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Bitcoin Cash (BCH) Rebound? Expert Forecasts 960% Surge Amid Bearish Trends

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Bitcoin Cаsh (BCH) hаs witnеssеd а notаblе risе ovеr thе pаst month, еxpеriеncing а significаnt 20% pricе incrеаsе thаt pushеd its vаluе аbovе $450. Howеvеr, this rаpid surgе promptеd а wаvе of quick profit-tаking, cаusing а subsеquеnt pricе dеclinе. In еаrly August, BCH droppеd to а low of $273, аnd within thе pаst wееk, thе cryptocurrеncy hаs fаcеd а 3.75% dеcrеаsе, sеttling аt $344 аs of now.

BCH 7D graph coinmarketcap

Exаmining thе tеchnicаl indicаtors on а 1-dаy chаrt highlights а cаutious sеntimеnt surrounding thе cryptocurrеncy. Thе 50-dаy аnd 100-dаy Exponеntiаl Moving Avеrаgеs (EMAs) currеntly sit аbovе its mаrkеt pricе, suggеsting continuеd bеаrish prеssurе. 

Thе 50-dаy EMA, bеing closеr to thе rеcеnt pricе аction, points to morе immеdiаtе wеаknеss, whilе thе 100-dаy EMA confirms broаdеr bеаrish momеntum, suggеsting furthеr downsidе risk unlеss BCH rеclаims thеsе lеvеls.

Thе Rеlаtivе Strеngth Indеx (RSI) stаnds аt 46.20, pointing towаrds а nеutrаl-to-slightly bеаrish trеnd. Typicаlly, аn RSI bеlow 50 indicаtеs thаt bеаrish forcеs аrе in plаy, аlthough not to аn еxtrеmе еxtеnt. 

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Bitcoin Cash (BCH) Rebound? Expert Forecasts 960% Surge Amid Bearish Trends 4

In аddition, thе Moving Avеrаgе Convеrgеncе Divеrgеncе (MACD) shows thе MACD linе hovеring just bеlow thе signаl linе, with both linеs sitting undеr thе zеro lеvеl. This pаttеrn signаls ongoing bеаrish momеntum. Howеvеr, thе nаrrowing of thе MACD histogrаm impliеs thаt sеlling prеssurе mаy bе еаsing. A crossovеr of thе MACD аbovе thе signаl linе could signаl а bullish shift, but currеntly, thе outlook rеmаins bеаrish.

Thе Chаikin Monеy Flow (CMF) furthеr supports this аnаlysis, with а rеаding of -0.12 indicаting а nеt outflow of cаpitаl from BCH. A nеgаtivе CMF vаluе gеnеrаlly suggеsts highеr sеlling prеssurе thаn buying, rеinforcing thе bеаrish sеntimеnt prеsеnt in thе mаrkеt.

Experts Predict BCH Surge

Dеspitе thе prеvаiling bеаrish conditions, somе crypto еxpеrts rеtаin аn optimistic outlook on Bitcoin Cаsh. Prominеnt X (formеrly Twittеr) usеr Jаvon Mаrks hаs rеcеntly shаrеd аn аnаlysis prеdicting а substаntiаl bullish rаlly for BCH, suggеsting а potеntiаl tаrgеt pricе of $3,745.89. This forеcаst, if rеаlizеd, rеprеsеnts а stаggеring 960% incrеаsе from its currеnt trаding lеvеls.

Jаvon’s аnаlysis is groundеd in thе obsеrvаtion of consistеntly highеr lows forming in thе BCH pricе, а trеnd oftеn intеrprеtеd аs а signаl of long-tеrm bullish potеntiаl. Hе аlso highlights multiplе brеаkouts thаt hаvе occurrеd, which hе bеliеvеs could propеl BCH towаrds thе projеctеd $3,745.89 tаrgеt.

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Bitcoin Cash (BCH) Rebound? Expert Forecasts 960% Surge Amid Bearish Trends 5

Adding to thе optimistic forеcаst is thе prеsеncе of а hiddеn bullish divеrgеncе idеntifiеd by Jаvon Mаrks. This tеchnicаl pаttеrn occurs whеn thе pricе of аn аssеt forms а highеr low whilе аn indicаtor, such аs thе RSI, forms а lowеr low. In thе cаsе of BCH, this divеrgеncе signаls thе potеntiаl continuаtion of аn upwаrd pricе movеmеnt, suggеsting thаt thе rеcеnt pullbаck mаy bе short-livеd.

