Why Bitcoin Cash Surged by 16 and 99 Bitcoin Tokens Also Experienced a Rise Unraveling the Phenomenon

Bitcoin Cash (BCH) has once again captured people’s attention with a strong 16% growth this week.
The famous derivative of the original Bitcoin, BCH, seems to have found its best state, reminding everyone that it is still a top altcoin.
Meanwhile, a new project called 99Bitcoins Token (99BTC) has performed well during its presale phase, proving that there is always room for innovation in the cryptocurrency market.
The rise in BCH price is consistent with bullish market indicators.
After falling to a low of $344 on Monday, Bitcoin Cash climbed back up to $399.
Earlier today, BCH actually broke the $400 mark, but quickly retraced.
This slight pullback indicates a series of sell orders around this psychological barrier, but it hasn’t excluded BCH just yet.
The momentum for the coin’s rise remains strong.
BCH is currently fighting against the key technical indicator, the 50-day Exponential Moving Average (EMA).
Trading above this level could foreshadow more bullishness in the future.
Interestingly, it’s not just Bitcoin Cash’s price trend that is heating up.
The spot trading volume for BCH has surged by 25% in the past 24 hours, reaching $277 million.
This increase in activity suggests that traders have rekindled their interest.
Even more exciting, open interest in BCH futures has also risen by 8%, currently reaching $275 million.
All of these factors together paint a bullish picture for the token’s potential.
What is the catalyst behind the surge in Bitcoin Cash?
The sudden surge in Bitcoin Cash price is not random.
One major catalyst behind this rebound is the news that the infamous exchange Mt.Gox, which collapsed a decade ago, will begin repaying creditors in July.
Mt.Gox will use BCH as one of the repayment tokens.
This repayment situation could be a double-edged sword for BCH’s price.
On one hand, it could flood the market with the coin, potentially pushing down the price.
But on the other hand, it puts BCH back in the spotlight, reminding investors of its value and creating new demand.
Just the anticipation alone seems to have boosted BCH’s price.
But Mt.Gox is not the only factor at play.
The world’s largest cryptocurrency, Bitcoin, has been on a rise this week, and Bitcoin Cash has been following closely behind.
Historically, BCH has always moved in sync with BTC, benefiting from its bull markets (and bear markets).
Therefore, Mt.Gox’s news and Bitcoin’s rise have created a series of positive catalysts for Bitcoin Cash.
Not only Bitcoin Cash is making headlines.
Another project, 99Bitcoins Token, has just reached a significant milestone with presale sales exceeding $2.3 million.
For those looking to get in early, 99BTC tokens are still up for grabs at a price of $0.00111 per token.
The presale accepts ETH, USDT, BNB, and card payments.
What sets 99Bitcoins Token apart from its competitors is the innovative Learn to Earn protocol.
Here’s how the protocol works: imagine an online course that delves into the fundamentals of blockchain.
When you complete a module and take a quiz, you earn 99BTC tokens as a reward.
It’s like getting rewarded for learning, but in cryptocurrency.
Additionally, 99BTC token holders can stake their tokens for attractive returns, access advanced courses, and join a VIP community group.
There are even discussions about exclusive trading signals.
Ultimately, the 99Bitcoins team is betting on the idea that as the cryptocurrency market heats up, more people will seek blockchain knowledge than ever before.
By incentivizing learning, they are not just building another cryptocurrency project, but creating an educated cryptocurrency community.
It’s an interesting way to capture people’s attention.
99Bitcoins Token’s Telegram channel currently has 4,500 members, and its official Twitter page has 21,300 followers.
Even prominent figures like Michael Saylor have praised the project.
In conclusion, while Bitcoin Cash may be dominating the headlines, 99Bitcoins Token is quietly making a name for itself.
Visit the 99Bitcoins Token presale.
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