Bitcoin Cash price jump

What is the reason for a huge price spike of Bitcoin Cash? 
17 October 2017   2718

Bitcoin Cash, the fork of original Bitcoin showing big price jump in recent hours.

Bitcoin Cash price chart
Bitcoin Cash price chart

As you can see on the chart above, huge jump (over 10%) happened only few hours ago (about 8.00-9.00, 17th of October, 2017). At the moment of press, Bitcoin Cash gained 11.33% in less than 24%. Marketcap is $5,813,016,133, and average price is $348.03.

Reason for a jump

So, what is the reason for this huge price spike? Well, less than a day ago, Bitcoin dot com resource released big statement called "Bitcoin Cash is Bitcoin". As a conlcusion, Bitcoin dot com team says that 

The position that Bitcoin Cash is Bitcoin is based on its adherence to the design goals and intended purpose that Bitcoin was created to fulfill.
On October 13, 2017, Bitcoin Unlimited Chief Scientist Peter Rizun announced that their Gigablock Testnet Initiative successfully mined and propagated the first ever 1GB block. Such test results demonstrate that the Bitcoin network can scale to compete directly with mainstream payment processors (10,000 transactions per second and higher vs. Visa’s average 3,000 transactions per second). Bitcoin Cash, with its more realistic approach to scaling, is well-positioned to become a worldwide peer-to-peer electronic cash system.
Based on the arguments presented above, Bitcoin Cash (BCC) is the only fork of Bitcoin that resembles a natural continuation of the original Bitcoin invention. All Segwit chains have altered so many fundamental properties of Bitcoin that it seems a stretch to refer to any of them by the Bitcoin name.
 

Bitcoin.com team statement

We will keep our eye on this situation. So, stay tuned to get the hottest news. 

Rakuten to Allow to Convert Loyalty Points to Crypto

Rakuten Super Points can be exchanged for three cryptocurrencies: Bitcoin, Ethereum and Bitcoin Cash, but customers must have Rakuten Wallet
24 December 2019   631

The trading platform of the Japanese financial services giant Rakuten Wallet will allow Rakuten Group customers to convert loyalty points into digital assets.

According to the company this Tuesday, Rakuten Super Points can be exchanged for three cryptocurrencies: Bitcoin, Ethereum and Bitcoin Cash. Previously, customers will have to register an account with Rakuten Wallet. The minimum amount for an exchange is 100 points. During such operations, the rate of one “super point” will be set at the level of one yen ($ 0.0091).

Through the launch of the new service, Rakuten Wallet hopes to reduce the barriers of entry to crypto asset trading by providing an easy and more accessible way for new users to start, including novice users who are interested in crypto asset trading with no prior experience. The service also increases the range of uses for Rakuten Super Points across the Rakuten Group’s ecosystem of services, making the Rakuten loyalty membership program even more attractive and convenient.

 

Rakuten Wallet

Restrictions on the amount of one transaction apply, as well as the amount of points available for conversion per month - up to 500,000 ($ 4,570). Initially, the service will be available only to users of the Android application, but next month its support will be implemented in the iOS application.

The public launch of Rakuten Wallet took place this August. The exchange is one of the few regulated entities for cryptocurrency trading in Japan.