Whats going on with Bitcoin Cash BCH?

[Bitcoin_Arena]

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

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.

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[My User ID is 553628]

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.

[Dave1]

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.

[CYBER_COWBOY]

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.

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. 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. 
Up to $296 at the moment.

[Hypnosis00]

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.

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.

[adaseb]

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.

[killerfrost]

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.

[hugeblack]

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.

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.

[cryptoaddictchie]

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.

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.

[danherbias07]

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.

[FrozenBit]

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.

[TastyChillySauce00]

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.

[siniminomorocomunisakito]

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.

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.

[Xal0lex]

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.

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.

[vv181]

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.

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.

Jamil Nazarali, CEO of EDX Markets, deemed that the four crypto tokens listed on EDX Markets (Bitcoin, Ether, Bitcoin Cash, and Litecoin) were safe bets in terms of compliance with the United States Securities and Exchange Commission.

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.

[wxa7115]

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

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.

[Rampagoe004]

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.

[mich]

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/

[Ziskinberg]

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.

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.

[khiholangkang]

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

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