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Bitcoin Cash (BCH)

Bitcoin Cash (BCH) Surges By 166.3% In Two Weeks, Secures Place Among Top Q2 Gainers

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Bitcoin Cash (BCH) has experienced an impressive surge of 166.3% over the past two weeks, solidifying its position as one of the top gainers in the second quarter of 2023. 

Coingecko’s latest report takes an in-depth look into the history of BCH, explores the factors contributing to its recent price surge, and examines its unique characteristics compared to Bitcoin.

Bitcoin Cash, derived from the original Bitcoin blockchain, strives to be recognized as the cash variant of Bitcoin, integrating versatile features that improve its usability for regular financial transactions in accordance with Satoshi Nakamoto’s original intent.

During June 2023, BCH witnessed significant price growth primarily because it joined the EDX market as one of the first four assets listed on that platform. Including Bitcoin, Ethereum, and Litecoin in this venture represents a noteworthy accomplishment for the world of digital currencies.

EDX Markets seeks to close the distance between conventional finance and the cryptocurrency industry by facilitating connections between influential entities in both fields. By undertaking this initiative, it aims to merge traditional financial practices with the world of cryptocurrencies, ensuring security for both mainstream and native investors.

A united and flourishing community kickstarted Bitcoin’s expedition, undertaking a comprehensive exploration of both the potential of the Bitcoin blockchain technology and its accompanying virtual currency.

Bitcoin’s functionality gave rise to conflicting ideologies among its proponents, causing fractures within its community. Ultimately, these divisions culminated in the introduction of BCH and signaled an end to the era when everyone shared a common belief about what this cryptocurrency represented.

Bitcoin Cash (BCH) Soars: 200% Surge In June 2023

On the final day of June 2023, Bitcoin Cash reached a yearly high of $320, marking an impressive 200% increase from its opening price of $110 at the beginning of the month. 

The market cap of Bitcoin Cash has surpassed $6 billion, while daily trading volume soared from an average of $52 million to over a billion dollars in the closing weeks of June, reflecting a remarkable 20-fold increase.

On-chain metrics have also experienced growth, with the number of Bitcoin Cash holders surpassing 22 million. The mining difficulty has increased to over 390G, and the hashrate exceeded 3.1EH/s on June 30, 2023.

It is worth noting that Litecoin, Bitcoin, and Bitcoin SV have also witnessed growth during this period. While the precise catalyst for this significant growth remains speculative, the launch of EDX Markets is the most likely driving force.

Related Reading | XRP’s Social Dominance Declines, Setting The Stage For Potential Rally 

Reconsidering Bitcoin Cash (BCH): Challenging Prevailing Narratives In 2023

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Bitcoin Cash (BCH) has long been criticized and labeled as a niche cryptocurrency with no real adoption prospects, often referred to as a “zombie chain.” 

However, a prominent analyst and investor, Justin Bons, believes these prevailing narratives should be reconsidered in 2023. Bons, the Cyber Capital CIO, recently took to Twitter to express his thoughts on BCH.

Bons emphasized that while he might no longer support BCH personally, his analysis is based on a “purely fundamental perspective.” In his tweet, he argued that BCH should be valued above Bitcoin (BTC) in terms of market capitalization. 

According to Bons, BCH aligns more closely with Bitcoin’s original vision, boasting enhanced functionality, capacity, and integrity. He further emphasized that BCH is a means to fix Bitcoin, as forking represents freedom.

The perceived underperformance of BCH, Bons claims, is a result of political factors rather than fundamental flaws. He argues that the absence of an “official” chain and the ticker’s determination by exchanges undermine the notion of objective truth. 

In contrast, Bons criticizes BTC’s block size limit and dictatorial governance, seeing BCH as an attempt to rectify these shortcomings while preserving other characteristics of Bitcoin.

Bons urges individuals to look beyond the noise and propaganda surrounding BCH. He encourages readers to familiarize themselves with the historical context and not be swayed by the negative narratives propagated by opponents. 

While acknowledging his shift towards supporting third and fourth-generation chains with proof-of-stake and on-chain governance, Bons still believes that BCH deserves attention.

