BCH Spikes Up 💥 🪙

Following a market boom led by Bitcoin, Bitcoin Cash (BCH) is up a whopping 9.99 percent today (BTC). Following a loss of $272 on Monday, Bitcoin Cash recovered to $309.24 (BCH/USD). A bullish trend that began yesterday and continues today has entirely erased the loss from the weekend.

Bitcoin Cash is back to where it was on Thursday, and it is still rising. This is an unexpected bonus for investors expecting a turnaround after the market took a knock following news of the Ukraine conflict last month.

Competitive effect on another cryptocurrency

Bitcoin is on the same track, having recovered from a decline earlier this month and entirely recovered from Monday's sharp plunge. Bitcoin didn't endure the same sharp collapse as other cryptos on Monday, instead of experiencing a more steady slide punctuated by a few upward bursts. All those previous recent jumps pale in comparison to today's gains of 9.27 percent. Bitcoin has gained the most since the end of last month. If the previous few weeks are any indicator, we may be in for a few days of largely stable action before another downturn.

Bitcoin Cash is more erratic, however, having trouble holding on to the gains it makes and still struggling to get back to where it was this time last month. Ethereum (ETH) has benefitted from a 7.28% gain over the last 24 hours, but Terra (LUNA) has gone up a massive 23%, with XRP (XRP) up 6.23%. As you can see, many of the major players are on bullish trends, but there is the distinct possibility that none of these will last.

The Future

The Bitcoin Cash price was at $380 in late January before a sharp drop-off. It never really recovered from that fall despite a valiant effort in early February. Investors may want to use that as a buy/sell level, investing below the $300 mark and then buying when it shoots past that.

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