The price of Bitcoin Cash (BCH) has risen just above $500, its highest level in more than a year as trading volumes in the cryptocurrency spiked 22% in the past 24 hours.
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Analysts say the volume surge has broken down short-term resistance levels and allowed the price of BCH to gain nearly 5% over the past day. Launched in 2017, Bitcoin Cash is considered an altcoin or spin-off of Bitcoin (BTC).
Some analysts and investors view Bitcoin Cash as offering faster and lower-cost transactions than the original Bitcoin. Bitcoin Cash has seen multiple volume spikes over the last 24 hours as traders turn bullish on the cryptocurrency and push its price to a fresh 52-week high.
Market Headwinds
The rise in Bitcoin Cash over the last 24 hours comes despite market headwinds such as the escalating conflict between Israel an Iran and U.S.-China trade tensions. The last time Bitcoin Cash was trading this high was in spring 2024 when the price reached nearly $700.
The all-time high for BCH occurred in December 2017 when the price was at $2,981.93 per digital token. So far in 2025, Bitcoin Cash has gained 2%.
Is BTC a Buy?
Most Wall Street firms don’t offer ratings or price targets on cryptocurrencies such as Bitcoin, so we’ll look instead at its three-month performance. As one can see in the chart below, the price of BTC has risen 25.21% in the last 12 weeks.
