Bitcoin Cash (BCH) puts on fulminant price gains. After announcing their support for the upcoming BCH hard fork on November 15, the crypto exchange Binance increased prices by as much as 28 percent in the seven-day comparison.
It was not a full-blown Bull Run, but after all, BCH has been able to give a taste of what we’re likely to see soon in the last few days.
It’s the time of the Altcoins. At the weekend Bitcoins little siblings could get enough. While Bitcoin itself had to accept minimal losses, its most famous Hard Fork BCH was able to record a price gain of a good 28 percent in the last seven days.
BCH traded at just under $ 590 on November 4 – the highest since more than a month.
The prices were driven by a notable increase in traded volume. This has increased almost sixfold since the first of November. The volume increased from about $ 250 million to over $ 1.4 billion.
Increase in price due to Hard Fork
The exorbitant profits can probably be attributed to the announcement of Binance, that the stock exchange will bear the BCH hard fork. This is announced for the 15th of November.
“Twice a year, the Bitcoin Cash network is being phased out as part of planned protocol upgrades. The next BCH hard fork is scheduled for November 15, 2018, and Coinbase is ready to support the published roadmap of bitcoincash.org, “
Coinbase writes in a press release.
Hard Forks regularly lead to small bull runs, as investors can look forward to free coins. In the case of BCH, that is certainly a partial explanation for the price increase. Investors have accumulated in recent days, especially on the Asian stock exchanges such as Binance, OKEx and Huobi, as they have pledged their support for the Hard Fork.
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