The Bitcoin Cash Price is rising ahead of the closely-watched Coinbase direct listing at the Nasdaq. The BCH is trading at $684, which is more than 5% above the lowest level yesterday. Its market value has surged to more than $12.6 billion.
Bitcoin Cash news: This week, all eyes will be in New York, where Coinbase, the leading exchange will go public. It will mark the first time that a company of this size has gone public. If the rollout is positive, the impact on digital currencies could be substantial.
The BCH price is also rising ahead of the important consumer price index (CPI) data from the United States. The CPI is an important measure of inflation. Therefore, if the CPI comes out higher than the expected 2.5%, it will have an impact on the bond market and the US dollar.
Bond yields and the US dollar will rise as investors raise their anticipation of higher interest rates. This will be bad for Bitcoin cash and other digital currencies. On the other hand, if the CPI comes out lower than expected, it could boost cryptocurrency prices because it will mean that the Fed will wait longer before it hikes rates. Most importantly, the BCH price could also break out if the bigger BTC breaks out, as I predicted before.
Hi Hatdoggaming,
I think that BCH will hit ATH within this year. What do you say? :))