent of the network hash rate at press time. The proposal was initially supposed to go live only if 66 percent of the network hash power voted for it. After the clear division now in the Bitcoin Cash Community, Zhuoer believes that this proposal if accepted will do more bad than good.