Here’s Why Bitcoin Cash (BCH) Price is Pumping

Bitcoin Cash price pump today definitely made their holders quite happy considering it’s up 15% and is now trading around $454. Alongside some meme coins and AIOZ, BCH is one of the top gainers today.

Trading volume has also exploded over 55% and is now over $500 million in the last 24 hours.

The main reason BCH price pumped today is the fact that this coin is usually following Bitcoin’s price movements, and BTC price is also up 3% today.

The main reason for the market pump today is Former U.S. President Donald Trump’s pledge to create a ‘strategic Bitcoin reserve’ if re-elected, signaling potential political support for cryptocurrencies.

Source: CoinMarketCap/BCH

This could be beneficial for Bitcoin Cash too, so traders are rushing into this coin.

Trump is widely seen as a much more pro-crypto candidate than Kamala Harris, and many crypto enthusiasts are likely to support him in the US elections later this year. His stance on digital assets could potentially lead to more favorable regulations and increased adoption of cryptocurrencies.

The crypto market often reacts positively to news of potential mainstream adoption or political support. This recent development has sparked renewed interest in various cryptocurrencies, including Bitcoin Cash, which shares some similarities with Bitcoin.

Read also: Kaspa Pattern Signals Bullish Breakout – Could KAS Surge 3x?

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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