Bitcoin Forum

BCH is going up insane at the moment, I just found it out like 2-3 days ago that it had go up then it was like 40% last 24 hours.
I founded it rare that a common crypto currency go up that much in such so short time. I have never owned any BCH until a couple of days ago I bought some.
Then today when I logged in to see how much is was worth it had go up 16.11% last 24 hours!

"Bitcoin Cash Price Jumps to One-Year High Fueled by Spiking Social Interest, Exchange Support
With today’s 17% gain, BCH has now more than doubled in the week since it was listed on EDX Markets, a new crypto exchange backed by financial heavyweights."

Up around 100% last month.
Up around 67% last five days.
Up around 18% last 24 hours.

Last 24 hour when BTC and other currencies have got minus, BCH just shining like never before.  :)
Why this is happening is of course impossible to say, but maybe should we learn something about this for the future, i will check this up for the close future.  :)



EDIT 30/06-23

296,50USD
+183,18 (161,65 %)
past month

Mate BCH even barely pumped in the recent times, so I don't know what all the excitement is about

This chart should be able to give a clear picture about how BCH has been performing over time vs BTC

https://talkimg.com/images/2023/06/26/SudMv.png

Also, let's not forget that declining assets with less interest from people like BCH are so easy to manipulate.

No doubt, this is scenario of institution BCH is pumped hard Although not yet bullrun. Eventually i was sold my BCH today at the price $218 and then in the morning i open my apps exchange BCH price pumped to $225 , it's crazy eventually i had profit almost 100% but BCH already another level i never expect on bear market

It's just a usual pump that has been drived by bitcoin's hype. As you can see if bitcoin has been recovering again to the 31k while at the same time BCH was also gradually increasing a lot. It's caused by bitcoin hype has been also making BCH pumped by bitcoin whales.

This is not something new. If you are watching the market carefully and you will also see if another bitcoin fork coin like BSV has been also facing massive increase pretty much the same like bitcoin.

This is a common scenario in the crypto as crypto related to the bitcoin like bitcoin cash and sv increased a lot once bitcoin pumped so high.

It's been manipulated by btc whales. You will be seeing if BCH is likely increasing even more if bitcoin will do it.

It's the other way around. It is not the price that is pumped because of increased social interest. Social interest is increased because of price pump. You are the perfect proof (together with this conversation). We are talking about BCH because the price has pumped.. only because that ... not new usecase, adoption etc. And the price pumped up probably due to a pump and dump event combined with a short squeeze. It will end up in a dump because BCH is dead.

I am wondering maybe some of these institutions are getting it wrongly that bitcoin =! bitcoin cash. This is just situational but an altcoin that's pumping is no longer surprising when we're getting close to the bitcoin halving.

It's getting the attention because of the pump but it will not be surprising that it will also fall after wards just as what happens to the majority of the altcoins every after pump.

Yeah this is likely a manipulation and those that catches the falling knives will be affected a lot.

What makes you think that BCH is dead, it has been holding above $100 since 2022 and now in a pump that hits $200. Even I'm sad about selling my bch portfolio a while ago. I enjoyed holding BCH for sometimes, made profits through bch. I understand that lots of bitcoin users don't like BCH, but it's just obvious that so far bitcoin price goes up bch will follow the trend. The way it's moving BCH can hit $300 before it dumps again back to $150 thereabout.

1- Average 10k tx per day compared to 400k from bitcoin, 1 000k from ETH.
2- daily trading volume on binance before pump and dump event was like 3 mln $. Thats a dead shitcoin area.
3- zero adoption - literally no one is using it. ATMs do not offer BCH, online payment services with crypto do not offer BCH (they even have doge but not bch)
4- no progress, no new utilities
5- no media attention before this pump and dump event. Even Roger Ver, the biggest BCH shiller has already given up on BCH, the last of his statements I saw was about ETH

Trading volumes increased significantly during the last week, since it was about 100 million now it has become $1,612,099,479
116.43% This means that the retail sale is not the reason, but an institutional investment that led to this change. It may be one of the investment funds that invest in these currencies, or whatever it is, it will not continue and the price may maintain the current level at best.

BCH is dead coin and far from Pump/dump coin.

