BTC forks Bitcoin Gold and Bitcoin Diamond mysteriously pump 25% each

For some reason, Bitcoin forks have been rallying extremely hard over recent days.

Litecoin, too, has performed well over recent days, actually outperforming Bitcoin over the past week.

The LTC rally is somewhat explainable: the coin was added to PayPal's cryptocurrency service for some reason, meaning that it is likely seeing a bid from retail players that don't know much about digital assets.

The rallies in the other forks came out of left field.

If you search up the forks on Twitter, you will be hard-pressed to find an actionable bit of information that would have catalyzed this move higher.

These coins are dropping somewhat after their initial pumps but remain far above the price points of just days ago.

It is possible that this rally has to do with the ongoing Bitcoin Cash fork situation, which is going another consensus split/fork over further changes to the protocol.

"I can't find a defensible thesis for most $BTC forks over the long term. With the emergence of fee-accruing tokens in DeFi, seems natural that capital parked in these glorified digital pet rocks either flow to BTC or to DeFi.".

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