Bitcoin Cash Price Skyrockets 100% in a Week: Analyzing the Catalysts Behind the Surge
The market is enjoying a bullish period that over the last 7 days has seen the total market cap grow by $60 billion. The green period has come unexpectedly right off the back of a bearish period following the SEC lawsuits against exchanges Coinbase and Binance.
Many tokens have seen significant growth thanks to this bull run but the best-performing of all is Bitcoin Cash (BCH) which skyrocketed by 100% over a week. At the time of writing, the pump has leveled out a little bit and the price seems to be hovering around $230.
However, with all the good news surrounding Bitcoin it is not ridiculous to think it could take off again at any moment.
For some this pump might have been surprising so let's take a look at some of the factors that caused it.
Bitcoin Cash Capitalizing on Sharks Entering The MarketBelow is the 7-day price history for Bitcoin Cash (BCH). An incredible run, but many are wondering where it has come from. Bitcoin has been performing well too, finally breaking $30k and obviously the two are closely linked so what drives one will always likely have the same effect on the other.
Initially, the driving factor was the SEC lawsuit against Coinbase and Binance. The lawsuit mentioned a lot of major altcoins as securities so their price tanked and investors turned towards Bitcoin and Bitcoin cash.
It is the chain reaction of these lawsuits however that really caused the price to pump 100%. Soon after the announcement from the SEC, one of the world's largest asset managers in the world, BlackRock, officially filed for a spot Bitcoin Exchange-traded fund (ETF) with the SEC.
This, in layman's terms, means they are taking their first steps into the digital currency trading world.
The endpoint would be that investors would be able to access their crypto via the Wall Street firm and since the announcement others have followed suit including Deutsche Bank in the German market.
The SEC has previously rejected these kinds of applications but is likely to yield now a group the size of BlackRock has entered the market and others have begun to follow suit.
As Bitcoin is the most widely accepted and legitimized crypto the price of its token and Bitcoin Cash of course saw a pumping. BCH has stalled a little but we think more green days are in its future. While the market is green, it can be a great time to invest in some new crypto.
Let's take a look at the two best options from the presale market now.
Wall Street Memes - The Hottest Meme Coin Right NowThe presale of Wall Street Memes ($WSM) has just broken $11 million, and the hype train is only speeding up. Looking for the best crypto presales is always going to be a good tactic during a bullish market and your search will likely bring to this meme coins presale.
The propaganda surrounding coin all comes from their huge online following that they are bringing to the crypto world. They have over 1 million followers across their social media following which includes prominent followers on Twitter like crypto YouTuber Cameron Fous.
The owner and most followed account on Twitter Elon Musk, has also interacted with the account and is a fan of their humor. This kind of reach for a meme coin gives them unlimited potential.
This huge following has likely caused the presale to be a huge success so far and its virality will make it a threat to every other meme coin once it is launched. However, the good press doesn't stop there as even AI seems to be a fan of the meme coin.
Google's new AI chatbot Bard, has been taken over from ChatGPT as crypto users number one tool for making predictions of the market's future. This is mostly because unlike its predecessor Bard has no limitations when asked for crypto predictions.
When asked about the price possibilities for $WSM Bard predicted that the meme coin could pump by as much by 352% from the price it began its presale at. That price isn't available anymore of course but it would still mean significant gains once the coin reaches its listings. Find out how to by Wall Street Memes here.
>>>Visit Wall Street Memes Presale
Chimpzee - The Eco-Warrior Coin Allows You To Earn RewardsThe market is slowly and surely realizing the need for green tokens. Whether it is impending regulation or simply a moral compass one way another the industry will end up going more green in the future.
Coins like Chimpzee (CHIMPZ) are ahead of the curve in that regard. 10% of the token supply and a share of the profits will be going to fight for environmental causes like rain forest conservation and protecting endangered animals.
It is a platform that will give its investors a huge selection of ways to earn a passive income as the ecosystem is packed with innovation. Shop2Earn, Trade2Earn, and Play2Earn are all options when you use Chimpzee.
We like the fact that it is the first NFT marketplace that will give a share of each trade to its coin holders. This of course will encourage more trading but there is another very smart part to this. Chimpanzee passports will give users a chance to make more earnings but it is the diamond one in particular that all users will want.
These will only be available to users that purchase CHIMPZ during the first 6 stages and after that will need to be bought off holders on the marketplace.
This will create buzz and increase the rate of trading as well. The presale benefits don't end there either as users can get up to 100% in bonuses if they purchase CHIMPZ early enough.
The flagship currency finally broke 30k and Bitcoin cash is the best-performing crypto over the last week. It is likely that this isn't the end of the good news for either currency but it is possible the biggest growth spurt is over.
Turning to presales, Wall Street Memes and Chimpzee might be the two most exciting coins we have seen in a while and represent great options to pump soon.
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