{"id":549378,"date":"2023-08-30T08:32:31","date_gmt":"2023-08-30T08:32:31","guid":{"rendered":"https:\/\/ktsl888.com\/?p=549378"},"modified":"2023-08-30T08:34:25","modified_gmt":"2023-08-30T08:34:25","slug":"bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\/","title":{"rendered":"Bitcoin Cash (BCH) Records Surprising 15% Rally &#8211; What&#8217;s Behind It?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Bitcoin Cash (BCH) and several prominent altcoins are experiencing an upward trajectory in their trading prices, attributed to a recent report indicating a favorable ruling by the US federal appeals court.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The court&#8217;s decision suggests that the US Securities and Exchange Commission (SEC) erred in its rejection of Grayscale&#8217;s application for a spot bitcoin exchange-traded fund (ETF).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This development has once again underscored the impact of positive regulatory news on the sentiment and valuation of the cryptocurrency market.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/crypto-currents-can-whale-investors-bring-pepe-back-in-action\/\" target=\"_blank\" rel=\"noopener \">Crypto Currents: Can Whale Investors Bring PEPE Back In Action?<\/a><\/div>\n<h2><strong>Regulatory Reassurance Boosts BCH, Overall Market Confidence<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The crypto market has long been susceptible to fluctuations driven by regulatory uncertainty. However, instances of regulatory clarity, such as the <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-29\/us-court-paves-way-for-first-bitcoin-etf-in-grayscale-ruling\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">latest ruling<\/span><\/a><span style=\"font-weight: 400\"> regarding Grayscale&#8217;s ETF application, have repeatedly shown their potential to galvanize positive sentiment among investors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The maturation and legitimacy that regulatory approvals signify are often interpreted as promising indicators for the industry&#8217;s future growth. This enhanced sentiment invariably piques interest not only in Bitcoin but also in various alternative cryptocurrencies, including Bitcoin Cash.<\/span><\/p>\n<h2><strong>Bitcoin Cash Seizes The Momentum<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">With Bitcoin Cash exhibiting a robust price rally, the digital asset&#8217;s value soared to $217, as reported by <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin-cash\" rel=\"nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">. Over the span of 24 hours, the coin witnessed an impressive surge of 14.8%, which further expanded to 16% over the course of the past week.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-549381\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-175.png?resize=1024%2C53\" alt=\"\" width=\"1024\" height=\"53\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-175.png?w=1129 1129w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-175.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-175.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-175.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-175.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">BCH price action today. Source: <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Coingecko<\/a><\/pre>\n<p><span style=\"font-weight: 400\">The remarkable gains can be largely attributed to the positive ripple effect generated by the Grayscale-SEC ruling, which has reverberated across the entire cryptocurrency landscape.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/kS9KidlE\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">BCH market cap at $4.2 billion today. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h3><strong>The Bitcoin Effect On Altcoins<\/strong><\/h3>\n<p><span style=\"font-weight: 400\">Bitcoin, as the vanguard of cryptocurrencies, continues to wield substantial influence over the market. The surge in its price to $27,456\u2014an increase of more than 5% within a single day\u2014epitomizes the profound impact of Grayscale&#8217;s triumph over the SEC. <\/span><\/p>\n<p><span style=\"font-weight: 400\">What makes this rally even more intriguing is its <\/span><a href=\"https:\/\/www.benzinga.com\/news\/23\/08\/34099149\/why-bitcoin-cash-bch-is-popping-off\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">domino effect on altcoins like Bitcoin Cash<\/span><\/a><span style=\"font-weight: 400\">. As investors seek to diversify their portfolios, they inevitably explore alternative cryptocurrencies to maximize their potential gains. This trend has triggered a surge in interest and investment in altcoins, propelling them to new heights.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/matic-social-sentiment-slides-to-negative-territory-is-the-tokens-price-in-trouble\/\" target=\"_blank\" rel=\"noopener \">MATIC Social Sentiment Slides To Negative Territory \u2013 What\u2019s The Impact On Price?<\/a><\/div>\n<p><span style=\"font-weight: 400\">The collective effect of these developments is evident in the substantial growth of the <\/span><a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">total crypto market capitalization<\/span><\/a><span style=\"font-weight: 400\">. A surge of nearly $50 billion underscores the immediate impact of regulatory advancements on the market&#8217;s valuation. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The fact that some of the most significant gains were recorded by cryptocurrencies closely linked to Bitcoin reinforces the notion that regulatory wins and leading cryptocurrency performance are intertwined in a symbiotic relationship.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from Getty Images<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin Cash (BCH) and several prominent altcoins are experiencing an upward trajectory in their trading prices, attributed to a recent report indicating a favorable ruling by the US federal appeals court.