Bitcoin Cash (BCH) surges over 107.56% in seven days.
BCH is in bearish momentum and hits an all-time high price of $298.
Bitcoin Cash, the junior of the powerhouse Bitcoin, is currently experiencing a bullish trend. Today, its price has surged by 30%, reaching an all-time high for this year at $298. This significant increase in price can be continued with the constant upward movement of Bitcoin Cash in recent weeks, with a remarkable 107.56% increase over just seven days.
BCH Price Chart, Source: TradingView
Bitcoin Cash (BCH), Strong Player in the Field?
Bitcoin Cash has been gaining popularity among crypto enthusiasts and has been successful in building a strong community. It has been outperforming major cryptocurrencies, and one contributing factor to its success is the launch of EDX Markets, which has particularly benefited it.
Additionally, the Bitcoin Cash network underwent a major upgrade on May 15. It enables developers to create tokens with the same properties as BCH. These tokens, known as “CashTokens,” can be issued by anyone using the network, further expanding the utility and potential.
Also, It is worth noting that the surge in Bitcoin’s price above $30,000, along with the celebration of the Bitcoin ETF, has played a significant role. As a result, the community is enjoying continuous upward momentum, with some sarcastically speculating that it could reach $1,000.
According to CoinMarketCap, the current price of BCH stands at $296. With a high of $305 and a low of $225. Its market capitalization is $5,752,686,225, and it has a circulating supply of 19,435,338 BCH, out of a maximum supply of 21,000,000 BCH.
In conclusion, Bitcoin Cash is currently exhibiting outstanding performance. Its recent surge, following a prolonged period of stability, is highly notable. However, considering the inherent volatility of the cryptocurrency market, it is crucial to exercise prudence and recognize that market conditions can swiftly shift.