Bitcoin Cash (BCH) News – Why is Bitcoin Cash (BCH) up by 19% today?

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Most of the cryptocurrencies are trading flat. The cryptocurrency market cap is also stagnant around the $ 208.53 billion. However, when you look at the mainstream cryptocurrencies, you will realize that one cryptocurrency is up by over 19%. It is Bitcoin Cash (BCH). It has risen by 19% in the past 24 hours. Many investors are trying to figure out why. We will look into the reasons below.

Why is Bitcoin Cash (BCH) up by 19% today?

Currently, Bitcoin Cash (BCH) is trading around $ 562. The market cap of Bitcoin Cash (BCH) is currently around $ 9.82 billion. In the last 24 hours, it is up by 19%. This was after a rise of 22% in the last one week. This clearly indicates that something is up when it comes to Bitcoin Cash (BCH).

If you have been following the news up until now, this is due to the hard fork which is upcoming in Bitcoin Cash (BCH). The hard fork in Bitcoin Cash (BCH) is scheduled for 15th of November at 16:40 GMT. The blockchain of Bitcoin Cash (BCH) will be split into 2 different versions. One will be Bitmain’s Wormhole and another will be Craig Wright’s nChain implementation. One thing which is for sure is that only one of this blockchain is well versed to be dominant in the coming few weeks.

However, investors are expecting that there will be significant value creation. Moreover, most of the major cryptocurrencies exchanges like Binance as well as Coinbase have already announced that they will be supporting the Bitcoin Cash (BCH) fork. This clearly indicates that the cryptocurrency community is celebrating the Bitcoin Cash (BCH) hard fork rather than avoiding it.

Generally speaking, hardforks have created immense value for most of the investors. However, the new cryptocurrencies which have been created after the hard fork have been pretty volatile as well. This is the reason why it is important for the investors to know when to exit from the cryptocurrencies which are created by the hard fork.

With Bitcoin Cash (BCH) consistently rising, it remains to be seen by the time the hard fork finally arrives, where Bitcoin Cash (BCH) is trading. With the way it is moving up, it can gain immensely in the pending 11 days as the hard fork is scheduled for November 15, 2018. This will lead to immense value creation even for holders who want to sell Bitcoin Cash (BCH) before the hard fork.

About Riddhi 224 Articles
I am an electronics engineer and follow the crypto space closely.

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