TL;DR: Bitcoin Cash (BCH) led all top 10 cryptocurrencies ranked by market capitalization in speculative, overnight trading. As of publication, the price of BCH in US dollars reached more than $425, a seven-month high. It’s the second time the most successful fork of BTC has pumped in the last 10 days, and it comes amidst a critical moment in peer-to-peer electronic cash history.

Bitcoin Cash Once Again Leads Top 10 Cryptos

The broader cryptocurrency market saw all green, as each seemed to be riding some kind of a speculative wave in 24-hour trading. Random bumps are typically attributed to China. News, however, from the Asian nation has been less than hopeful as Coronavirus grips hold, quarantines are employed, and pockets of political instability in major financial hubs such as Hong Kong have all been relayed to the West. So maybe that’s not it.

The trope around ecosystem circles from veterans goes, No one understands crypto. Notoriously fickle crypto markets appear to move for no other than they’re moving, a kind of self-perpetual momentum machine, rocking up and down with general sentiment. It is always important to absolutely not attribute price movement with anything like rationality or reason.

Interestingly, however, Bitcoin Cash and its community have also been in the news recently. Influential mining pool BTC.TOP founder Jiang Zhuoer announced the Infrastructure Funding Plan for Bitcoin Cash (IFP) back in late January, setting off waves of debate, protests, rebukes, praise, discussion, and alternatives. That BCH might be taking protocol development and maintenance seriously, no matter the eventual proposal outcome, could be considered a positive among some investors.

Zhuoer also amended, updated his IFP just days ago, meeting community concerns about more discussion concerning centralization, voting, fund distribution, and the inherent economic incentives encoded into Bitcoin Cash. The P2P electronic cash community also demonstrated an openness to examining BCH problems, such as the gaming of its difficulty adjustment algorithm (DAA), which can cause periodic gaps in miners finding blocks. Perhaps such transparency in revealing how the sausage is made for a permissionless, censorship-resistant, decentralized, potential money for the world, is being viewed, for the moment, as a good investment.

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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.