Bitcoin Cash has nearly doubled in 24 hours as it jumps from under $2500 USD per coin to $4000 USD.
The current prices are
- BTC: $16708.03
- BCH: $3810.31
- ETH: $797.41
Just after hitting $4k the price has corrected itself between $3800 and $3900. The spike in the currency comes from news that Coinbase allowing trading of Bitcoin Cash. Coinbase is one of the largest exchanges and for the longest time didn't support Bitcoin Cash. Remember Coinbase initially said they wouldn't support Bitcoin Cash after the fork on August 1st, 2017 which resulted in significant backlash and users emptying their Coinbase accounts. It only took a few days for Coinbase to change their stance knowing this would be the death of their company if they didn't support it while most other companies have.
Insider trading probe at Coinbase
So this time around, spike in Bitcoin Cash comes as Coinbase announced they are allowing trading of Bitcoin Cash which has sent the price of Bitcoin down a few thousand and BCH nearly doubling. Coinbase has recently suspended trading involving Bitcoin Cash as it suspects insider trading has been going on.
You can read more about the insider trading probe here.
Bitcoin Cash 2018 Predictions Updated
Bitcoin Cash was recently listed as having a future value in the $7000 USD range by end of 2018 at Longforecast.com. Since the price has changed, the prediction at longforecast.com has as well jumping $14578 USD by Dec 2018.
Bitcoin Cash biggest performer in 2017
Up until the spike in price, Bitcoin was the major story in 2017 going from $1k to $19k over the year but now Bitcoin is now over $16k while Bitcoin Cash started in the $300 and was in the $350 range in September before it took off to over $1500 USD. Now hitting the $4k range so soon makes it the biggest gain so those that bought more Bitcoin Cash are happy while others that offloaded it for more Bitcoin are feeling the pain. Without a doubt, the price change is due to Coinbase offering trading of Bitcoin Cash and it could be expected to grow further as more people start to look at what is Bitcoin Cash and why it is better than Bitcoin itself.