Bitcoin Cash jumps by $ 450 by $ 450, BTC is aiming for $ 70,000

Bitcoin Cash (BCH) rose by more than 14 % within 24 hours and wrote down over $ 450, its highest level since mid-June.

BCH grew when Bitcoin (BTC) came within 24 hours within 24 hours of $ 70,000. The digital benchmark assets were traded at around 69,503 USD at the time of the letter on July 29, just below its intraday high of over 69,800 USD, which was achieved during the Asian trading hours.

BCH price: Are the Bitcoin cash bulls back?

Bitcoin Cash, like Bitcoin, has a difficult terrain in the past few weeks in terms of sales pressure in connection with Potential Sales of Mt. Gox .

Bitcoin, however, remains over 60,000 US dollars, with a good part of the breathtaking $ 9 billion to BTC, which had announced the no longer existing cryptopois. This resistance has also been shown by Bitcoin Cash, which continues to ride in a positive mood, since Mt. Gox customer Select Hodl Krypto is also optimistic after the Bitcoin 2024 conference last week, in which former US President Donald Trump made important announcements about Bitcoin and cryptocurrencies. In view of the upcoming elections, Trump promised to make America home to the home of cryptocurrencies and to set up a Bitcoin reserve for the USA, among other important statements.

According to Kim Dotcom, there is no fear that the US government will ban cryptocurrencies.

crypto will experience a big upswing. The fear of crypto bans from the US government is over. Legitimacy is made. The whales did lobbying in all political camps and made it. Since the US dollar becomes weaker, cryptos will increase. My favorite is Bitcoin Cash. https://t.co/dioibcxavj

- kim dotcom (@kimdotcom) 27. July 2024

BCH price forecast

The Bitcoin cash price increases to over $ 400 and the cryptocurrency tests an important resistance zone.

An increase means that the bulls have broken a robust horizontal resistance line. The price is currently testing an earlier support area, above which the Altcoin could target a new annual high.

In this case, the psychological brand of $ 1,000 will be an important short-term goal, while an increase to the highest stalls of the bull market remains possible in 2021 if Bitcoin leads the cryptocurrencies to another mega increase.

BCH price diagram. Source: tradingview

The daily diagram shows that the relative strength index (RSI) supports buyers, as well as the moving average convergence divergence (MACD) indicator.

may experience a new test of the horizontal line before it rises again. However, a collapse will probably push the prices into the primary support area by $ 350.