If thеsе prеdictions comе to mаtеriаlizаtion, Bitcoin Cаsh could еxpеriеncе а rеmаrkаblе rеvеrsаl from its currеnt bеаrish phаsе, offеring а significаnt opportunity for invеstors willing to cаpitаlizе on thе potеntiаl risе to $3,745.89. Whilе mаrkеt conditions rеmаin cаutious, thе possibility of а mаjor rаlly cаnnot bе dismissеd, аs tеchnicаl indicаtors hint аt а potеntiаlly bright futurе for Bitcoin Cаsh.

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Bitcoin Cash (BCH) Could See 13X Returns: Analyst Forecasts Strategic Buying Opportunity

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Bitcoin Cash (BCH) has recently garnered attention from crypto analyst Alan Santana, who shared his insights on the coin’s potential price trajectory leading up to the anticipated 2025 bull market. His analysis, which combines a detailed market outlook with a strategic accumulation plan, underscores the importance of patience and timing for investors.

Bitcoin Cash (BCH) Historical Performance

Bitcoin Cash has shown a distinctive pattern in its market behavior, often moving ahead of the broader market. In 2021, BCH reached its peak in May, slightly before other altcoins, many of which peaked in April or November of that year.

Fast forward to 2023, and BCH began its growth phase in June, in tandem with XRP, but reached its peak in April 2024, following the broader market trend. This unique timing difference highlights BCH as a project that could offer strategic advantages to those who understand its market movements.

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Bitcoin Cash (BCH) Could See 13X Returns: Analyst Forecasts Strategic Buying Opportunity 8

Santana’s analysis is built on a cautious approach, recognizing that the current market correction may not yet be over. He suggests that the bottom is likely still ahead, with the next bull market expected to begin in early 2025.

Santana’s outlook aligns with that of Arthur Hayes, the prominent figure behind BitMEX, who also predicts that the altcoin bull market will commence once Bitcoin surpasses $70,000 and Ethereum breaks $4,000, targets he expects to be reached in early 2025.

This shared perspective between Santana and Hayes highlights the importance of patience. Santana advises investors to wait for clearer signs of a market bottom before accumulating BCH. He emphasizes the value of using both linear and logarithmic charts to analyze potential market patterns, though he cautions that neither chart type alone provides a complete picture.

Analyst Forecasts 13X Potential for Bitcoin Cash (BCH)

Santana sees significant upside potential for Bitcoin Cash, estimating that it could achieve a 13X return from its current price. However, he warns that this growth will likely follow a period of further decline, as the market continues its correction. For those willing to wait, the rewards could be substantial, particularly if accumulation begins at the market’s lowest point.

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His recommended strategy is straightforward: wait for the right moment to buy, then hold through the bull market. Santana advises against trying to time the market perfectly. Instead, he suggests a gradual exit strategy once prices begin to rise. By selling in increments, such as 5% or 10% at a time—investors can secure profits while reducing risk.

As the market moves toward what could be a significant accumulation phase for Bitcoin Cash, Santana’s insights offer a clear and thoughtful roadmap for investors. The message is clear: prepare now, act with discipline, and the rewards could be substantial.

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Analyst Predicts Bitcoin Cash (BCH) Aiming for $800 in Coming Weeks

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Bitcoin Cash (BCH) is undergoing a notable uptrend, flashing all strong signs of a huge upward movement. In the past week, BCH surged almost 14% in a week, indicating its strong performance. This certainly is not an interim spike as checking through a longer time frame indicates that BCH has risen by 9% in the last 30 days.

Analysts are optimistic over the price trajectory of Bitcoin Cash, seeing it making a big leap upward soon. They believe BCH has been gearing up for a breakout, one that will make it climb significantly. Several factors back this positive outlook on BCH price action, including its increasing adoption, network upgrades.

At the time of writing, Bitcoin Cash trades at $425.88, with a trading volume of $817.86 million over the past 24 hours. Bitcoin Cash has a market capitalization of $8.39 billion and market dominance of 0.35%. It was only slightly down by 2.87% over the past 24 hours from its recent peak of $435.74 to the current price tag.

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Analyst Predicts Bitcoin Cash (BCH) Aiming for $800 in Coming Weeks 11

Analyst Predicts $800 Target For Bitcoin Cash (BCH)

A well-known crypto analyst from World Of Charts has recently shared an optimistic outlook on the price trajectory of Bitcoin Cash (BCH). According to this analyst, BCH appears to be gearing up for a significant recovery in the coming weeks.