It looks like they are working behind the curtain, and it is effective since their market has dramatically increased; this coin is underrated because it's just a mere clone of Bitcoin and has been working harder in the past to surpass Bitcoins one day. Well, this is such good news because old coins like them do not often get some momentum in the crypto market, so shout out to those people that keep trusting it since the beginning until now; I'm sure they are having good days and a good dinner now.

I believe it's because it lagged behind for years compared to bitcoin while they have the exact supply while Bitcoincash is easier to transact. I'm not a BCH shill but along with Bitcoin, Bitcoincash to is a good option specially when you are trying to redeem your coins on something useful to buy. June of 2018, Bitcoin's price was just 8 times that of Bitcoincash and at today, the bitcoin's price is 135 times that of Bitcoin. So, bitcoincash is still catching up with it's past price records.

Not entirely sure what made it move like this, but it is obvious that this is a huge increase. I mean thinking that this was under 100 dollars just recently and suddenly it is over 200 dollars is a huge increase. Even though we are at a stage where bitcoin and all others increased, none that went up this much as far as I know so this one seems like a big one. It is not going to be a simple thing to figure out the reason but I would stay away from it as of right now.

Because if you bought it before the increase then you could have profited from it, since you didn't buy it beforehand, that means it might be too late right now and you may end up with a huge loss as well. I would highly suggest not to do that, just forget about it.

We need to get this as a fact and also get used to it that whenever there's a surge in cryptocurrency market price, it's more likely that not all of the cryptocurrencies will shine during that moment, though majority of them will rise but few may remain dip and when others now go dip, they create an opportunity for their own rising, that is why in cryptocurrency, things are unpredictable, we only try out our best by taking the risk thereof

Could say. This is because someone sees a good opportunity to rock this market and make a quick profit. Market makers may have seen that the BCH market is pretty easily manipulated at this point and decided to take advantage of it. Nothing just happens in the financial markets. If some asset shows a disharmonious growth or decline, it means that someone needs it and someone organized it all in his favor.

100% profit is always 100% profit, very good grats.  :)
I bought for $166 and now its worth $205. I will wait a bit longer and see how it will end!




I like what you saying and you have a good point here. If you where right we could see a big increase of the BCH value in the near future.  :)

Yeah I also noticed that from my wallet as well I was like something has happened possibly a positive news that have spike the market uncontrollably. Sometimes it's very hard to predict what would happened next in the market because altcoin aren't to be trusted 100 percent, as an investor I will advise you to take profits because you wouldn't know what may happen next. Still, never neglect puting trust in bitcoin as it's the most reliable coin to hold than any other altcoin out there.

Who knows, such sudden increase is a trap? People should be very careful in buying more of this coin.
But for those who are holding and they are getting their profits already, why not sell some?
At least, you already got your profits from this coin because if you wait too long, it can easily go back to where it was.

From the article from coindesk -

https://www.coindesk.com/markets/2023/06/26/bitcoin-cash-price-jumps-to-one-year-high-fueled-by-spiking-social-interest-exchange-support/

"Some $92 million in BCH has been transferred in the last 24 hours, compared to $11 billion in BTC, blockchain data by BitInfoCharts show."

So in my opinion, better be on the lookout about this forked coin, as the big holders may be trying to cash out good money from here.

It’s up over 110% in 2023 now but I don’t think anybody needs to be FOMO’ing in right now. It has low volume & low liquidity, I don’t trust pumps like this. It’s likely a small group of large bag holders pumping the price to lure people in. BCH is not a coin that I believe in personally but DYOR.

Temporary pump i think, traders must be tired of bch lack of movement for months i guess. Whatever this is, hope you are smart enough not to think of keeping it for long period, take your profit while you can.
There is not much community backing of bch so the only way to rise is artificial pump. Don't get dump on while chasing those profits.
 

That is somewhat unexpected as it was barely to pump without something behind it. It pumps before because it was bull season but on this current performance, I can't say it was a normal pump, hyped and someone got involved in this.
But anyway, it never gets much attention from the community knowing that they are not investing in this project (maybe just a few) and so we can't hear the noise about this project and the supports are very low. We must be careful in this kind of project that we never see any consistency, it could be a trap.

