Bitcoin Cash (BCH) continued to surge over the weekend in anticipation of its upcoming hardfork, scheduled for November 15th. The value of BCH is now up 28% since the surge began on Friday, and has gone on to exceed monthly highs in the process.
The source of the surge is widely believed to be the result of BCH holders hedging their bets in anticipation of the upcoming hardfork. When the hardfork hits just over a week from now, BCH holders will receive a new coin on a 1:1 ratio, and many who would not otherwise have bought BCH may now be buying in purely to take advantage of this scenario.
BCH/USD Spikes 28%
From Friday’s low of $425.20, the price of BCH rose to $547.99 over the course of the weekend. That 28% surge carried the coin past its monthly high, and as of Sunday morning it continues to move.
Continue Reading : https://cryptoupdate.ca/bitcoin-cash-up-28-over-weekend-as-bch-holders-hedge-hardfork-bets/
The source of the surge is widely believed to be the result of BCH holders hedging their bets in anticipation of the upcoming hardfork. When the hardfork hits just over a week from now, BCH holders will receive a new coin on a 1:1 ratio, and many who would not otherwise have bought BCH may now be buying in purely to take advantage of this scenario.
BCH/USD Spikes 28%
From Friday’s low of $425.20, the price of BCH rose to $547.99 over the course of the weekend. That 28% surge carried the coin past its monthly high, and as of Sunday morning it continues to move.
Continue Reading : https://cryptoupdate.ca/bitcoin-cash-up-28-over-weekend-as-bch-holders-hedge-hardfork-bets/
