Bitcoin Cash (BCH) is in the spotlight after recording the best price surge in months. Per current data, Bitcoin Cash is changing hands for $449.69, up by more than 14% in the past 24 hours. This uptick has placed it above Bitcoin (BTC), XRP, Shiba Inu (SHIB) and even the top 100 cryptocurrencies by market cap.
Bitcoin Cash breakthrough
That Bitcoin Cash is leading the market momentum at the moment is perhaps a very shocking trend for members of the community. Earlier this month, speculations were high as the digital currency faced the risk of massive liquidation amid Mt. Gox repayments to customers.
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With thousands of BCH listed in the refund move, experts projected that many might sell off their Bitcoin Cash for the more valuable Bitcoin. This sentiment fueled a drawdown in the price of Bitcoin Cash in the past, as many unrelated Mt. Gox addresses sold off in order not to get caught up in the likely crash.
Over the month, the negative sentiment only played a role in triggering a massive discount in the price of the coin. With the latest price uptick, BCH has pared off its losses in the past month, and its trading volume has jumped by over 40% in the past 24 hours to $485,070,232.
BTC-Altcoin slowdown
While Bitcoin Cash is on a rampage with its growth trend, it finally outshined BTC for the first time this month. Bitcoin is up 2.75% to $69,406.30% and XRP is trading at $0.6060, down by 0.31%, while Shiba Inu has seen a 1.59% uptick to $0.00001719.
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It remains uncertain how long Bitcoin Cash will remain at this level, but for now, flipping Polkadot (DOT) in the rankings marks a viable goal in the short term.