Let me add this

6. BCH is not where near it's all-time of $2940 high back in 2017. While most coins like Bitcoin and ETH are above their all times of 2017 ($20K) and 2018 ($1,200) respectively, Bitcoin cash instead continued to plumate to $231 where it is today

It should be somewhere $4k at the least if it followed the bull cycles. If this is not a dead coin to you, Accardo, then I don't know what is.

I thought it's already dead. Anybody who thinks investing to this coin is a brilliant idea is either a fool or very naive. I didn't even cashout my airdropped BCH's.

Yes, most likely those who have invested on them are not actually using it and most likely just for Holding.

But doesn't make sense as it should have been dead by now. In any case though, we know who are the people behind it and what they wanted to accomplished and the community are not going to support that kind of attacks.

Although most likely those who have are merely puppet of the project or they are somewhat related to BCH.

Yes. To invest money in crypto and make a lot of profit is very stupid & naive that's right.
The point is to make money not to be around when a currency have all time high or is cool or not cool.  :)
I am sure some traders has made some good profits last month.  ;D
Up to $296 at the moment.

It was manipulation and that action is made to attract newcomers thinking that was potential, yet it was not. We never know whos behind this unexpected rally but for sure it was related to the project. Well, they will still fail in what they are thinking of as I know that investors now are smart enough to determine what are the potential projects and what is not. Soon they will give up on making a fake pump as this situation won't stay long and this won't get much attention as what they're thinking.

The best time to sell Bch was when it was listed on coinbase and it hit like $3000 or $4000 or something similar. It had many pumps in its day. Everyday you would see Roger Ver going on interviews and pumping BCH. Claiming it’s the better Bitcoin because of larger blocks and longer block height. Almost everyday you would see a Roger ver post.

Now….

How often do you hear of Roger Ver? Almost never. After the BSV mess I think he just gave up. Like the above poster said,he seems to prefer ETH now compared to BCH even.

It seems that recent news has caused many whales and investors to FOMO with this coin, it is understandable that among the names mentioned by EDX, BCH has experienced strong growth, if compared with other coins. The remaining coins like BTC, ETH are too big to create FOMO, or new LTC is pumped. I also see the price today showing strong FOMO, some stories about the Koreans helping to push the price make me feel quite interesting about what's going on with it.

The reason may be that it has turned from a currency that follows cycles into a pump/dump coin. If this is true, then it is likely that the current rise is confirmation of the death of this currency, as most of them do not return to rise again, regardless of price cycles or market trends.
The rise and peak that occurred in the year 2017 was due to speculation and the lack of alternatives with a large injection of liquidity into that currency and spamming the Bitcoin network in hopes of making it an acceptable alternative. Remember at that time that the individual had to pay $50 as a transaction fee. things changed a lot from that time.
In general, in any case, there are enough negative indicators to avoid investing in that currency, and therefore do not try to catch a speeding train.

Yeah the pumped is really high but without any adequately volume this means someone is trying to pump it badly. Ofcourse other retailers and huge traders would notice the movement and likely to scoop some profits. But wondering what could be the real reason for this since there is not much noise around and anything to get excited about.

Don't fall in love with the pump. If you see profits, especially on that coin, do take it. It might not last long because there is not much hype that is happening about them, more on the FUD side.
Another reason could be it was just pulled up by the recent increase of Bitcoin. It ain't like a lot of investors will really risk their money on them so another reason could be manipulation by whales or the team behind it. Be cautious with sudden movements like this because it might just be a reason to make profits from those who can shake that market.
If I were in your position, my balance in BCH will already be zero because I don't really trust it. I'd rather use that money to buy Bitcoin or Ethereum.

I've been witnessing the market volatility at the moment and the SEC news seems to be bringing a buzz, but looking at BCH's price increase today it's really impressive, although this is not a coin that I spend a lot of time researching, but indeed after the news from June 20 to now, the price of BCH has had an impressive increase in price compared to the current market context. It doesn't matter if this fomo lasts or not, but we all have to admit that the reality is that just having good news some things will be used by themselves to attract pump power.

Listed on EDX market has become the main reason. Korean community was the main party behind this pump.

https://www.newsbtc.com/news/bitcoin-cash/never-skip-korea-pump-bitcoin-cash-soars-168-10-days/

It's clearly said that by the article if korean community was always pumping altcoins. It seems like they are FOMO ing BCH after it gets listed on EDX market.