\u00a0 The court&#8217;s decision suggests that the US Securities and Exchange Commission (SEC) erred in its rejection of Grayscale&#8217;s application for a spot bitcoin exchange-traded fund (ETF).\u00a0 This development has once again underscored the impact of positive regulatory news on the sentiment and valuation of the cryptocurrency market. Related Reading: Crypto Currents: Can Whale Investors Bring PEPE Back In Action? Regulatory Reassurance Boosts BCH, Overall Market Confidence The crypto market has long been susceptible to fluctuations driven by regulatory uncertainty. However, instances of regulatory clarity, such as the latest ruling regarding Grayscale&#8217;s ETF application, have repeatedly shown their potential to galvanize positive sentiment among investors.\u00a0 The maturation and legitimacy that regulatory approvals signify are often interpreted as promising indicators for the industry&#8217;s future growth. This enhanced sentiment invariably piques interest not only in Bitcoin but also in various alternative cryptocurrencies, including Bitcoin Cash. Bitcoin Cash Seizes The Momentum With Bitcoin Cash exhibiting a robust price rally, the digital asset&#8217;s value soared to $217, as reported by CoinGecko. Over the span of 24 hours, the coin witnessed an impressive surge of 14.8%, which further expanded to 16% over the course of the past week. BCH price action today. Source: Coingecko The remarkable gains can be largely attributed to the positive ripple effect generated by the Grayscale-SEC ruling, which has reverberated across the entire cryptocurrency landscape. BCH market cap at $4.2 billion today. Chart: TradingView.com The Bitcoin Effect On Altcoins Bitcoin, as the vanguard of cryptocurrencies, continues to wield substantial influence over the market. The surge in its price to $27,456\u2014an increase of more than 5% within a single day\u2014epitomizes the profound impact of Grayscale&#8217;s triumph over the SEC. What makes this rally even more intriguing is its domino effect on altcoins like Bitcoin Cash. As investors seek to diversify their portfolios, they inevitably explore alternative cryptocurrencies to maximize their potential gains. This trend has triggered a surge in interest and investment in altcoins, propelling them to new heights. Related Reading: MATIC Social Sentiment Slides To Negative Territory \u2013 What\u2019s The Impact On Price? The collective effect of these developments is evident in the substantial growth of the total crypto market capitalization. A surge of nearly $50 billion underscores the immediate impact of regulatory advancements on the market&#8217;s valuation. The fact that some of the most significant gains were recorded by cryptocurrencies closely linked to Bitcoin reinforces the notion that regulatory wins and leading cryptocurrency performance are intertwined in a symbiotic relationship. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Getty Images<\/p>\n","protected":false},"author":557,"featured_media":549384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,16806,10736,1144,8686,4735],"class_list":["post-549378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bch-price","tag-bitcoin-cash","tag-btcusd","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\n<title>Bitcoin Cash Records Surprising 20% Rally - What&#039;s Behind It?<\/title>\n<meta name=\"description\" content=\"Bitcoin Cash (BCH) and several prominent altcoins are experiencing an upward trajectory in their trading prices, attributed to a recent report indicating\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Cash Records Surprising 20% Rally - What&#039;s Behind It?\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Cash (BCH) and several prominent altcoins are experiencing an upward trajectory in their trading prices, attributed to a recent report indicating\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-30T08:32:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-30T08:34:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-176.png\" \/>\n\t<meta property=\"og:image:width\" content=\"536\" \/>\n\t<meta property=\"og:image:height\" content=\"295\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Bitcoin Cash (BCH) Records Surprising 15% Rally &#8211; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Cash (BCH) Records Surprising 15% Rally &#8211; What&#8217;s Behind It?","url":"http:\/\/ktsl888.com\/news\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-176.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-176.png?fit=536%2C295"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","bch price","bitcoin cash","btcusd","ethusd","price action"],"dateCreated":"2023-08-30T08:32:31Z","datePublished":"2023-08-30T08:32:31Z","dateModified":"2023-08-30T08:34:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Cash (BCH) Records Surprising 15% Rally &#8211; What&#8217;s Behind It?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-cash-bch-records-surprising-20-rally-whats-behind-it\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-176.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-176.png?fit=536%2C295\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"bch price\",\"bitcoin cash\",\"btcusd\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-08-30T08:32:31Z\",\"datePublished\":\"2023-08-30T08:32:31Z\",\"dateModified\":\"2023-08-30T08:34:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/a-176.png?fit=536%2C295","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/549378"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=549378"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/549378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/549384"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=549378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=549378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=549378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}