Bitcoin Cash (BCH) has gone up 14% in the last 24 hours and is now at its best level since the middle of June. This happens as Bitcoin (BTC) gets closer to $70,000 after going up 3% in 24 hours.
At the moment, BCH is selling at about $69,503, just a little below its day high of over $69,800. There has been pressure to sell Bitcoin Cash because of possible Mt. Gox sales, but it is still above $60,000, and a big chunk of the $9 billion worth of BTC is going to users.
At the Bitcoin 2024 conference, former US President Donald Trump made important comments about Bitcoin and other cryptocurrencies. This made crypto optimistic as well. Trump said that he would make the US the home of crypto and set up a Bitcoin fund for the country.
There is no fear that the US government will ban crypto, according to Kim Dotcom. The price of Bitcoin Cash has gone up above $400 and is now trying to reach a key resistance zone. If it goes above this, it could set a new all-time high for the year.
A big short-term goal is to reach a psychological level of $1,000. If Bitcoin pulls crypto into another mega run, the market could still go all the way up to its highs in 2021.
