Bitcoin Cash price is attempting to pare previous losses, and the coin is heading to surpass the three months high that it touched during the latest bull-run. Bitcoin Cash rose at a double-digit rate on Wednesday and is extending the uptrend into today’s trading. BCH coin is up 5% today and trading above the $1,500 level.
The fresh rally in the fourth largest coin is due to its inclusion in London Block Exchange. This support could add to its trading volume and open BCH to a wider audience. Bullish price predictions are adding to its uptrend.
“As we open our doors to UK crypto enthusiasts, we’re listening and acting on what the community wants – and that’s an array of good quality coin options to trade; all backed by a reliable, comprehensive and user-friendly service that they can trust,” Benjamin Dives, CEO of London Block Exchange, said in a press release.
Analysts are Bullish Despite Dramatic Price Growth
Although BCH price rose more than 100% in the last couple of weeks, analysts expect the coin to extend the upside momentum in the days to come.
The move is a continuation of the early April run higher, which saw the price double in the span of 10 days, beginning April 12. “It began with the integration of Bitcoin Cash as a payment mechanism,” said Charles Hayter, co-founder of CryptoCompare. “Now it’s a PR game.”
The planned software upgrade on May 15, which will improve its block size from 8MB to 32MB, is among the catalysts for its price appreciation.
Source Image: tradingview.com
Technical analysts are also sending positive signals to bulls for the possible price appreciation. They claim that moving averages and oscillators are showing the continuation of the uptrend. Based on the trading view technical analysis, the majority of analysts are suggesting buying BCH coin albeit sharp bull-run in last month.
Featured Image: Twitter