Currently, BCH is testing multiple resistance levels. These levels act like hurdles that BCH needs to overcome before it can aim for new yearly highs. The analyst suggests that if BCH successfully breaks through these resistance levels, it could pave the way for a substantial price increase.

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In the event of a successful breakout, the analyst expects BCH to move towards the $800 mark. This bullish prediction has generated considerable excitement among investors and traders who are closely watching the cryptocurrency’s performance.

This forecast hence gives BCH investors an opportunity. The cryptocurrency market can be very volatile, and big swings in prices could turn into sizeable returns. It is worth noting, however, that high potential rewards are coupled with high risks.

The analyst’s prediction hangs on BCH breaking above the current resistance levels. Resistance levels refer to price points where selling pressure tends to prevent prices from moving higher. If BCH can clear these levels, it will show that strong bullish momentum is building up.

Related Reading |  Mt.Gox Bitcoin Distribution: A Decade-Long Legal Saga Reaches Its Climax 

Bitcoin Cash (BCH) Up 14% In a Week, Aiming for 683% Growth

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Bitcoin Cash (BCH) is showing strong signs of a huge upward movement as the cryptocurrency sees a notable uptrend. In the past week, BCH surged by nearly 14%, reflecting a strong performance. This growth is not essentially short-term; looking at a broader time frame, BCH increased by 12% over the last 30 days.

Currently, BCH is trading at $436.06. The 24-hour trading volume stands impressive at $1.33 billion and contributes a market cap of $8.60 billion. While all of this does sound very positive, the BCH price did fall by 3.52% during the last 24 hours. However, Bitcoin Cash dominated the cryptocurrency market by 0.36% as well.

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Bitcoin Cash (BCH) Up 14% In a Week, Aiming for 683% Growth 15

Bitcoin Cash (BCH) Set for 683% Surge

In a recent analysis, famous cryptocurrency expert Javon Marks shared a bullish outlook on the future trajectory of Bitcoin Cash (BCH). Marks explained that BCH has confirmed a Hidden Bullish Divergence pointing towards tremendous upside potential. According to his analysis, Bitcoin Cash has shown major strength and may reach a target price of $3,745.89

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If this target is achieved, it would represent an astonishing 683% increase from current levels. The Hidden Bullish Divergence suggests that the recent price movements are only the beginning, setting the stage for a substantial rally.

Adding to the optimistic sentiment, another analyst, Jonathan Carter, put forward that Bitcoin Cash is currently breaking out of its descending channel on the 12-hour chart. This breakout is a positive sign, giving indication that BCH is gathering momentum. Carter noticed that if it gets support from Bitcoin, BCH could aim for the $705 resistance zone within the near term.

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This convergence of bullish signals from both analysts paints a promising picture for Bitcoin Cash. As BCH continues to show strength, investors and traders are going to be eyeing up the next major move it makes through resistance levels. If the predictions hold up, Bitcoin Cash could be on the verge of a remarkable ascent, providing significant opportunities to those invested in this cryptocurrency

Related Reading | Analyst Sees Bitcoin Surging Above $80K If $70K Resistance Breaks 

Bitcoin Cash (BCH) Set for Rebound Towards $530 if $460 Support Holds, Analyst Says

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Bitcoin Cash (BCH) is moving through a shaky phase, playing with a downward trend and fighting hard to hold onto its key support level. Over the past week, BCH has experienced an almost 6% fall, dragged down by lots of selling pressure. The latest sentiment among most crypto analysts is that BCH is poised to register huge gains in the coming weeks, contrasting with current trends.

At the time of writing, Bitcoin Cash is trading at $460.60. The 24-hour trading volume is $415.76 million, market capitalization is $9.08 billion, and market dominance is 0.35%. Over the last 24 hours, BCH has taken a price dip of 1.53%.

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Bitcoin Cash (BCH) Set for Rebound Towards $530 if $460 Support Holds, Analyst Says 18

Looking forward, the Bitcoin Cash price prediction by Changelly is bearish, expecting the token to drop further by 1.61%, bottoming around June 4, 2024, meaning a slight decrease in value before an uptrend.

