Bitcoin Cash (BCH) price continues to rally
Posted On August 7, 2021
Bitcoin Cash’s price has surged by more than 70% in just the past 24 hours after it began trading at $8,955 on Friday, the most expensive bitcoin.
Bitcoin Cash’s surge in price has been fueled by a number of factors, including the US government’s decision to lift its ban on Bitcoin Cash transactions, as well as the fact that several major retailers including Best Buy, Target, and Home Depot have announced that they will accept Bitcoin Cash.
The US government is expected to lift the ban on Bitcoins in October.
The recent surge in Bitcoin Cash prices has also been fuelled by the fact the price of Bitcoin Cash has surged in recent days as investors have started to cash out of the cryptocurrency.
The value of Bitcoin has been driven up by the recent increase in Bitcoin’s price and it is expected that the price will continue to rise.
In addition, the US Department of Treasury issued guidance to US citizens that they are prohibited from engaging in any transactions that include Bitcoin or any digital asset that uses Bitcoin as a medium of exchange.
This means that Bitcoin users must remain cautious about the price and only transact with bitcoin if they are authorized to do so.