Bitcoin Community Response: Acknowledging Lack Of Research

In response to Bons’ tweets, the community expressed agreement and admiration for his unique perspective. Bons responded to inquiries about his level of involvement, clarifying that he was an advocate for BCH, albeit no longer involved in technical contributions. 

He highlighted the importance of BCH’s existence in reminding us of Bitcoin’s troubled history and the dysfunction of BTC. Bons concludes by emphasizing that while he now favors proof-of-stake, he will always consider himself a Bitcoiner.

He agrees that it is time to let the old proof-of-work chains fade away and shift focus towards newer innovations, but he remains open to individuals finding financial sovereignty through BCH.

Nevertheless, Justin Bons’ perspective challenges the prevailing notions about Bitcoin Cash and sparks a debate on the future of cryptocurrencies, governance models, and the principles behind the technology.

Related Reading | AAVE Community Votes Overwhelmingly To Freeze TUSD Reserve On Aave V2 Ethereum

Bitcoin Cash (BCH) Price Surges In Anticipation Of ‘CashTokens’ Upgrade

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The prices of Bitcoin Cash (BCH) surged by up to 6% in anticipation of a major upgrade to its mainnet. This upgrade will enable developers to create tokens on the network and introduce other improvements.

According to Wu Blockchain, the upgrade’s primary addition is the CashTokens issuance token mechanism, similar to ERC20. The upcoming upgrade of the Bitcoin Cash network, set to take place on May 15, will allow for the creation of smart contracts that are “comparable to Ethereum” but significantly more efficient, as stated by Jason Dreyzehner, a developer of BCH.

As per the Network update Specification document, the Bitcoin Cash network will alter for its update on May 15. The activation of CHIP-2021-01 Restrict Transaction Version, CHIP-2021-01 Minimum Transaction Size, CHIP-2022-02 CashTokens, and CHIP-2022-05 P2SH32 are among the modifications.

Bitcoin Cash’s upcoming May hard fork aims to enhance the security and privacy of the network. Developers plan to introduce “CashTokens” through this upgrade, allowing decentralized applications to operate directly on the Bitcoin Cash platform.

Bitcoin Cash Upgrade To Bring Smaller Transactions And Smart Contracts For Applications

Additional suggested enhancements have already been confirmed, such as reducing transaction sizes, which can improve transaction speed, and introducing smart contracts functionality. This could enable the development of Bitcoin Cash-based applications that provide various services to users, such as recurring payments, derivatives trading, and crowdfunding opportunities.

This progress results from the increasing attention on tokens issued on Bitcoin. One example is the newly-launched ‘Bitcoin Request for Comment’ (BRC20) tokens.

With the introduction of these standards, developers can now create tokens and DeFi applications natively on Bitcoin. This has led to the creation of various digital artwork and meme tokens built on the Bitcoin network in recent weeks.

According to OrdSpace, a platform that monitors BRC-20 data, more than 11,000 tokens have been issued on the Bitcoin network. They are currently available for trading on the open market as of Monday. These tokens have a combined market capitalization of $500 million, lower than the $1.5 billion figure reported earlier this week.

Bitcoin Cash Market Movement

Bitcoin Cash (BCH) is attempting to break free from a bearish trend that has been suppressing its price for several months. The price of BCH has been showing signs of improvement lately, with a series of higher highs and higher lows being established since last November when it gained support from buyers around the $90.00 mark.

Currently, Bitcoin Cash (BCH) is consolidating near the demand zone, despite the efforts of sellers to push its price lower. BCH is trying to bounce back from the trend line at $120, which could indicate a bullish trend soon.

At the time of writing, Bitcoin Cash trades at $119.50, with a 24-hour trading volume of $128,078,209. In the last 24 hours, Bitcoin Cash has gained 5.42%. With a live market cap of $2,330,935,311

Related Reading: | Cardano Continues To Soar With Node Upgrade, Lace Improvements, & More |

Source: Tradingview.com

After Bitcoin, movie theater chain AMC to add ETH, LTC, and BCH

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Bitcoin [BTC] and other cryptocurrencies have been gaining the attention of the globe. The demand for these assets grew at a significant rate which further urged major platforms to accommodate crypto assets. Prominent financial firms, educational institutions, even governments have started to incorporate crypto into its system. With celebrities accepting payments in crypto, it was about time that crypto went to the cinema.

