Attention, people! The situation is heating up in the world of altcoins, and Bitcoin Cash (BCH) is in the eye of the hurricane! 🌪️ It seems that the crypto band is in 'altcoin season' mode, putting their cash into riskier assets. This is putting BCH in the spotlight for a price surge that could be historic.
Although today BCH has dropped 2.85%, the truth is that in the last week it has jumped 6%. That means there is a giant force pushing it upwards. What’s the game changer? The pro-crypto environment that is brewing at the regulatory level. Laws like the GENIUS Act and the CLARITY Act (which seems to be approved in October) are making people loosen their wallets and put more money into the market. This goes beyond a simple 'Crypto Week'!
Now, let’s clarify something: Bitcoin Cash does not directly benefit from the GENIUS Act because it does not have its own stablecoin. But, watch out! It gets a slice of the overall market warming thanks to it. And here comes the good part: its value proposition as a payment solution puts it in a great position to take advantage of the CLARITY Act. With clearer rules, BCH could become the preferred option for many merchants in the United States. 🇺🇸
Meanwhile, the altcoin season index has gone from 20 to 53 so far this month. We haven’t reached the 75 that marks a full-blown altcoin season yet, but we’re on our way! Investors are coming back eager to look for alternatives to Bitcoin, and that’s where Bitcoin Cash shines.
How close are we to $1,000?
Since mid-April, Bitcoin Cash has been in an upward channel, and it now seems to have the strength to break it. Currently, it is moving between a strong support of $490 and a powerful resistance of $555. But there is one key signal: its lows have been progressively higher since July, indicating that buying pressure is increasing.
The RSI (an indicator of whether something is overbought or oversold) is already close to the neutral level of 50, after a slight drop eased the pressure a bit. And the MACD (another trend indicator) is already showing signs that a new high is coming.
If BCH manages to break the $555 barrier, the next important stop is the high from December 2024, which is around $640. If that point becomes solid support, the next target is its all-time high of $720. And from there... to the moon! 🚀 We could see the price near $1,000, especially if the CLARITY Act gives it the final push in October. That would be a 90% increase from where we are now!
The play is up in the air, folks. Will we see BCH break all records? Only time will tell, but the move is incredibly interesting! Stay tuned for upcoming updates.$BCH
