As per CoinMarketCap data, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate rose to a three-month high of $872.24 at 11:29 UTC. The cryptocurrency’s record all-time high of $920 was set on Aug. 19.
As of writing, the cryptocurrency is trading at $800, and has climbed 27 percent over the last 24 hours. On a monthly basis, BCH is now up a staggering 150 percent.
The gains come amid rising speculation that the surprise cancellation of the Segwit2x hard fork this week means bitcoin may become more of “store of value” than a specialized protocol for day-to-day payments.
So far, the news appears to have strengthened the appeal of alternatives seeking to better serve this use case…