Back in August, the world’s largest movie theater chain, AMC Entertainment went on to reveal that it would soon start accepting Bitcoin [BTC] for payments. Now, further elevating its presence in the crypto-verse the American cinema operator announced the integration of a few other prominent assets like Ethereum [ETH], Litecoin [LTC] as well as Bitcoin Cash [BCH].

Payments in crypto have become quite popular these days. With digitalization taking over the world, almost every platform has been incorporating crypto particularly BTC as a method of payment.

Bitcoin Cash, Ethereum and Litecoin joins AMC

In a recent tweet, the CEO and Chairman of AMC, Adam Aron noted that along with Bitcoin, customers would be able to use other currencies for payments by the end of the year. The tweet read,

“Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin, and Bitcoin Cash.”

Previously, in August 2021 the CEO, during a conference call put forth his interest in crypto. During the call, Aron noted that the American cinema operator was formulating an infrastructure specifically to accommodate BTC.

The entire world was disrupted by the emergence of the COVID-19 pandemic. While things have slowly started to fall into place, cinemas have started to fill up. The inclusion of crypto into the system could pose beneficial for AMC as well as the crypto industry. Additionally, the world’s largest cinema chain had also hinted that it would soon expand across the United States, Middle East, and Europe as well.

Apart from AMC, the largest cinema chain in Thailand had also added BTC as its payment method.

Bitcoin Cash [BCH] stands near tactically important $700; poised to advance further

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After resuming a weekend rally, top cryptocurrencies along with Bitcoin Cash [BCH] noted a minor slump which resulted in a weekly loss of 3.55%. The volatility in the market has been steady that orchestrated the crypto-assets uptrend over the past several weeks.

Unlike its peers, BCH hasn’t been able to post an impressive rally as every spike was met with selling pressure, pressing the coin down despite highlighting two prominent positive days. It is yet to reclaim the level last seen in May.

Over the past 24-hours, Bitcoin Cash [BCH] was down by 3.29% which drove the price to $675.38. At the time of writing, the digital asset registered a market cap of $12.77 billion and a 24-hour trading volume of $2.81 billion.

Bitcoin Cash [BCH] Daily Price Chart:

The volume has been moderate and has been struggling to back the price of the BCH token. The uptrend, however, pushed the moving averages below the candlesticks. The 200 DMA [Yellow] gave stiff competition to BCH price candles after falling below them, the 50 DMA [Pink] and the 100 DMA [Blue] appeared to be heading for a bearish crossover in the coming days which, if materialized, would help the crypto-asset to gain much-needed traction and mount higher.

Despite hitting a slump, the capital inflow into the BCH market was still intact as shown by the Chaikin Money Flow [CMF] was continued to rise above the half-line. The gradually decreasing red closing bars of Awesome Oscillator [AO] indicated a weak bearish momentum in the market. The Relative Strength Index [RSI] has managed to stay above the 50-median line even after subsequent pullbacks, that depicted buyers have an upper hand which could be a catalyst for a resumption of the developing rally.

To aim for yearly highs, Bitcoin Cash needs to break above $723-level. The next level of resistance stood at $1,100 and $1,547. The support levels, on the other hand, stood firm at $527, $441, and $379 respectively.

Bitcoin Cash [BCH] Steps Into May With Significant Gains

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The month of May started off on a good note for several coins including, Ethereum [ETH], Bitcoin Cash [BCH], and several others. The altcoin market emerged in terms of both price as well as market cap. The overall market cap of the crypto-verse rose to $2.21 trillion with the altcoins accounting for most of it.

With a 24-hour price rise of 9.49%, Bitcoin Cash [BCH] was right behind Dogecoin [DOGE] in bagging daily profits. The altcoin was trying to surge past $1K, however, a prominent line of support was still in the making as it kept slipping back below its milestone. BCH, during the time of writing, was trading for $1,009. Over the last seven days, the altcoin scored gains of over 29%.

While several coins like Litecoin [LTC] and Chainlink [LINK] failed to stay in the top ten, BCH managed to retain itself as the tenth-largest cryptocurrency. The altcoin’s market cap was noted at $18.73 billion, quite close to that of Litecoin’s.