It may go back again later after those korean people will have done to pouring their money into the BCH.

Yes. FOMO sentiment in my view can result in irrational buying behavior. Yes. LTC today is pumping strong. but, besides that it can also collapse in the next moment which will make everything go topsy-turvy. Yes. very risky if FOMO-driven Buying and Pump and Dump Schemes have the potential to occur.

Unfortunately, not all coins, even the most famous ones such as TRON, Ripple, have the ability to update or reach their former ATH. In 2017, there were a lot of speculative spikes that sent prices sky high, very high. BCH is just a prime example where there was a liquidity spillover from bitcoin to BCH and then back again. I don't think we will ever see BCH that expensive again.

Certainly, an exchange backed by Wall Street giants like Fidelity, Citadel and Charles Schwab, knows the differences and won't be misled by a rookie mistake. That cheap misinformation is absurd to be believed by such an institution.

---

Anyway, Bitcoin Cash does not pump for no reason. It is a consequence of the exchange listing, thus, the short seller is forced to maintain or exit its position. That is what drives the prices higher and higher, it is due to a Short Squeeze. The South Korean exchange also has a volume spike. So there is indeed some relation. Neither they are FOMO'ing, the market does tell what causes it, not simply a pump and dump scheme.

When we look at BCH in terms of dollars its growth is remarkable, however I was expecting that when I took a look at BCH in terms of bitcoin not much would be happening but I was mistaken.

BCH has been losing ground against bitcoin since May of 2021, however during the past two weeks we are witnessing a recovery we have not seen in years, and quite honestly I have no idea why this is the case, and it would be interesting to hear out other members of the forum and see if they have an explanation about what is happening.

https://iili.io/Hi0QPVI.md.png (https://freeimage.host/i/Hi0QPVI)

If you look at the chart, BCH is currently experiencing a significant decline. This is not surprising as BCH is one of the big coins in recent years. Currently their trading volume has fallen by 50% which indicates that their prices are deliberately inflated by certain parties.

And if you look at the round-the-clock charts, you can see that BCH is still way below their ATH. And I don't think BCH is still worth watching if it hasn't touched $500.

Well I am happy to say I still hodl the coins from the fork from 2017. This is not a coin that I ever did trade but I did think to hodl it over all this time.
It is because of the South Korean exchange Upbit for these profits. There has been a lot of trading going on over there with 3.5 times more then at other exchanges.
https://www.coindesk.com/markets/2023/06/30/bitcoin-cash-tops-300-amid-surge-in-trading-volumes-in-south-korea/

Yes, if you look into its yearly movement and price chart, it was declining. But just tried to change the time frame into the current month or year, and you can see a huge pump that gains attention and asks how? Yet, the rise wasn't really convincing to us because we think that this project won't make another market break and the current pump is not really because people are buying, something there is behind the scene. Because people are doubts what awaits for them if they are going to buy and it is too risky.

This reason is more logic in my opinion, although I am quite tempted by the increase in Bitcoin Cash, but this is more scary, coins like that are easy to manipulate and trap investors then they take advantage, and we become a loss when we queue at the end of the pom pom price They do.

If you are a smart trader, of course this will be an opportunity, you are a little receiving a tube income, but don't think for the long term in a situation like this, I don't know the trigger for an increase that there is a fast increase in a situation like this, maybe this could be is a trap. IMO

Looks like the fomo hasn't stopped yet i remember since after the event from EDX people fomo a lot about it as well as observing the whale wallets actively pushing it up i also think if bitcoin wasn't so volatile If there is a bad move, the BCH will continue to increase in price compared to the present. Although it seems to me that this is one of the rather old coins, there are times when it is unexpected to see it still receive attention from the community, and the pump/dump games still happen.

Now BCH is interesting only for short-term investors, in the long term BCH is of little interest to anyone, because of its incessant bearish trend and the fact that the price is constantly tending to decrease. Prices of 2017, most likely, we will never see. In the long run, holding such coins is extremely inefficient.

