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Bitcoin Cash increases 15% and quadruples its trading volum


Another Hard Fork from Bitcoin Cash is scheduled for November 15th. Apparently in anticipation of this, Bitcoin Cash (BCH) has gained a further 15 percent. At the time of going to press, Bitcoin Cash stood at $ 546 per coin.

Crypto-Coinbase wrote about the upcoming Hard Fork:

“Twice a year, a hard fork for Bitcoin Cash (BCH) occurs as part of the periodic log refresh. The next Hard Fork for Bitcoin Cash is scheduled for November 15, 2018. Coinbase has already embarked on implementing the roadmap published on bitcoincash.org. “

Also, the crypto-exchange Binance has announced that it will support Bitcoin Cash's Hard Fork.

Within three days, Bitcoin Cash has risen from $ 477 to $ 546 per coin. At the same time, the trading volume has quadrupled during this time. On November 1, the volume was under $ 200 million and has since grown to $ 980 million.

Explosive increase in volume and course

The trading volume shows a similar increase to that of Ripple XRP. This had suddenly tripled in mid-October, after the company Ripple had announced a partnership with a major bank. Since then, however, the volume has declined again.

Investors are currently buying as much Bitcoin cash as possible to benefit from the upcoming fork. On November 15th, nChain, led by controversial Craig Wright, wants to split Bitcoin Cash into two chains. The owners of Bitcoin Cash will then receive an equivalent amount of the newly split token.

Most of Bitcoin Cash's trading volume currently comes from pure crypto exchanges, such as OKEx, Binance and Huobi. It is therefore likely that especially professional traders Bitcoin Cash buy because of the upcoming Hard Fork.

rest of the market stagnates

In addition to Bitcoin Cash, most of the larger cryptocurrencies have seen smaller gains in recent days. The same applies to coins with a lower market capitalization. Cardano, Stellar, Ontology and Tron posted gains of between two and five percent.

The Brave Attention Token (BAT), the native token of the Brave browser, has dropped after its listing on Coinbase. In the last 24 hours before the editorial deadline, the BAT coin fell by 1.5 percent. Trading volume was also relatively low at $ 18 million.

Bitcoin (BTC) and Ethereum (ETH) have been stable over the past two days. Bitcoin traded around $ 6,350, while Ethereum was around $ 200. There is currently no reason to expect a large upswing as trading volumes are too low. However, the situation could change with their increase.

Sources: Coinbase, bitcoincash.org, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-cash-steigen-um-15-und-verfierfacht-sein-handelsvolumen/

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