Bitcoin Cash Grows By 50% Amid the Asian Hype

Another large-scale price spike on the cryptocurrency market over the past day has led to another hype wave. Bitcoin is on its way to fix a new psychological height of $5,000. While observing the TOP-10, the growth of Bitcoin Cash (BCH) is especially worth noting — it showed a growth of almost 50% over the last week.

Currently, Bitcoin Cash is trading at $253, according to CoinMarketCap, while reaching a total market capitalization of $4.48 bln. In the cryptocurrency ranking BCH again overtakes Binance Coin (BNB) and ranks sixth. At the same time, extremely inconsistent data comes from exchanges: the price of BCH in certain peak periods reached $1,000 per unit on different platforms.

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Earlier, Roger VER emphasized that the reasons for BCH growth might be the news of its large-scale adoption in Japan, where interest in Bitcoin Cash is higher than in BTC. At the same time, other sources report that a spike in trading in Asia could have been caused by an automated software that was set up to trade $100 mln on three exchanges at once.

Image courtesy of Smartereum