- Bitcoin Cash (BCH) recently broke the $200 barrier after weeks of volatility.
- BCH investors saw substantial profits for the first time since mid-June.
- BCH’s daily trading volume has reduced by approximately 56.53%.
Bitcoin Cash’s
Santiment, a leading cryptocurrency market, and transaction analysis platform, has revealed that Bitcoin Cash (BCH) investors have experienced substantial profits for the first time since mid-June. On August 30, Bitcoin Cash demonstrated a notable 15% price surge, reversing its previous weeks’ downward trajectory. This unexpected uptick in price has significantly bolstered investor sentiment towards Bitcoin Cash.
Surge in Whale Activity Noted in Bitcoin Cash
The report from Santiment highlighted a slight uptick in BCH whale activity recently. Furthermore, the yields from active BCH trading over the past month and year surpassed the average range again. This surge in whale activity was followed by a notable increase in BCH value, yielding profits for both short-term and long-term investors. The escalation in whale activity is anticipated to be a crucial driver for further price appreciation.
Bitcoin Cash has recently been oscillating within the $180 to $190 range. A swift uptick in value enabled BCH to breach the $200 threshold once more, following a two-week hiatus. Nevertheless, this bullish momentum in BCH was short-lived. The asset began to depreciate following its abrupt ascent. Despite this downturn, BCH maintains a trading value north of the $200 mark.
As of the latest update, Bitcoin Cash is currently valued at $213, reflecting a more than 3.03% decrease in the past 24 hours. CoinMarketCap data indicates that BCH’s daily trading volume has significantly reduced, approximately 56.53%.
