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Home / Altcoins / Bitcoin Cash (BCH) price analysis. The reason behind the recent surge in the price of Bitcoin Cash (BCH).

Bitcoin Cash (BCH) price analysis. The reason behind the recent surge in the price of Bitcoin Cash (BCH).

Bitcoin Cash (BCH) is presently trading at $269.53 and showing a positive growth of around 9%. The market cap being $4,786,398,701 and 24 hour volume circulation being $1,295,669,949. This suggests that it is performing well among the altcoins. Bitcoin Cash (BCH) has become the fourth largest digital currency after such a surge in its growth.

The reason that has pushed such growth rates for Bitcoin Cash (BCH) has been the increase in mining that has increased for Bitcoin Cash (BCH). The mining has been done by an unknown miner that signs his or her transaction as Satoshi Nakamoto, a pseudonym taken up by the group that developed Bitcoin (BTC) to hide their identity.

Some experts believe that the minings are done by the supporters of Bitcoin SV (BSV) that want to recoup for the lost profits by the decrease in the price of Bitcoin SV (BSV) by dumping mined Bitcoin Cash (BCH) for Bitcoin SV (BSV). They hope that this move can lead to the fall in the price of Bitcoin Cash (BCH) and ultimately leads to its collapse. The fall of Bitcoin Cash (BCH) will help its rivals.

Another theory suggests that the miners are trying to attack Bitcoin Cash (BCH) network and discredit it as they did once with the Bitcoin SV (BSV) network. On the other hand, the Bitcoin Cash (BCH) supporters’ computation shows that they can win in this battle. Whatever be the case, Bitcoin Cash (BCH) is experiencing growth as mentioned earlier. How the different events fold out in the crypto market remains to be seen.

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About Ritika Sharma

Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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