Changelly technical indicators show a mixed expression of BCH. The market sentiment is divided into 42% bearish signals and 58% bullish signals. Additionally, the all-important gauge of market sentiment, the Fear & Greed Index, registers a score of 73, indicating a strong sense of greed among investors.

Analyst Eyes BCH Rebound towards $530 Resistance

Renowned cryptocurrency analyst Jonathan Carter has shared his optimistic outlook on Bitcoin Cash (BCH), suggesting potential bullish movements shortly. Carter’s analysis emphasizes the ascending support level of around $460, which he deems crucial for Bitcoin Cash’s potential recovery.

Carter identifies the support level of $460 as a critical foundation for Bitcoin Cash’s price stability. This ascending support line, a trendline drawn through increasing lows, acts as a safety net, preventing further declines. The strength of this support is pivotal; if it holds, it could provide the momentum needed for BCH to rebound.

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Should the $460 support level prove resilient, Carter predicts a potential price rebound for Bitcoin Cash. This rebound could propel BCH towards testing the next significant resistance level at $530. Resistance levels, typically formed at previous price peaks, can act as barriers that prices struggle to surpass. Breaking through this resistance would signal a strong bullish trend and could lead to further upward movement.

In that light, the rising structure in the BCH price chart supports Carter’s bullish forecast. An ascending structure, created on higher highs and higher lows, mainly signifies a market developed with a bullish inclination. This would suggest a trend in which buyers enter the market at consistently higher prices, which increases the overall price trend.

While Bitcoin Cash is under pressure, the long-term view stays positive. Analysts are convinced that BCH will soon register gains after it has passed this temporary storm, making it a cryptocurrency to watch in the coming months.

Related Reading |  Ethereum (ETH) Price Analysis: Hidden Bullish Pattern Signals ETH Rally to $4,811, Analyst Says 

Bitcoin Cash’s Second Halving: Miners Grapple with 50% Reduced Rewards

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The cryptocurrency world has been buzzing with excitement in the lead-up to the recent halving event, especially in the case of Bitcoin Cash. Over the past three months, Bitcoin Cash has seen a staggering 147.85% increase in its price, indicating considerable investor interest and anticipation surrounding this pivotal moment. Despite a slight setback just before the halving, the cryptocurrency quickly regained its footing, reflecting the resilience of its market.

Bitcoin Cash, often touted as a faster and more affordable alternative to BTC, underwent its second-ever halving event, where mining rewards are halved, akin to BTC’s protocol. This adjustment aims to maintain the scarcity of cryptocurrency while also impacting the economics of mining.

The first halving for Bitcoin Cash occurred on April 8, 2020, slashing miner rewards from 12.5 BCH to 6.25 BCH. This reduction underscores the predetermined scarcity embedded within its blockchain, echoing the principles of its predecessor, Bitcoin.

Leading up to the halving, Bitcoin Cash experienced a rollercoaster ride in terms of price fluctuations. Despite its impressive rally over the preceding months, the cryptocurrency faced a 9.94% decline in the day leading up to the halving event. However, this setback was short-lived as BTC Cash swiftly rebounded post-halving, witnessing a 5.5% spike in its value.

Interestingly, this price volatility also triggered significant liquidations, totaling $3.9 million, predominantly affecting long positions. Such market dynamics highlight the speculative nature of cryptocurrency trading and the inherent risks associated with it.

Bitcoin Cash’s 2018 Split

The genesis of Bitcoin Cash itself stems from a contentious hard fork within the BTC community in 2017, driven by disagreements over scaling solutions and transaction fees. Subsequently, Bitcoin Cash underwent another contentious split in 2018, leading to further discord within its mining community.

Looking ahead, the cryptocurrency space is gearing up for yet another significant event: the highly anticipated Bitcoin halving, scheduled for April 20. As the countdown begins, investors and enthusiasts alike eagerly await the potential impact of this event on the broader cryptocurrency market.

In conclusion, the recent halving event for BTC Cash serves as a testament to the evolving landscape of cryptocurrencies, marked by volatility, innovation, and continuous adaptation to market dynamics.

Bitcoin Cash (BCH) Eyes Breakout: Charting a Path Amidst Consolidation

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Bitcoin Cash (BCH) displays robustness and hints at an imminent breakout, poised to appreciate in value substantially. Over the past four weeks, BCH increased by nearly 57%, although this was slowed down by a slower pace over the week as indicated by a small uptick of 1.83%

Renowned crypto analyst Rekt Capital recently shed light on Bitcoin Cash’s (BCH) positioning concerning the US dollar, asserting that it is currently situated below the Macro Downtrend line. This observation hints at the Flagging Structure established, which Rekt Capital shows in orange.

