Bitcoin Cash (BCH), is a hot commodity right now.

The altcoin, currently valued at US$4.5bn has risen a staggering 121% over the last seven days. It is significantly higher than the next highest riser in the top 100 altcoins (which, if you’re interested, is the PEPE meme currency).

What is Bitcoin Cash’s current motivation?

What is Bitcoin cash?

Bitcoin Cash (also known as Bitcoin Cash) is not to be confused with the bitcoin blockchain itself. It is a “hard fork” of that original network.

Hard forks are essentially a copy of an original software piece, with some modifications.

Fire OS is a historically significant example. It was forked in 2011 from Android source code to power Amazon’s Kindle.

Bitcoin Cash was created in 2017 by a group anonymous developers who wanted to bring bitcoin back to its decentralised roots. This ambition had been forgotten for years by the Bitcoin Core community, which was more interested in financial gain.

This group of developers has tweaked the source code of bitcoin to make it faster and cheaper than its bigger brother.

It is not necessary that Bitcoin Cash (BCH), as a whole, has achieved its goals.

BCH’s value was down 96% since its peak before this week.

In recent days, BCH’s price surge has pushed trading volumes up to 6%.

BCH gets a boost from big money

This impressive price movement for a cryptoasset that is relatively obscure can be traced to the official launch last Tuesday of the new EDX cryptocurrency trading exchange.

EDX targets institutional clients with lots of money to spare.

EDX, in order to remain on the side with the US regulators is very picky about what it offers, and only four cryptocurrencies are available for trading. Bitcoin Cash is included, along with bitcoin, ether, and Litecoin.

Will Bitcoin Cash rally be continued?

Benjamin Stani, Matrixport, told yahoo.finance that the sentiment is largely to blame. Both tokens are not widely used and are generally considered coins of the previous cycle.

Stani says no, but his position is valid, as he has historically low trading volume and very little else to support it, barring the recent hype rally.

BCH could also be a benefit to US regulators who are hawkish.

The Securities and Exchange Commission has been on a crypto-warpath this year. Nothing is certain.