Bitcoin Cash [BCH] and EOS get mauled by the bear as price slump reaches significant heights

2019 has started in a typical rollercoaster fashion for the cryptocurrency market with several coins suffering the wrath of the bear after a week that saw sporadic bullish gains. Bitcoin [BTC], which has acted as a catalyst staying above $4,000, has fallen below the mark, following which the entire chart shows a drastic bleed.

At press time, EOS was trading for $2.71 and was falling at the rate of 3.17%. The cryptocurrency held a market cap of $2.457 billion and a 24-hour market volume of $906.282 million. A majority of the trade volume was held by OKEx, which had a grasp on $114.480 million worth of EOS trade. OKEx was closely followed by DOBI Exchange, controlling 7% of the total trade.

What makes the crash significant is the fact that just last week, EOS was among the best performers on the charts. The fifth-largest cryptocurrency was gaining in double-digit numbers, an event overshadowed by the current bearish scenario.

The top-four cryptocurrencies also suffered the bear’s wrath with Bitcoin Cash [BCH] exhibiting multiple drops and turning out to be the biggest loser amongst the top-10 club.

At the time of writing, BCH was trading for $143.26, with a bearish turn of 11.3%. The cryptocurrency held a market cap of $2.515 billion, with a 24-hour market volume of $217.721 million. Upbit, a popular cryptocurrency exchange, had a hold on $16.236 million worth of BCH trade. LBank came in a close second, controlling 5.84% of Bitcoin Cash’s total trade.

Bitcoin Cash was also in the news recently when CoinField, a popular Canadian cryptocurrency exchange, added new BCH pairs along with other pairs of Bitcoin, Ethereum and Litecoin. Roger Ver, the CEO of Bitcoin.com and one of Bitcoin Cash’s major proponents, had also predicted that 2019 will be the year of stablecoins. He had further stated:

“There are so many use cases for cryptocurrencies and I have made it a point to inform users about it. One major example is Purse.io, using which shoppers can get a 30 percent discount on Amazon. Bitpay has also made several strides to make Bitcoin Cash popular along with Coins.ph. Using Coins.ph, people can send money from the Philippines to anywhere else on the planet, quickly and easily.”