Bitcoin Cash price is attempting to pare previous losses, and the coin is heading to surpass the three months high that it touched during the latest bull-run. Bitcoin Cash rose at a double-digit rate on Wednesday and is extending the uptrend into today’s trading. BCH coin is up 5% today and trading above the $1,500 level.
Source Image: coinmarketcap.com[1]
The fresh rally in the fourth largest coin is due to its inclusion in London Block Exchange. This support could add to its trading volume and open BCH to a wider audience. Bullish price predictions are adding to its uptrend.
“As we open our doors to UK crypto enthusiasts, we’re listening and acting on what the community wants – and that’s an array of good quality coin options to trade; all backed by a reliable, comprehensive and user-friendly service that they can trust,” Benjamin Dives, CEO of London Block Exchange, said in a press release.[2]
Analysts are Bullish Despite Dramatic Price Growth
Although BCH price rose more than 100% in the last couple of weeks, analysts expect the coin to extend the upside momentum in the days to come. [3]
The move is a continuation of the early April run higher, which saw the price double in the span of 10 days, beginning April 12. “It began with the integration of Bitcoin Cash as a payment mechanism,” said Charles Hayter, co-founder of CryptoCompare. “Now it’s a PR game.”[4]
The planned software upgrade on May 15, which will improve its block size from 8MB to 32MB, is among the catalysts for its price appreciation.
Source Image: tradingview.com[5]
Technical analysts are also sending positive signals to bulls
