Bitcoin Cash Popped $500 recently - reason?

[Zoe Saldana]

Anyone know a reason why Bitcoin Cash popped to $1,528 recently.

Anyone have a reason for it?  I searched for any news on it and could not find any.

[Almasani]

It is currently a bull run season, so all coins will increase, especially Bitcoin Cash, which should have increased in price earlier than other coins. Maybe if you look at the bull run in 2017, the price of Bitcoin Cash is higher than Ethereum. However, this year BCH suffered a setback. What we have to ask is why BCH has been slow to take up the pace of price increases.

[hugeblack]

There is no reason, as many cryptocurrencies bump/dump but my personal analysis of BCH is the following:

 - Some of the updates expected on May 15th will see the introduction of multiple "OP_RETURN" outputs, including adding text and images^[1].
 - The possibility of adding NFT to the network based on the above modifications^[2].
 - introduction of double-spend tests


The answer, then, in short, is NFT’s fever, which may bring in more money.

[1] https://news.bitcoin.com/bitcoin-cash-slated-for-may-15-upgrade-to-bring-improvements-for-users-and-merchants/
[2] https://bitcoincashresearch.org/t/cash-improvement-proposals-chips-and-proto-chips-list/371

[Yaunfitda]

Anyone know a reason why Bitcoin Cash popped to $1,528 recently.

Anyone have a reason for it?  I searched for any news on it and could not find any.

No reason, it's altcoin season, so at least top 20-50 coins might get a good pump. And it you are lucky you have been holding them for a long time or at least bought them with the price is cheap, you are in for a big surprised. Or probably there are big news behind that we didn't know except for those who follow BCH.

Ethereum, BNB and others have achieved all time highs already and there are more leg room to reach the moon in the coming months.

[Zoe Saldana]

Thanks for the replies.

I get the feeling that the crypto season will be all year soon.

[Sithara007]

I am actually surprised that Bitcoin Cash took so much time to break in to the top-10 list in Coinmarketcap again. The transaction fee has remained exceptionally high for many months now, and naturally this could have made things easier for BCH. But it is still languishing lower when compared to some of the other alternative modes of payment, such as XRP and Dogecoin. BCH uses the same algorithm as that of Bitcoin, and the only difference is that the block size is higher (which ensures a lower transaction fee). So naturally when the BTC transaction fee is higher, the demand for BCH increases.