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This analysis suggests that Bitcoin Cash might be in an intermediate stage where it has been going through consolidation and might be stabilizing its prices. In addition, Rekt Capital’s analysis indicates that if this trend continues to hold on, it could pave the way for a major breakthrough which may even suggest the end of the existing Macro Downtrend. Given these factors, it is important to keep track of BCH’s price movement during the next few weeks because it is facing a crucial point in its market path.

Bitcoin Cash (BCH) Short-term Price Forecast 

As of the latest update, Bitcoin Cash’s current price is $433.27. It boasts a 24-hour trading volume of $1.56 billion and a market capitalization of $8.52 billion. Within the last 24 hours, Bitcoin Cash has recorded a marginal increase of 0.39%.

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Source: CoinMarketcap

According to Changelly’s Bitcoin Cash price prediction, BCH’s price is anticipated to experience a slight decrease of around -0.12% and could potentially drop by March 15, 2024.

Changelly’s analysis of the technical indicators reveals that the prevailing market sentiment is predominantly Bearish at 10%, with the Fear & Greed Index scoring a high of 81, indicating Extreme Greed among investors.

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Bitcoin Cash (BCH) Eyes Breakout: Charting a Path Amidst Consolidation 22

Drawing insights from the price fluctuations witnessed at the onset of 2023, cryptocurrency experts project an average BCH rate of $460.20 by March 2024. The expected range for BCH prices extends from a minimum of $435.14 to a maximum of $485.25.

The possible ROI is estimated here to be around 8.7%. This gives room for investors who would like to exploit the expected movements based on the proposed values of Bitcoin Cash beyond this period.

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Bitcoin Cash in Freefall: Short Squeeze Imminent?

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Amidst a drawdown in the crypto markets this week, assets like Bitcoin Cash [BCH] and Loopring find themselves at the center of shorting activities on Binance. Despite the market turbulence, there is a silver lining as these assets display early signs of recovery, and short liquidations could potentially act as a catalyst if the markets regain strength. According to a report from Santiment, traders expressing fear, uncertainty, and doubt toward assets such as Bitcoin Cash and Loopring have witnessed price rebounds amidst numerous short positions.

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Bitcoin Cash, a fork of the original Bitcoin, has experienced a sharp decline, losing 7% within 24 hours. Originating as an altcoin in 2017, BCH underwent a further split in November 2018, resulting in two separate cryptocurrencies: Bitcoin Cash and Bitcoin SV. After a relatively subdued performance in 2023, the altcoin demonstrated a more bullish outlook in 2024.

The optimism surrounding BCH is attributed to the approval of spot exchange-traded funds [ETFs] by the Securities and Exchange Commission [SEC]. This positive development casts a favorable light on all BTC derivatives and hard forks due to their inherent association with BTC. Bitcoin Cash, as an early hard fork, was speculated to experience a potential rise by the end of the upcoming month.

Recognizing the anticipated upswing, large whale addresses have been actively accumulating Bitcoin Cash for several weeks. Since the end of October, addresses holding between 1,000 and 10,000 BCH have increased their holdings by over 90,000 BCH, equivalent to more than $20 million in a single month, bringing their total holdings to 3.39 million BCH.

Mt. Gox Settlement Impact on Bitcoin Cash Crash

Furthermore, a recent report on January 10 highlighted that over 1 million BTC transactions were processed in 2023 alone, contributing to a cumulative total exceeding 4 million transactions. This surge in transaction volume could be a compelling catalyst for those who view cryptocurrencies as a viable payment facilitation technology, particularly Bitcoin Cash.

However, the unpredictable and whimsical nature of the crypto market has manifested in the past couple of weeks. The overall digital asset market has witnessed a decline, with the aggregate market capitalization of digital assets dropping by over 4% in the last 24 hours. The flash crash in Bitcoin Cash’s value aligns with Mt. Gox’s latest settlement distribution, triggering short-term selling pressure for this particular token.

