Bitcoin Cash (BCH) price increased by 33% this week.
With a 12% daily price surge, BCH is set to reach the 3-digit mark soon. Bitcoin Cash is witnessing a significant price surge over the past few days. Since its bull run at the end of 2024, BCH has been trending downwards. However, its price started to recover a couple of days ago and is recording two-digit price rises. Meanwhile, market analysts are forecasting whether BCH can sustain its momentum in the coming weeks.
Bitcoin Cash (BCH) Price (Source: CoinMarketCap)
BCH is trading at $398.38 at press time, with an 11.56% daily surge and a 32.58% weekly surge. The rise in its trading volume of 88.45% reflects increased investor interest in BCH. Its market cap has also increased by more than 10%, currently standing at $7.9 billion.
The BCH price rise is gaining traction across the market as it outshines the performance of several top altcoins, including Bitcoin. While BTC price has only increased by 2.40%, Ether witnessed a 1.93% surge, and XRP rose by 3.41%. Even Solana and Dogecoin prices increased by only 2.74% and 3.24% respectively.
Will Bitcoin Cash (BCH) Sustain its Price Rally?
Bitcoin Cash (BCH) price found support levels at $279.2 and $299.7 last week. At the time of writing, it is trading at $394.75 and briefly touched the $418 mark earlier today. If the rally continues, it could surge past the $400 mark and reach even higher price levels.
Since Bitcoin is facing extreme volatility in the present times, investors might start considering alternative investments. Bitcoin Cash (BCH) and Bitcoin SV are the top two alternatives to Bitcoin since they emerged from the original Bitcoin source code.
Meanwhile, the hype around the White House Crypto Summit could also be one of the reasons behind the BCH price rally. As per TradingView, RSI indicates 66, which shows there is potential for further price rally of Bitcoin Cash.
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