London Stock Exchange Has Bitcoin Cash (BCH) Shoots Above $ 1,500
As it is Known Bitcoin Cash (BCH) is not for the faint-hearted – the coin is continuously attacked, but in some cases gives attractive results, growing strongly. Once more, BCH reached more than $ 1,500, adding another 11% per night. The volume of trading increased to $ 1.3 billion.
The instant cause of the last spike is the addition of BCH to the London Block Exchange, which again makes another fiat on-ramp. Although it is possible to get back BCH directly for cash, most of its pricing is formed both in Asian markets and on leading Korean exchanges.
The London Block Exchange proposes OTC trading functionalities in its application, thereby developing a simpler approach to moving between fiat and crypto coins. In fact OTC trading is seen as an alternative option to centralized exchanges and portfolio of orders, but remains more risky. So far, the British Pound possessors had little opportunity to pay directly for cryptocurrency.
And whereas BCH is accepted with criticism for the relatively low number of transactions – even lower than Litecoin (LTC) or Dogecoin (DOGE), the network remains low-fee. According to Coindance statistics Bitcoin transactions cost 19 times more than BCH transactions.
There is also observed Bitcoin Cash network very gradual climb of hashing power. From the fall of last year, the hashing power has grown four times. The reason for this is that a few reliable pools support the network. For other miners, BCH is not as profitable to mine as BTC. Additionally, the depressed price of BCH in the past months has discouraged miners.
A price of $3,000 for BCH is seen as a realistic target with a renovated bull run.