Bitcoin Cash (BCH) Pumps 30% to $300 – Is Now the Time to Invest?
• Bitcoin Cash (BCH) has rallied by over 30% in the last 24 hours to climb above $310.
• The rally can be attributed to its listing on EDX Markets and the perceived belief that Bitcoin forks will get the same treatment as Bitcoin from regulators.
• Federal Reserve Chairman Jerome Powell also said that cryptocurrencies have a future, which further boosted investor confidence and pushed up prices.
Bitcoin Cash (BCH) Soars 30%
Bitcoin Cash (BCH) has surged by over 30 percent in the last 24 hours, climbing above $310. This surge is due to several positive developments surrounding BCH, including its listing on EDX Markets and investors‘ perception of its regulatory fate.
Listing On EDX Markets
The listing of Bitcoin Cash (BCH) on EDX Markets provides it with a legal advantage over other cryptocurrencies, as it is perceived as a commodity rather than a security. Furthermore, EDX Markets carries significant weight in the market due to its institutional backers such as Fidelity Digital Assets, Charles Schwab, and Citadel Securities. Since being listed on EDX Markets earlier this week, BCH has gained 78 percent in just four days and has seen three-year highs in social discussion rates and volume according to market analysis platform Santiment.
Perceived Regulatory Fate
The narrative surrounding Bitcoin forks is that they will get the same treatment as Bitcoin from regulators. The SEC has categorically disqualified Bitcoin from being a security; if this holds true for BCH too then it will be safe from regulatory action and potentially boost adoption by both retail investors and institutional investors alike. This sentiment was further bolstered when Federal Reserve Chairman Jerome Powell said that cryptocurrencies have a future — an assurance that further boosted investor confidence in digital assets like BCH thus pushing up prices even higher.
Bullish Market Sentiment
The current bullish sentiment surrounding BCH is likely to continue given the recent developments mentioned above, but volatility remains high so caution should be taken when investing or trading it. As always do your own research before making any decisions about investments or trades based off of market movements or news articles such as this one!
In conclusion, Bitcoin Cash (BCH) has surged by more than 30% due to several positive developments including its listing on EDX Markets as well as investors’ perception of its regulatory fate. Furthermore, Federal Reserve Chairman Jerome Powell’s assertion that cryptocurrencies have a future also helped fuel investor confidence leading to an even greater rise in price for BCH and other digital assets alike!