I am not following the technical development of BCH, the hype was there when the fork happened and the debate of big blocks was ongoing but then it died out and we are not hearing much from any of the major preachers who were promoting the coin  :D, either they are not updating anything here in this forum and hence i am not following their developments and i would happily invest in BTC rather than BCH.

BCH was absolutely not important to us, it has no value. It was surprising that it pumps after a few years in silence but still, this won't change the insights of the community. Yes, we expect someone behind this short pump but we never heard any news mentioning the reason why. However, there is no time of digging it, in fact, it never gives interest to the people which is why it is moving down back again. And this is really what will happen in a project that doesn't have support from the investors and traders because what the team can do is to show a fake pump but still they fail.

The pump goes high, and its good to those who are able to ride early well don’t be overhyped and stay focus with your goal to make profit, this will not last longer but a positive result can be a good one. BCH still one of the top coins as per market cap and its good for a project like this. Though I still see this as a follower of Bitcoin so if Btc pumps and dump, it will also follow that trend.

I think it all started with wall street started to open a cryptocurrency exchange composed of Citadel, Fidelity, and Charles Schwab.
And Bitcoin Cash (BCH) is included listed the cryptocurrency exchange. And that time Bitcoin Cash (BCH) started to rally.
Among all the listed cryptocurrencies on a said cryptocurrency exchange, only Bitcoin Cash (BCH) is the top mover.

In general it often creates excitement and When big players enter the cryptocurrency market, positive sentiment arises, which leads to increased trading activity and price movement for the listed assets. Yes. I think so in light of the recent Bitcoin Cash (BCH) Rally, including increased interest and adoption due to its listing on cryptocurrency exchanges involving leading financial institutions such as Citadel, Fidelity, and Charles Schwab.

BCH has made its way onto several major exchanges. This is what has caused the price to continue to rise. I think this is a positive for BCH going forward. There are some people who argue that BCH is short term hype but if it goes into the big exchange market I don't think it will be in the short term. Investing in BCH (DWYOR ) is the right thing right now.

Congrats because you manage to HODL your Bitcoin Cash this long but will you get tempted to sell it this time? If I were you I think I will sell some and observe if many pumps are going to come, that should be the time to sell again and so on. If you like, you can still re-buy when there is a dump that will happen. So many factors are linked about the increase of Bitcoin Cash.

I'm not sure if Upbit is the first one because I already saw another reason last time. If I'm not mistaken it is said TUSD if printing more money to buy or manipulate Bitcoin Cash. Maybe Upbit users only spot it and that makes the trading volume of Bitcoin Cash from this exchange grow.

This seems like a good moment to sell, some may have not touched their bitcoin cash back then as they did not knew how to claim the many forks we saw at the time or they were simply lazy to do it.

However this seems like an opportunity that people can not let go, since even if the price of bitcoin cash has presented a decent recovery, we do not know for how long this could last, and it could take years for another recovery like this to take place again.

It is a fact that I feel that the fomo with it is still very jubilant, people discuss the price and next trend when it is pumped, there are many sources and reasons that we know at what about BCH, at the moment some names other than BCH that benefited previously also have some other names, but it is clear that the mainstream is still being led by bitcoin, its volatility really affects strongly influenced even altcoins to be pumped/dumped.

Yes, indeed. On June 20, a strong growth of BCH began. Even with some decline over the last week, the overall increase over 2 weeks is quite significant. I wouldn't even notice it if it wasn't for your topic.

Did you fall for this little hype around BCH? Quite possibly, because of people like you (buyers who saw growth), this price increase has been fueled.

So your spontaneous investment in BCH turned out to be successful? You don't plan to hold it for long and get rid of BCH at the first (profitable) opportunity, right?

That means what's the matter. Another positive news background spurred the purchase of BCH, which caused a sudden increase in the price.

Every peak rise is followed by an equally peak fall.

It was a good opportunity for speculation.

I bought total one BCH under three different times. My profit is now around $63.
I haven't sold anything yet.

in my opinion, people should be very careful in holding this forked btc. it may have been added in the list of new crypto exchanges but let's revisit its actual use case in the market. because when it comes to payment method, BTC is still on top. bch is just one of the secondary options.
this increase may be temporary so holders should not expect that this will be continuous one. should also check if there are new updates when it comes to actual developments for this alt.                      

That's quite good to.  :)