Why Bitcoin Cash (BCH) Skyrocketed 12% Higher Today
Portfolio Pulse from Henry Khederian
Bitcoin Cash (CRYPTO: BCH) surged by 12.4% to $244.62 on Monday morning due to false rumors of the iShares Bitcoin Spot ETF receiving approval. The rumors were refuted by BlackRock, confirming that their Bitcoin ETF application is still under review. CoinTelegraph apologized for a misleading tweet about the BlackRock Bitcoin ETF and is conducting an internal investigation.
October 16, 2023 | 6:23 pm
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Bitcoin Cash (BCH) surged due to false rumors of the iShares Bitcoin Spot ETF approval. The price pulled back after the rumors were refuted.
Bitcoin Cash's price surged due to false rumors about the approval of the iShares Bitcoin Spot ETF. However, the price pulled back after BlackRock refuted the rumors, confirming that their ETF application is still under review. This shows that BCH's price is highly sensitive to news and rumors about the crypto market.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100