Bitcoin Cash (BCH) is rallying on the back of a controversy that, surprisingly, isn’t related to Craig Wright. In our previous BCH price predictions, we have reflected extensively on the inherent weakness of the price action of the 5th cryptocurrency that gave traders and investors enough reasons to feel frustrated as the coin had been plodding tediously to the downside over the course of the past 82 days.
But on July 25, the wait for some meaningful bullish action was over as the price had broken out of the descending triangle formation to the upside and went on to gain 43% in little under two weeks, thus finally confirming the recovery from the consequences of the market crash in March.
In all candor, this recovery was long overdue, especially for a top-ranked cryptocurrency that, despite the controversy and other hardships, still boasts the market capitalization of $5,46 billion and an average trading volume of $1,2 billion per day, with Binance being home for the most active BCH traders.
