Bitcoin Cash rises 100% in a week after Wall Street crypto platform listing

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Last Updated on 6 November 2023 by CryptoTips.eu

If you think last week’s rise of Bitcoin and Ethereum was impressive, take a look at Bitcoin Cash. After the news that EDX Markets, the new crypto platform launched by some of Wall Street’s financial luminaries, was offering Bitcoin Cash for sale to institutional investors, the price of this digital currency doubled in a matter of days.

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Hard fork

Bitcoin Cash was born in 2017, due to a feud within the Bitcoin community. There were two groups at that time, each of which had a different idea about the development of the largest digital currency. Bitcoin continued as Bitcoin and Bitcoin Cash was born through a hard fork. Ever since that day, a separate ledger has been maintained for Bitcoin Cash.

A year later, there was another quarrel within the group of Bitcoin developers and Bitcoin SV (Satoshi’s Vision) was born in the same way, again through a hard fork.

Bitcoin SV has been led by Australian computer scientist and self-proclaimed Bitcoin creator Craig Wright ever since.

20 June

A week ago, on June 20 to be precise, three Wall Street financial giants launched a crypto platform. They were Fidelity, Charles Schwab and Citadel Securities and the new platform was called EDX Markets. With only 4 cryptocurrencies (Bitcoin, Ethereum, Litecoin and Bitcoin Cash) it seemed like nothing compared to Binance and Coinbase, but thanks to their abundance of institutional clients, the three companies were able to move the market in a big way.

The announcement that Blackrock, the largest investment fund in the world, would start a Bitcoin ETF was also very positive.

Since then, Litecoin, Bitcoin Cash, Bitcoin and Ethereum have all risen, but none have outperformed Bitcoin Cash. In the past week alone, Bitcoin Cash surged 108% higher, re-entering CoinMarketCap’s top 20 ranking in the process.

inueng / Depositphotos.com

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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