Why has BCH soared recently? In simple terms, there are a few reasons:
1. Large institutions entering the market —— Grayscale Fund added BCH to its investment portfolio at the end of May, bringing in more than $300 million in buying pressure, and big funds started stockpiling.
2. Technical upgrades —— At the beginning of June, network security issues were resolved, miners' transaction fees increased several times, and on-chain transaction volume surged by 400%.
3. Regulatory relaxation —— The U.S. clarified that BCH is not a security, and the probability of spot ETF approval has greatly increased, making institutions more willing to participate.
4. Price breakthrough —— In June, it broke through a key resistance level, triggering a short squeeze of $180 million, and quantitative funds went on a buying spree.
5. Real applications —— PayPal and the Bank of Thailand have both integrated BCH payments, leading to a surge in demand from merchants and cross-border settlements. This rise is backed by real capital, not speculative trading, and there may still be a push in the short term.
Old Jiu had already reminded everyone in an article that BCH is a strong coin, and paying attention to BCH could lead to significant movements, and here it is. Recently, Old Jiu also guided internal fans to enter for a short-term play, and today it directly made it to the top three in the gainers list, to be honest, it’s pretty impressive.
Continuing to look for opportunities in other coins during the day.
