It’s been a week that many investors wish they could erase, one that began with much promise but ended in despair. The week’s highlight was the Bitcoin Cash hard fork which took place on Thursday. And while the battle between Roger Ver and Craig Wright took center stage, investors were losing billions of dollars as the top cryptos shed double digits. Just a day before the hard fork, Bitcoin hit its lowest level in over a year, a deviation from the stability it has experienced in the past few months. All the other cryptos in the top 20 saw double-digit losses, with Ethereum losing its position as the most valuable altcoin to Ripple, a position Ripple has continued to hold onto.
Bitcoin’s volatility had become a thing of the past for the last two months. The crypto king had maintained its price in the $6,400 range, being even less volatile than the stocks in the U.S market. This went through the window on November 14, just a day before the Bitcoin Cash fork.