• BCH’s price increased by 15.17%, outperforming Bitcoin and other altcoins.
• The market remained skeptical about its price action despite increasing Open Interest.

One undeniable fact is that Grayscale’s victory over the U.S. SEC was instrumental to the crypto market cap’s 4.91% increase in the last 24 hours. While the subject of the court case was Bitcoin’s [BTC] spot ETF, the biggest beneficiary of the development was not the king coin.

Read Bitcoin Cash’s [BCH] Price Prediction 2023-2024

BCH leads, others follow 

Instead, its 2017 hard fork Bitcoin Cash [BCH] gained the most. According to CoinMarketCap, BCH’s value increased by 15.17% in the last 24 hours, much higher than Bitcoin itself and any other altcoin in the top 50.

Although Bitcoin Cash was not Bitcoin’s first hard fork, it’s the only one that has remained incredibly relevant to date. But besides that, BTC and BCH have a three-month correlation coefficient of 0.8.

Typically, values of the correlation coefficient range from -1 to +1 while measuring associated returns and direction. Therefore, the 0.8 coefficient means that BCH and BTC have a very strong similarity when it comes to price movements.

However, there is something inter

Go to Source to See Full Article
Author: Victor Olanrewaju

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details