Bitcoin Cash price prediction: BCH gains 10% and extends bull run – What’s happening?

Bitcoin Cash price prediction: BCH gains 10% and extends bull run - What's happening?

The Blockchain Industry: A Road to Prosperity

Source: TradingView

The blockchain industry continues to evolve and flourish, offering immense potential for investors and enthusiasts alike. One notable player in this space is Bitcoin Cash (BCH), which has recently experienced a surge in value. With a 1.5% gain within 24 hours and a remarkable 12% rise in a week, BCH is catching the attention of investors looking for promising tokens1. Whales are accumulating BCH, as evidenced by the significant increase in trading volume, which soared from $70 million over the weekend to nearly $500 million currently2. This surge in interest has led to BCH’s remarkable performance, with a 23% increase in the last month and an astounding 142% rise since the beginning of the year3. Such positive momentum indicates that BCH may continue posting gains in the coming days and weeks4.

Insights into BCH’s Bull Run

BCH has become one of the most bullish tokens in the market thanks to strong buying pressure. The relative strength index, a key indicator for market conditions, is nearing 70, signaling considerable buying interest5. However, this also raises the possibility that BCH’s rally could soon peak6. Additionally, the altcoin’s 30-day moving average has consistently surpassed its 200-day average, indicating a potential market correction in the future7.

While it is reasonable to expect BCH to eventually return to lower levels, those who enter the market now may still have an opportunity to ride the token’s upward trend8. In fact, the recent breakout above the 30-day average suggests that the token’s momentum is still strong9.

One must wonder what has spurred this BCH rally. Interestingly, whales and large investors appear to have initiated the accumulation of BCH, contributing to the increased trading volume10. Furthermore, BCH has experienced significant growth since the launch of EDX, a US-based exchange backed by prominent institutions like Fidelity and Charles Schwab11. As one of only four tokens supported by the platform, including Bitcoin, Ethereum, and Litecoin, BCH has benefited greatly from this market exposure12. Additionally, the Securities and Exchange Commission’s actions against Coinbase and Binance, targeting numerous altcoins but sparing BCH, BTC, LTC, and ETH, have helped propel BCH’s momentum13. These favorable circumstances have allowed BCH to maintain impressive momentum in recent weeks, with more attention being directed towards the altcoin due to regulatory concerns14. If this trend persists, experts predict that BCH may reach $250 in the near future15.

Discovering New Opportunities: Bitcoin Minetrix

While BCH’s performance is unquestionably remarkable, it is not the only cryptocurrency exhibiting promising potential in the market. Among the newcomers, Bitcoin Minetrix (BTCMTX) stands out as an innovative tokenized cloud mining platform16. This platform aims to democratize access to Bitcoin mining, offering an alternative to the traditional approach of owning expensive and specialized hardware17.

Bitcoin Minetrix has already gained significant interest, raising over $150,000 during its presale phase18. The concept behind BTCMTX is simple: users stake their tokens to obtain tokenized mining credits, which can be redeemed for actual Bitcoin mining19. Essentially, users can earn mined BTC as a reward by staking enough BTCMTX tokens20.

Operating on the Ethereum blockchain, the BTCMTX token has a maximum supply of 4 billion, with 1.4 billion allocated to the presale phase21. Interested investors can participate in the presale through the official Bitcoin Minetrix website, with 1 BTCMTX token priced at $0.01122. The presale will consist of ten stages, gradually increasing the token’s price before it lists on various trading platforms, potentially becoming one of the most successful listings of the year23.

Conclusion

The blockchain industry is an ever-evolving landscape, with tokens like BCH and Bitcoin Minetrix leading the way. BCH’s recent rally, driven by increased interest from whales and large investors, highlights its potential for continued growth2425. As for Bitcoin Minetrix, its tokenized cloud mining platform offers a novel approach to Bitcoin mining, democratizing access for users across the globe26. With opportunities like these emerging in the blockchain industry, investors and enthusiasts can venture towards a prosperous future.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.


  1. Source: TradingView↩︎

  2. Source: TradingView↩︎

  3. Source: TradingView↩︎

  4. Source: TradingView↩︎

  5. Source: TradingView↩︎

  6. Source: TradingView↩︎

  7. Source: TradingView↩︎

  8. Source: TradingView↩︎

  9. Source: TradingView↩︎

  10. Source: TradingView↩︎

  11. Source: TradingView↩︎

  12. Source: TradingView↩︎

  13. Source: TradingView↩︎

  14. Source: TradingView↩︎

  15. Source: TradingView↩︎

  16. Source: Bitcoin Minetrix↩︎

  17. Source: Bitcoin Minetrix↩︎

  18. Source: Bitcoin Minetrix↩︎

  19. Source: Bitcoin Minetrix↩︎

  20. Source: Bitcoin Minetrix↩︎

  21. Source: Bitcoin Minetrix↩︎

  22. Source: Bitcoin Minetrix↩︎

  23. Source: Bitcoin Minetrix↩︎

  24. Source: TradingView↩︎

  25. Source: TradingView↩︎

  26. Source: Bitcoin Minetrix↩︎

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