A recent look at the price action of the digital asset market shows that the market has taken a big hit this month. The overall market cap of the crypto market is down by nearly $40.0 billion. It appears that things won’t improve soon as the market action remains bearish. The price of the number one digital asset Bitcoin is down by 3% as of November 19. BTC price is moving closer to the $8,000 support position. For today’s crypto news, Bitcoin and the overall crypto market went down sharply. Even altcoins like Ethereum, Binance Coin, Litecoin, Bitcoin Cash, EOS, Tron, and ADA have also recorded losses.

So far this week, we have seen sharp losses in the price of Bitcoin Cash as the digital asset moved below $280 which is a support position. This time around the bears have regained momentum which has resulted in heavy losses for BCH. The price of the coin first dropped below $270 and later $265. The price of BCH is now trading under the $250 price position. It appears this price action could continue and BCH could move down to the $240 support area. If there’s an upside correction, both the $255 and $260 points will be the likely hurdles. The main resistance point for BCH on the upside should be close to $280.