Bitcoin Cash

Satoshi

2024

Bitcoin

DeFi

<div class="finbold">
 <p class="paragraph">Bitcoin Cash (BCH) has registered massive gains in the last few days, carving a 58% green candle on March 2. Meanwhile, the network’s <a rel="noopener noreferrer nofollow" title="hashrate" href="https://thebittimes.com/tag/hashrate.html">hashrate</a> <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a>d to an all-time high <a rel="noopener noreferrer nofollow" title="record" href="https://thebittimes.com/tag/record.html">record</a>, which can fuel a continuation.</p>
 <p class="paragraph">Notably, Bitcoin Cash has a $9.40 billion market cap – 130 times lower than the $1.20 trillion Bitcoin (BTC). Both originated from the same chain, created by Satoshi Nakamoto, and followed different paths in 2017 during the blocksize wars.</p>
 <p class="paragraph">As of writing, BCH trades at $479, while BTC is at $61,840. This evidences the huge gap between them despite having the same economic fundamentals. Interestingly, Bitcoin Cash is rallying 78.5% in the weekly candle, moving from $268.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <p class="paragraph">The recent surge is a continuation of the 185% gains observed in the two final weeks of July 2023. In particular, BCH broke from the 50-week exponential moving average (EMA), ranging slightly above the EMA since then.</p>
 <p class="paragraph">Now, Bitcoin Cash tests a multi-year resistance and previous support in 2021. Breaking out from this zone could drive BCH’s price to last cycle’s highs at $1,642.5, for 240% gains.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/03/03/0c19ab031c332fc0d08a6a65633b0e0b.webp" alt class="wp-image-158379" srcset="https://cdn.thebittimes.com/images/2024/03/03/0c19ab031c332fc0d08a6a65633b0e0b.webp 1024w, https://cdn.thebittimes.com/images/2024/03/03/0c19ab031c332fc0d08a6a65633b0e0b.webp 300w, https://cdn.thebittimes.com/images/2024/03/03/0c19ab031c332fc0d08a6a65633b0e0b.webp 768w, https://cdn.thebittimes.com/images/2024/03/03/0c19ab031c332fc0d08a6a65633b0e0b.webp 1536w, https://cdn.thebittimes.com/images/2024/03/03/0c19ab031c332fc0d08a6a65633b0e0b.webp 1876w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH/USD weekly price chart. Source: <em>TradingView</em> (Finbold)
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 </figure>
 <h2 class="wp-block-heading" id="h-bitcoin-cash-hashrate-seeks-an-all-time-high">Bitcoin Cash hashrate seeks an all-time high</h2>
 <p class="paragraph">In the meantime, cryptocurrency miners appear to have turned their mining equipment to the Bitcoin Cash network. The average hashrate is 8.01 EH/s on March 3, a 102.5% surge in the last 24 hours. This data is from <em>BitInfoCharts</em>.</p>
 <p class="paragraph">Interestingly, this value nears BCH’s hashrate all-time high of August 23, 2017, amid the chain split. Bitcoin Cash was trading at around $700 and reached a price all-time high of $4,300 a few months later.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="287" src="https://cdn.thebittimes.com/images/2024/03/03/0271d26c29cdb58c0956f6f9e997b7dd.webp" alt class="wp-image-158380" srcset="https://cdn.thebittimes.com/images/2024/03/03/0271d26c29cdb58c0956f6f9e997b7dd.webp 1024w, https://cdn.thebittimes.com/images/2024/03/03/0271d26c29cdb58c0956f6f9e997b7dd.webp 300w, https://cdn.thebittimes.com/images/2024/03/03/0271d26c29cdb58c0956f6f9e997b7dd.webp 768w, https://cdn.thebittimes.com/images/2024/03/03/0271d26c29cdb58c0956f6f9e997b7dd.webp 1536w, https://cdn.thebittimes.com/images/2024/03/03/0271d26c29cdb58c0956f6f9e997b7dd.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin Cash hashrate historical chart. Source: <em>BitInfoCharts</em>
  </figcaption>
 </figure>
 <p class="paragraph">Essentially, a network’s <a rel="noopener noreferrer nofollow" title="hashrate" href="https://thebittimes.com/tag/hashrate.html">hashrate</a> is an important metric for the fundamental <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of proof-of-work cryptocurrencies. The <a rel="noopener noreferrer nofollow" title="hashrate" href="https://thebittimes.com/tag/hashrate.html">hashrate</a> plays a significant role in blockchain security and highlights players’ interest in profiting from and supporting a given network.</p>
 <p class="paragraph">Moreover, the recent <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> demonstrates Bitcoin Cash’s resilience and ability to continue to attract capital despite the challenges. Differently from BTC’s mostly speculative demand, BCH thrives as an efficient medium of exchange and a more scalable version of the leading cryptocurrency.</p>
 <p class="paragraph">The BCH community is dedicated to increasing awareness and adoption of Bitcoin as a worldwide electronic cash system. Recently, developers have also launched CashTokens, joining the DeFi and Web3 movement that became popular in the market.</p>
 <p class="paragraph"><strong><em>Disclaimer: </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-cash-price-prediction-amid-record-hashrate-surge-tbt81475.html">https://thebittimes.com/bitcoin-cash-price-prediction-amid-record-hashrate-surge-tbt81475.html</a></p>

Bitcoin Cash price prediction amid record hashrate surge

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