Over the past few days, Bitcoin Cash (BCH) has been enjoying a lot of public spotlight as a series of news and developments have pushed ramped up the price of the token. Currently, the fourth largest cryptocurrency by market capitalization has attracted two of the most leading cryptocurrency exchanges in this nascent market, Gemini and Bittrex as they announced and hinted at support for the Bitcoin cash.
A Twitter user, Strah pinged Gemini’s official social media page on Wednesday and asked their plans to launch BCH support along with the Litecoin (LTC) support on the platform October 13th. The New York-based firm, Tweeted back confirming their plan to integrate LTC and added, that the plans to list the Bitcoin fork is in the pipeline but a date for the same is not set yet.
We announced during the Litecoin Summit that we would be launching LTC support on October 13th. We've already received regulatory approval to list BCH but haven't announced a launch date as of yet. We will be sure to let everyone know when BCH is available for trading!
— Gemini (@Gemini) September 26, 2018
Since it is a matter of when and not if Gemini would add support for the controversial Bitcoin fork, we can expect a substantial pump whenever the token hits the platform. Similar to what was observed with ZCash (ZEC) a few months back, Gemini’s exchange platform unexpectedly added the popular privacy cryptocurrency and observed around 40-45% rise in a matter of a few hours.
Bitcoin Cash Support
While Gemini hinted at adding BCH support in the near future, Bittrex, a popular, US-based crypto exchange, announced that on October 3rd, the platform will add US dollar (USD) markets for Bitcoin Cash.
On October 3 we’re launching a US dollar (USD) market for Bitcoin Cash (BCH).
— Bittrex (@BittrexExchange) September 27, 2018
Many believe that the aforementioned assets along with BCH will help Bittrex regain their volume figures that fell in the bearish market. Once the Bitcoin recoils as foretold by most bulls Bittrex’s new pairs will undoubtedly help it gain recognition and volume from cryptocurrency investors across America and around the globe.
Bitcoin Cash’s Rally
On Wednesday, Bitmain finally released its in-depth IPO filing documents indicating that it still has a lot of money riding on the asset. Subsequently, BCH started an upward surge of 20%. Marouane Garcon, the managing director of the Amulet crypto startup, notes that the aforementioned IPO filing will have a certain positive effect on the price of BCH. He told Forbes:
[The filing] definitely influences the price. It has been no secret that Bitmain holds massive amounts of BCH, but now that they are going public they are going to fill their already immense treasure chest with more money, and I’m confident a good chunk of it will go towards the development of BCH. Exciting times ahead for Roger and Jihan.
The pump from Bitmain news has coupled with the aforementioned intentions of the exchanges has propelled BCH even higher. At the time of writing, BCH over 30% in the past 48 hours. If Garcon indication is on the mark and Bitmain continues to allocate capital to the Bitcoin fork, the price of the asset will logically continue rising, even with all the controversies surrounding it.