Bitcoin Cash pumps 14 percent to reach six-month high

Bitcoin fork BCH continues its upward ascent today, gaining more than $100 on its price (48 percent spike) in just one week.

2 min read

Jan 17, 2020

Bitcoin Cash (BCH), the fourth-largest cryptocurrency by market cap, is up by nearly 14 percent over the past 24 hours and currently trading for approximately $370 per coin.

That means that the cryptocurrency, a fork of the original Bitcoin, is now up by more than $100 over the past week, trading for close to $250 per coin as recently as last Friday. It’s current price of $364 marks a six-month high—in July 2019, BCH reached $388 per coin.

One possible reason behind Bitcoin Cash’s sudden surge could be the newfound attention it’s getting on Twitter and social media. According to digital analytics site TheTIE.io, interest in altcoins is at an all-time high among social-media users.

In a statement to Forbes, TheTIE.io co-founder Joshua Frank explained: “BCH, BSV, ETC and DASH have all hit their highest tweet volumes since last summer. Bitcoin Cash, for example, exceeded 2,000 daily tweets on January 13 for only the second time since December 2018.”

The market appears to be responding to the attention, as many of the top 20 cryptocurrencies by market cap have seen sizable gains today. Ethereum (ETH), for example, is now up 4 percent and trading for $171 per token. Ripple’s XRP is also up around 4 percent today.

The odd one out of today’s surge is fellow Bitcoin fork, BSV. The coin, which previously saw massive gains this week, is down nearly 11 percent and trading at $283 per coin.

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