Is It Too Late to Buy Bitcoin Cash? BCH Becomes Best Performer of the Week While Web3 Trading Alpha Platform LPX Raises $1,000,000
An intense price melt-up in Bitcoin Cash (BCH) that started just over a week ago has continued on Thursday.
BCHUSD was last changing hands to the north of $240 per token, up 120% versus its opening levels from last Wednesday around $110, having gained another 7% on the day.
The trigger for Bitcoin Cash’s rally last week was its listing on a much-hyped new cryptocurrency exchange called EDX Markets, which has the backing of major financial institutions like Citadel, Fidelity and Sequoia Capital.
Bitcoin Cash was created back in August 2017 as a result of a hard fork from the original Bitcoin blockchain.
Its creators launched the new blockchain to address the limitations of bitcoin such as problems relating to its scalability and transaction speed.
Bitcoin Cash’s strong recent performance means that it is the best-performing cryptocurrency in the top 100 by market capitalization over the past seven days, as per CoinGecko.
The strong rally over the past week has some crypto investors concerned that they might have missed their chance to buy BCH on the cheap.
Is it too late to buy Bitcoin Cash, they might now be asking.
Well, while the cryptocurrency’s strong breakout from the $90-$160ish range it was stuck within for around one year certainly seems to signal a longer-term bullish impulse, BCH is still a long way down from previous all-time highs.
Back in May 2021, Bitcoin Cash rose as high as the $1,600s, more than 6x up versus current levels.
Meanwhile, back in 2017, BCH at one point went as high as $4,300.
The cryptocurrency’s struggles to keep pace with Bitcoin’s adoption rate means that a return to these 2017 highs may never happen.
But if we are in the early stages of a new crypto bull market, BCH could still do very well.
With the
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