Home » , » Due To Bitmain, The BCH Price Increases

Due To Bitmain, The BCH Price Increases

Written By Hanny & Melissa on Tuesday, April 02, 2019 | Tuesday, April 02, 2019

"Bitmain" is a crypto coin that seems to react positively to the offer of the Initial Public Offer from Bitmain with its value gradually increasing rapidly.

This Bitcoin fork has been successfully traded at the current price of $ 562 and its market capitalization reaches $ 9 billion, placing it in the 4th rank of 1800 crypto currencies circulating according to the coinmarketcap.

At present, Bitcoin Cash is at its highest price so far this week while its increase may strengthen as market sentiment. This crypto coin has proven a potential long-term break from the range below $ 520 when we entered the Q4 prospectus.

However, Bitcoin Cash has not been stable in its new price range in accordance with the trends recorded today. It went as high as $ 560 and traded for $ 520. This shows that the crypto market did not get rid of its highly speculative nature in an unregulated ecosystem.

Bitmain Offer IPO

Cryptocurrency analysts have linked BCH price action with Bitmain's IPO which shows that this will automatically provide better prospects for the Bitcoin Cash project.

An eToro senior market analyst, dead Greenspan, was quoted as supporting this sentimentThis surge must have been caused by Bitmain's IPO submission ".

CoinDesk reports that a cryptocurrency-oriented mining company has begun the process of submitting a prospectus on September 26. Which means that if this is successful, Bitmain will issue an IPO for investor funds to support blockchain & crypto mining activities.

In addition, Bitmain's books are impressive, the company reported net profit of $ 700 million in the first half of 2018 according to MarketWatch. Basically this is Bitmain's profit increasing by 800% when compared to statistics in 2017.

In their submission, Bitmain also showed an increase in their value as a company that recorded revenues of up to $ 2.8 billion today, which is almost ten times that of 2017.

BCH Enter Market Gemini Exchange

the prospect of Bitcoin Cash (BCH) is getting better every day since this week began. This coin will soon be integrated into the Gemini Exchange, where this exchange is known as the popular coin trading platform in the crypto space today. According to a tweet by Gemini Trust, BCH is regulated in the regulatory section & only the launch date still needs to be awaited.

We announced during the Litecoin summit that we will launch LTC support on October 13. We have received regulatory approval to register BCH but have not announced the launch date. We will definitely tell everyone when BCH is available for trading.

However, most analysts stick to Bitmain's theory as the main price driver for Bitcoin Cash (BCH) on the market today.

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