Whats going on with Bitcoin Cash BCH?

[CYBER_COWBOY]

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

[Bitcoin_Arena]

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



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

[riskarcher]

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

[X-ray]

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.

[Tytanowy Janusz]

"Bitcoin Cash Price Jumps to One-Year High Fueled by Spiking Social Interest, Exchange Support"

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.

[livingfree]

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.

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

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

[Accardo]

"Bitcoin Cash Price Jumps to One-Year High Fueled by Spiking Social Interest, Exchange Support"

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.

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.

[Tytanowy Janusz]

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

[hugeblack]

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.

[yazher]

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.

[tsaroz]

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.

[el kaka22]

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.

[Doan9269]

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

[Xal0lex]

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.  

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.

[CYBER_COWBOY]

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

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 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.

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. 

[Adbitco]

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.

[TimeTeller]

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.

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.

[DeathAngel]

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.

[Bitstar_coin]

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.
 

[Questat]

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.