Summary
Bitcoin Cash (BCH) is surging to its highest price in almost three years, with a 5% increase in the last 24 hours and significant gains over the past week and month. The spike is attributed to the upcoming BCH halving and renewed interest in the cryptocurrency sparked by a book by Roger Ver. BCH’s technical indicators point to a strong bullish trend, although a slight correction may be on the horizon. If the trend continues, BCH could reach prices between $730 and $790.
Key Points
1. Bitcoin Cash has surged to its highest price in nearly three years, with a 5% increase in the last 24 hours, a 28% jump over the past week, and a 43% rally in the last 30 days.
2. The recent spike in BCH’s price is attributed to the upcoming Bitcoin Cash halving, scheduled to occur in just two days, which is expected to slow down inflation and increase the scarcity of the coin.
3. Bitcoin Cash’s positive performance defies the overall market trends, with technical indicators pointing to a strong bullish trend and a potential correction in prices in the short term.