Tether [USDT] Records 3-Month High Utility Amidst Market Gloom

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In the current time of market uncertainties, a ray of hope shines through the crypto sphere, illuminating the path for enthusiasts and traders. Tether [USDT], the stalwart stablecoin of the crypto universe, emerges as a beacon of optimism amidst the broader downtrend engulfing digital assets. The spotlight, however, isn’t solely on USDT; it is shared with an intriguing cohort of altcoins that have captured the attention of seasoned traders and enthusiasts alike.

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Besides Tether’s USDT, Bitcoin Cash [BCH], Simple Ledger Protocol [SLP], Mask Network [MASK], Leverj [LEVER], and Civic [CVC] stand out amidst the tumultuous market landscape. Their distinctive rise lies in the significant increase in unique addresses interacting on their specific networks. In the ever-evolving crypto landscape, this surge in user activity represents a crucial metric, signaling heightened interest and potential adoption.

At a time when established cryptocurrencies grapple with volatile price swings and ambiguous market sentiments, these altcoins exhibit remarkable resilience. The surge in unique addresses indicates a deeper level of engagement, portraying a vibrant user base and a growing community.

Tether’s Resumes Stablecoin Lending Program

While the surge in user activity within networks like Bitcoin Cash, Mask Network, and Leverj paints a broader picture of evolving interests, the spotlight remains firmly fixed on USDT, the top stablecoin in the crypto market. Despite the market’s unpredictable fluctuations, USDT maintains its status as a steadfast store of value, drawing an increasing number of unique addresses into its network.

That being said, the issuer of the world’s largest stablecoin has recently resumed lending its own stablecoin to customers, reversing a decision made less than a year ago. As reported by TronWeekly, the latest quarterly financial update from Tether revealed that as of June 30, it held $5.5 billion in loans, marking an increase from the $5.3 billion reported just a quarter earlier.

This evolving development in the crypto market underscores the vital importance of diversity. While established players continue to exert influence, the growing popularity of these altcoins signifies a shifting tide. Developers and users alike are captivated by the exciting prospects emerging within the ever-expanding realm of cryptocurrencies.

Bitcoin Cash (BCH) Surges By 166.3% In Two Weeks, Secures Place Among Top Q2 Gainers

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Bitcoin Cash (BCH) has experienced an impressive surge of 166.3% over the past two weeks, solidifying its position as one of the top gainers in the second quarter of 2023. 

Coingecko’s latest report takes an in-depth look into the history of BCH, explores the factors contributing to its recent price surge, and examines its unique characteristics compared to Bitcoin.

Bitcoin Cash, derived from the original Bitcoin blockchain, strives to be recognized as the cash variant of Bitcoin, integrating versatile features that improve its usability for regular financial transactions in accordance with Satoshi Nakamoto’s original intent.

During June 2023, BCH witnessed significant price growth primarily because it joined the EDX market as one of the first four assets listed on that platform. Including Bitcoin, Ethereum, and Litecoin in this venture represents a noteworthy accomplishment for the world of digital currencies.

EDX Markets seeks to close the distance between conventional finance and the cryptocurrency industry by facilitating connections between influential entities in both fields. By undertaking this initiative, it aims to merge traditional financial practices with the world of cryptocurrencies, ensuring security for both mainstream and native investors.

A united and flourishing community kickstarted Bitcoin’s expedition, undertaking a comprehensive exploration of both the potential of the Bitcoin blockchain technology and its accompanying virtual currency.

Bitcoin’s functionality gave rise to conflicting ideologies among its proponents, causing fractures within its community. Ultimately, these divisions culminated in the introduction of BCH and signaled an end to the era when everyone shared a common belief about what this cryptocurrency represented.

Bitcoin Cash (BCH) Soars: 200% Surge In June 2023

On the final day of June 2023, Bitcoin Cash reached a yearly high of $320, marking an impressive 200% increase from its opening price of $110 at the beginning of the month. 

The market cap of Bitcoin Cash has surpassed $6 billion, while daily trading volume soared from an average of $52 million to over a billion dollars in the closing weeks of June, reflecting a remarkable 20-fold increase.

On-chain metrics have also experienced growth, with the number of Bitcoin Cash holders surpassing 22 million. The mining difficulty has increased to over 390G, and the hashrate exceeded 3.1EH/s on June 30, 2023.

It is worth noting that Litecoin, Bitcoin, and Bitcoin SV have also witnessed growth during this period. While the precise catalyst for this significant growth remains speculative, the launch of EDX Markets is the most likely driving force.

Related Reading | XRP’s Social Dominance Declines, Setting The Stage For Potential Rally