One of the best-performing crypto assets following the news of Grayscale beating the SEC, alongside the daily pumps of new meme coins on Uniswap, was
, who has close to 600,000 followers, also posted a long setup for Bitcoin Cash just prior to the Grayscale pump, predicting it will break out of its current short-term retracement and set new highs above its July highs of almost $330.Luke Martin posted to his 325,000 followers that ‘$BCH is the best performing top 20 market cap coin this week’ – on August 28th – and that BCH dominance had previously been a predictor of a Bitcoin pump.
He noted it was ‘worth paying closer attention whenever an anomaly like Bitcoin Cash strength keeps showing up.’ The Grayscale pump followed shortly after – perhaps leaked to some insiders – spiking both BTC and BCH, especially BCH.in by Grayscale, including Bitcoin itself, Ethereum, Cardano, Litecoin, Solana, Uniswap, and a range of newer cryptocurrencies.
Many other analysts have predicted the Bitcoin Cash price can continue the uptrend it began in mid-June – which has found support at the 0.382 Fib level after a pullback – spurred on by the Grayscale news. Grayscale has won the right to appeal against the SEC in its filing for a spot Bitcoin ETF – while the SEC may choose to delay its next move, the calls to dismiss Gary Gensler and use of language like ‘arbitrary’ and ‘capricious’ by lawyers to describe the SEC’s recent decisions have led experts at Bloomberg to predict Grayscale’s odds of success may be as high as 75%.
Former Grayscale CEO Barry Silbert is also confident cryptocurrency will win in the long term against the SEC,
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