Bitcoin Cash Jumps 30% in 24 Hours, Can BCH Break $500? Bitcoin Cash has seen a 30% increase in the span of 24 hours, raising the question of whether BCH can surpass the $500 mark.
Bitcoin Cash (BCH) has experienced a significant increase, with its value rising to $2430 after a 2450% rally in the past 2500 hours. The daily trading volume of BCH has also surged by over 3803% in the last 2380 hours, reaching $2320 billion. This surge in the cryptocurrency market has led to a turnaround for Bitcoin Cash (BCH), which has surpassed the $2250 mark and seen a 30% increase in value in the past 24 hours. This sudden increase represents a notable turnaround from its recent decline, as BCH is currently priced at $410, a figure that has not been reached since January 2022. With Bitcoin (BTC) and other alternative coins seeing a strong surge, Bitcoin Cash is standing out as one of the leading winners, showing significant returns in the recent bullish upswing. Bitcoin Cash is drawing interest from investors for regular and small transactions due to its fast transaction speeds and lower fees compared to Bitcoin. The increased popularity of Bitcoin ETFs has also given a boost to the cryptocurrency market, with a significant inflow of $673.4 million on February 28th. Blackrock played a major role in the increase, receiving a record-breaking $3203 million influx on the same day. Nonetheless, the Grayscale Bitcoin Trust (GBTC) experienced its highest outflow ever of $598 million on February 29th. Bitcoin Cash has displayed strong upward momentum, with a 53% increase in the last week and an impressive 72% jump over the past month. Additionally, the RSI curve shows high investor interest and the possibility of continued growth, signaling that the market may be overbought. The amount of trading for BCH has increased by 122% to $1.2 billion, indicating a rise in both activity and trust in the upward movement of Bitcoin Cash. Price chart for Bitcoin Cash (BTC) from TradingView. Bitcoin Cash is showing signs of a resurgence as its price sees a notable increase and a bullish candle forms on the daily chart.