Bitcoin Cash [BCH] One-Hour Price Chart On Coinbase

Bitcoin Cash

The bears were noticed hibernating in the short-term price chart of BCH. While the Bollinger Bands indicator affirmed limited volatility as the bands were converging, the Awesome Oscillator indicator suggested that this was for the best. The Awesome Oscillator indicator laid out red closing bars insinuating the presence of the bears. The Money Flow Index indicator noted a buyers’ sentiment as the marker was over the 50 median.

Bitcoin Cash [BCH] One-Day Price Chart On Coinbase

Bitcon Cash

Contrasting sentiments were observed in the short and long-term charts of BCH. The one-day price chart of BCH was welcoming the bulls. The MACD indicator was heading in for a bullish crossover as the MACD line was sluggishly trying to rise over the signal line. The Chaikin Money Flow indicator was seen dwelling in the bullish arena over zero median. The Relative Strength Index indicator suggetsed that the altcoin could have been moving towards the overbought zone.

Roger Ver And Jesse Powell Bid Adieu To Market Manipulation Suit

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Roger Ver aka Bitcoin Jesus, the founder of the prominent cryptocurrency exchange Bitcoin.com along with Jesse Powell, the CEO of Kraken with a few others had recently filed a motion seeking the dismissal of a market manipulation suit that they were hit with back in 2018.

The CEO of Bitmain, Jihan Wu, Bitcoin Cash developers Shammah Chancellor and Jason Cox as well as Powell and Roger Ver was accused of manipulating the market just before the network-wide upgrade of Bitcoin Cash. While this complaint was filed by the United American Corp [UAC] in 2018, an amended version of the complaint was recently updated. However, this lawsuit did not stand in court as it was dismissed citing lack of evidence.

Roger Ver Tackles Lawsuit

UAC’s initial complaint did not make it following lack of personal jurisdiction as well as failure to state a claim. However, the court suggested that UAC could present an amended version for the case to prolong. While the crypto platform went on to do so as advised, UAC alleged that the accused had employed mercenary mining power to surge the hashing power of the crypto exchange, Bitcoin.com.

To this amended lawsuit, Chris McAliley, the U.S. Magistrate Judge of the Southern District of Florida decided to incline towards dismissing the complaint based on the lack of evidence provided with respect to the case. McAliley added,

“The Court considers first whether the Complaint satisfies the pleading requirements of the first element, conspiracy. It does not. As noted, the Complaint must state facts — not conclusions — that plausibly suggest a conspiracy.”

The Judge, after evaluating the circumstantial evidence provided by the plaintiffs revealed, “the court concludes that it lacks facts that create a reasonable expectation that discovery will reveal evidence of illegal agreement.”

Several members of the community were happy about this news and were seen congratulating Roger Ver as well as Jesse Powell for their latest victory.

Bitcoin Cash Processes 50K More Transactions Than Bitcoin

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Bitcoin [BTC] and its fork versions have always managed to make headlines. One of its many iterations was Bitcoin Cash [BCH] that has able to claim one of the top spots on the leaderboard.

In the recent development, Bitcoin Cash surpassed its big brother in terms of transaction figures. With this, BCH established a “new economic record” by processing 340,106 transactions on the 7th of March, while Bitcoin’s figures stood at 281,065 on the same day.

In short, Bitcoin Cash processed nearly 60,000 more transactions than Bitcoin on that day. However, it was not until January 2021, when BCH witnessed a sudden jump in the transaction numbers.

Following this stint, BCH figures maintained a steady uptrend and climbed that of BTC’s in March. According to the latest data compiled by BitInfoCharts, this is the first time that Bitcoin Cash’s surge has been consistent.

Zooming out, prior to this, the fork coin had only five other times when transaction figures surpassed that of Bitcoin and all the instances were abrupt spikes and equally abrupt declines.

Bitcoin’s transaction fee has also receded from the recently established ATHs. Previously, the daily BTC transaction fee was fluctuating between $24 and $31. Lately, the transaction fee figures have slowed down potentially signifying that the current bull season has hit a pause.

Besides, Bitcoin Cash’s transaction fee also saw an equally pronounced dip.

