Bitcoin Cash price drops a few days before the hard fork

At the start of this month, Bitcoin Cash (BCH) excelled in a relatively quiet period among all altcoins by increasing its value by more than 50% in the first week of November to a level of $632. This was the result of the announced 'hard fork' that will take place on November 15. Although that still has to wait a few days, BCH has dropped to a current value of $528 according to data from CoinMarketCap.

As a result, the fourth largest cryptocurrency, based on total market value, lost over 16% in value in less than a week. In the last 24 hours, BCH has recorded a loss of 1.09% at the time of writing, while the rest of the most important cryptocurrencies were mostly green.

After the upcoming hard fork became known, a lot of investors bought BCH. The hard fork will result in the blockchain of Bitcoin Cash splitting into Bitcoin ABC and Bitcoin SV (Satoshi's Vision). One Bitcoin SV will be offered for every BCH investors hold at that moment. Despite the upcoming hard fork, the value of BCH has dropped considerably in the past five days, possibly as a result of the conflict between the ABC and SV camp, which seems to get worse as November 15 approaches.

Yesterday cryptocurrency-exchange Bitfinex announced that it supports the hard fork but will not choose for either party until the hard fork is complete and the community can show some form of unanimity:

“Bitfinex will not argue for or against a certain fork and miners have the full right to use their hashing power for whatever project they choose. At the moment we do not think there is enough consensus to identify a clear winner of Bitcoin Cash's hard fork.”