Bitcoin Cash (BCH) Rises on Bitmain’s IPO Announcement
Cryptovest
Published Sep 27, 2018 05:21AM ET
Updated Sep 27, 2018 06:40AM ET
Bitcoin Cash (BCH) Rises on Bitmain’s IPO Announcement
After drifting sideways for weeks, Bitcoin Cash (BCH) was among the top gainers in the wake of the announcement that Bitmain had finally filed for an initial public offering (IPO) on the Hong Kong stock exchange. The BCH price added more than 20% net in 24 hours, jumping from around $447 in the afternoon of September 26 to $529.50 on Thursday around 6:00 UTC.
Earlier, BCH peaked briefly above $542. The Twitter community reacted immediately, connecting the price movements of BCH with the financial results of Bitmain. However, the asset was seen as making a short-term movement. Bitcoin maximalists were immediately skeptical:
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