Despite fresh challenges over the past few years and emergence of several copycat tokens, Bitcoin [BTC] has reigned as the leader of cryptocurrencies and the market continued to see its rising dominance. Bitcoin Cash [BCH], on the other hand, suffered a significant decline as the crypto-asset was pushed out of the top 10 coins by market cap.

On the price side, Bitcoin finally closed above the crucial resistance level of $50k after a week of sluggish price action. Its fork iteration reclaimed $506-level after a minor market-wide recovery as the new week dawned.

Google Finance Adds ‘Crypto’ Tab featuring Bitcoin, Litecoin, Ethereum, Bitcoin Cash

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Times are definitely changing for Bitcoin and the crypto industry as the bull market continued to heat up.

Crypto has been in the limelight for quite some time. But thanks to the massive institutional capital, the space has finally received the much-needed legitimacy. In the latest development, Google Finance has added a crypto-dedicated field.

Google Finance is essentially a data site maintained by the tech giant, hence this development is crucial for the digital currency ecosystem. This was first reported by ‘Documenting Bitcoin’ which also revealed that the ‘crypto’ is placed right at the top of the page among five default markets such as the US, Europe, Asia, and Currencies.

Here, the users of the platform can compare the aforementioned markets. The tool offers a rundown of real-time as well as historical data for Bitcoin [BTC], Ether [ETH], Litecoin [LTC] and Bitcoin Cash [BCH] with just a click.

However, the information for other top cryptocurrencies such as Cardano [ADA], XRP, Binance Coin [BNB], Polkadot [DOT] was not available yet on Google Finance’s website.

The latest move by the website which focuses on business news and financial information hosted by Google is no less than a milestone. It is indicative of the industry’s growing mainstream presence and demand for the latest information on the top coins in the market.

Crypto has come a long way

The industry has now entered mainstream usage. It is important to note that Google’s parent, Alphabet, owns one of the world’s most famous platform YouTube.

This video streaming platform had previously come under severe criticisms for banning virtual currency-focussed educational and news content. Several channels of prominent news platforms have been subjected to suspensions that have subsequently.

However, Google Finance’s move to enable users track the performance of various cryptocurrencies is a positive step as the asset class continued to witness massive investments from big institutional players and corporations.

Bitcoin Cash [BCH] Aims For $800 As Bulls Promise Assistance

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The entire crypto-verse was beaming in joy after the industry hit a high of $1.71 trillion. Bitcoin Cash (BCH) had recorded an immaculate growth over the last couple of days. BCH wasn’t the only asset that experienced such a surge as an array of assets like Ethereum (ETH), Binance Coin (BNB) stole the show. BNB climbed on to a third-place with its market cap hitting a high of $30 billion. This was great for the crypto industry as it seems to be making its way to $2 trillion. With Bitcoin accounting for $1 trillion, the total crypto market cap stood at $1.71 trillion, during press time. While all the other prominent coins took a step down, BCH retained its position in the top ten.


Bitcoin cash was quite far away from its all-time high of $2,979. Nevertheless, the asset was trying to make its way to $1K. The recent crypto rally proved to be extremely beneficial for almost all the assets, BCH was undoubtedly a member of this list. At the time of writing, BCH was trading for $734 with a 2% rise in the last 24-hours. Throughout the week, BCH managed to score gains up to 25%.

Bitcoin Cash [BCH] One-Hour Price Chart

Bitcoin Cash

The short-term price chart of BCH revealed that the bulls and the bears were putting up a fight in the market. The Parabolic SAR indicator laid down a line of support below the candlesticks, hindering any potential downfall. The Awesome Oscillator indicator formed red closing bars affirming the presence of the bears. The trading activity in the BCH market was neutral, however a buyers’ sentiment was noted.

Bitcoin Cash [BCH] One-Hour Price Chart

The Bollinger Bands indicator used in the one-day price chart of BCH suggested that the asset was in for an increase in volatility. The MACD indicator formed a bullish crossover and suggested that an increase in the altcoin’s volatility could push its price over $800. The Klinger Oscillator followed the footsteps of the MACD indicator and inclined towards the bulls.

All this bullish sentiment in the BCH market could push the altcoin to a new yearly high.