That's how Bitcoin Cash looks to me, another hyped altcoin, we've seen many of them already, and always the same story: high price at very beginning, then maybe even higher price a bit later, and then starts the inevitable decline. Some where saying in this thread that 0.1 BTC is the bottom for BCH and now we at 0.068.
I bet we will see much, much lower. Some altcoins simply drop for many months before the tide starts to turn and selling dries up. Supply for BCH is potentially huge on the exchanges given the size of the airdrop, too.
I was thinking so too, but what is this happening? Why 0.08238500 BTC? Who's buying the coin, this Bitcoin Cash, which I thought will be only falling in the nearest future? I'm a bit confused now, to tell the truth.
There is nothing to be confused about
If you keep in mind that Bitcoin Cash has been cloned down or up to a single satoshi on the blockchain, you will easily understand that while there are quite a few regular Bitcoin holders who are dumping their BCC tokens, there are also BCC holders who are dumping regular bitcoins (the mining cartel can be doing exactly that). And while the former pour the cash thus earned into regular Bitcoin, it works in the opposite way as well. That is, Bitcoin Cash supporters might be selling good old bitcoins and buying Bitcoin Cash instead thereby supporting its price