Rollercoaster weekend for Bitcoin Cash: All-time high followed by a rollback

Bitcoin Cash price reached $2000 milestone as the value of the first cryptocurrency fell below $6000.

This weekend saw Bitcoin Cash skyrocketing in value. After the fork was launched in August it was balancing in the $300 range for 3 months. In the beginning of November it jumped up to $600. On Satturday morning it surpassed $1000 milestone for the first time in its history. Over the next 24 hours it kept growing and on some exchanges BCH was traded for $2500. It was followed by an expected correction. At the time of writing it was traded at around $1700.

This phenomenal rally put BCH market cap over $30 billion for a few hours that made it the second most valuable cryptocurrency behind bitcoin.

As for bitcoin its price plunged below $6,000 early on Sunday morning. Bitcoin's price has been on a steady downtrend after a planned hard fork was called off earlier this week. On Wednesday it was traded at an all-time high of around $7800.