Bitcoin Cash Price Leads All Crypto Gains as BCH Hard Fork Sees $1 Billion in Trading Volume
One of the largest and most popular virtual currencies in the market, Bitcoin Cash (BCH) has skyrocketed more than 19% before its planned hard fork. On November 15, the network has a scheduled fork that will define the future of this cryptocurrency.
The volume of Bitcoin Cash has grown exponentially. At the time of writing, BCH is registering $1.21 billion dollars in trading volume. At the time of writing, each BCH coin is being traded around $575 dollars. In the last 24 hours, Bitcoin Cash registered an increase of 20.85%.
On November 2nd, BCH was traded close to $420 dollars. Since that moment, it increased 36% to reach the current value. Similar to the one it had at the end of September 2018. Currently, Bitcoin Cash’s trading volume is the largest in the market after Bitcoin (BTC), Tether (USDT) and Ethereum (ETH).
Investors are accumulating as much BCH as possible to be able to benefit from the hard fork. Nchain, a company backed by Craig Wright will be forking from the Bitcoin Cash chain on November 15. In this way, there will be two different chains of Bitcoin Cash. BCH holders will receive an equivalent amount of the new coins from this BCH chain. Nevertheless, a price retracement of Bitcoin Cash is highly expected after the hard fork.