Bitcoin Cash - Why did BCH rise with 140%

- 5 minute read

Mike Hesp
Mike Hesp

Bitcoin Cash (BCH) is up nearly 140% from a month ago. Where did the impressive rise come from and can BTC's little brother continue to rise?

Brief summary:

✔️ Bitcoin Cash is up 140% from last month thanks to its availability on the new crypto exchange EDX Markets;

✔️ Bitcoin Cash has faster transaction processing and a more scalable blockchain than Bitcoin, making it attractive to users looking for faster and cheaper transactions;

✔️ Whether Bitcoin Cash will continue to rise in the future depends on factors such as adoption, sentiment in the crypto market and Bitcoin's performance;

Table of Contents

  1. Why has Bitcoin Cash risen so much?
  2. Bitcoin Cash price
  3. What is Bitcoin Cash?
  4. Will Bitcoin Cash continue to rise?

Why has Bitcoin Cash risen so much?

Compared to last month, Bitcoin Cash surged 140% . The main reason is that Bitcoin Cash's coin, BCH, will be available on the new crypto exchange EDX Markets. Doesn't sound so special you might say. Yet this is special because the new exchange is funded by asset manager Fidelity Investments, among others. They have assets of $4.900 billion. To trade on the exchange you must first be authorized to prevent manipulation by criminals.

Why did they choose Bitcoin Cash? Big brother Bitcoin (BTC) is very slow in processing transactions compared to Bitcoin Cash, and Bitcoin Cash's blockchain is more scalable.

Bitcoin Cash price

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a cryptocurrency designed to enable faster and cheaper payments and was created in August 2017 from a hard fork of the original blockchain Bitcoin (BTC) . Bitcoin Cash was developed with the goal of increasing the block size limit on the Bitcoin network to speed up transaction processing times. This allowed more transactions to be processed simultaneously. With its larger block size, low transaction fees and fast confirmation times, Bitcoin Cash is an attractive option for people looking for fast and cheaper transactions than traditional payment methods. Moreover, Bitcoin Cash allows users to build applications on top of the blockchain protocol, which can be used to facilitate different types of payments between users. With its various advantages, Bitcoin Cash is also becoming increasingly popular among crypto traders and investors.

Bitcoin Cash is very similar to Bitcoin and uses the same consensus algorithm, namely Proof of Work. If you look at the transaction history of both blockchains, you will see that they are the same until the hard fork, after the fork the paths of the two separate blockchains .

Will Bitcoin Cash continue to rise?

Whether Bitcoin Cash will now continue down the line and rise further is hard to say. It depends on the level of adoption and sentiment of the entire crypto market. In general, the entire crypto market remains dependent on the performance of BTC, but as we have now seen, BCH can perform well on its own if there is adoption. It is therefore important to keep a close eye on the news surrounding Bitcoin Cash.

Looking at BCH's price history, the coin is far from its all-time high. During the 2017 bullrun, the coin managed to rise to $4,355.62 on Dec. 20 of that year. Currently, the price is $272.78 per BCH. This means the coin has fallen 93.72% since its all-time high. During the last bullrun in 2021, BCH "only" managed to reach a price of $1,298.56 per BCH. So relative to both scenarios, a sharp rise in the BCH price is still possible. Whether BCH can reach the 2021 peak or perhaps the 2017 peak during the next bullrun (expected in 2024) depends mainly on the duration of the bullrun, the level of adoption and thus the growth in popularity of the coin.

Interested in BCH?

At Anycoin Direct, you can quickly and easily Buy BCH .