In this video blog, we look at the recent price rise of Bitcoin Cash (BCH). The controversial cryptocurrency project has risen by more than 12% in the last 24 hours. At the time of recording, Bitcoin Cash was trading at a little more than $1,454 on international exchanges and between Rs 95,000-1,00,000 on Indian exchanges. So, why has the BCH coin price risen in the last 24 hours? We see three fundamental reasons:
1. The bull season is finally here, and more people are investing money across altcoins. Bitcoin Cash cryptocurrency is also reaping the benefits.
2. Bitcoin Cash was listed on London Block Exchange today, giving more investors access to BCH coin in the UK.
3. The biggest reason could be the interest around the upcoming Bitcoin Cash Hard Fork on May 15th which is aiming to bring functionalities such as smart contracts and bigger block sizes to the BCH blockchain. Investors might be accumulating BCH considering the positive impact that the hard fork might have on Bitcoin Cash prices.
Bitcoin Cash gets a boost after being added to a London exchange:
Bitcoin Cash to Upgrade to Smart Contracts, Bigger Block Size with May 15 Hard Fork:
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Bitcoin Cash (BCH) price rises above 12% ahead of the upcoming hard fork (Hindi)