Why is BCH surging?

03 Nov, 2018
by Arthur Sillers
News
Why is BCH surging?

According to CCN, Bitcoin Cash (BCH) has seen a price surge following Coinbase announcing support of the BCH token’s upcoming hard fork.

The announcement from Coinbase noted that the exchange would be offering support to ensure that during the BCH hard fork, which is being undertaken by the original developers of the BCH software, ABC. Since then, the price has ticked up around 12%. Furthermore, over the past two weeks, BCH’s volume has increased dramatically, currently more than doubling XRP, which for a long time it was lagging behind.

One of the main reasons a cryptocurrency surges prior to a hard fork is the expected reward that investors in the old chain acquire at a 1:1 ratio. The investor excitement over this payout, as well as excitement over the rising support of BCH over the background of an increasing volume seems to be surging Bitcoin Cash’s price.

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Read more about: Bitcoin Cash (BCH)

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