The often undervalued BCH or Bitcoin Cash observed a tiny bounce over the last week, inching above $280 with an overall recovery of over 13%. Although this recovery might offer little exhilaration to some, considering the coin’s prevailing range between $250 and $330ish.
The currency’s slack growth could be attributed to investors catching their breath after witnessing a 3-times price upsurge in the latter phase of June, which was reportedly triggered by the news of BCH’s inclusion in the recently launched EDX Markets. Supported by financial giants like Fidelity, Charles Schwab and Citadel, the exchange is speculated to stand in better standing with the regulators than its rival Coinbase.
Given the fact that Bitcoin Cash owes its inception to the scalability and transaction speed restrictions of the original Bitcoin, its robust performance since June, making it the top performer in the top 100 by market capitalization with an approximate 150% rise, shouldn’t come as a surprise.
This surge has left many wondering, is it too late to buy Bitcoin Cash? While, the recent breakthrough from its stalemate of 1 year in the range of $90-$160 appears to hint at a long-term bullish impulse, the coin has still underperformed compared to its past high of $1,600 in May 2021. Furthermore, its peak hit in 2017 was a remarkable $4,300. However, the coin’s bottlenecks in the competition with Bitcoin adoption rate queers the pitch of ever returning back to its heights of 2017.
If the speculation of the inception of a new crypto bull market holds any merit, BCH could still pull off an impressive performance. And considering its current price in the light of past performance, it certainly doesn’t seem too late to embrace BCH.
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Source: Cryptonews
