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cryptonews 2025-03-07 16:14:34

Bitcoin Cash Breaks Out in 40% Surge – Is $1,000 the Next Target?

Bitcoin Cash Breaks Out in 40% Surge – Is $1,000 the Next Target?

Bitcoin Cash has surged past the $400 mark for the first time since early February, posting a 42.6% weekly gain and ranking among the top-performing altcoins . It has held its ground against economic concerns—such as US President Trump’s “tariff war” and NATO tensions—that have weighed on even the strongest altcoins. While the past 24 hours have seen this momentum taper off, with a modest 1.05% climb, a 33% drop in trading volume to $680 million suggests volatility may be easing. BCH Price Analysis: Is $1,000 Next? While $1,000 remains a distant target, the current technical setup points to a mid-term move significantly higher. BCH / USDT 12H chart, falling wedge breakout. Source: TradingView. The recent surge has not only broken out of a small ascending channel pattern but also confirmed a more substantial falling wedge that has been forming since early December. The ascending channel has fully played out, hitting its $411 target. However, the falling wedge suggests a much larger move, targeting $570— a 40% climb from current levels. That said, a brief consolidation seems likely, as the Relative Strength Index (RSI) hovers in overbought territory at 70—often a precursor to corrections. Prices could see a small pullback before building momentum for another upward push. Bitcoin Cash Might Not See the Best of this Bull Cycle Those who jumped to Bitcoin Cash as an alternative to Bitcoin (BTC) may be forced to reconsider as Bitcoin Bull (BTCBULL) offers a new way to capitalize on the leading cryptocurrency’s tailwinds. True to its name, Bitcoin Bull ties its tokenomics to Bitcoin’s price growth in a deflationary model. The project burns tokens and distributes BTC airdrops whenever Bitcoin reaches key milestones—starting at $125,000 and triggering new rewards for every $25,000 climb thereafter. With some analysts forecasting BTC highs of $250,000 this cycle, BTCBULL could become a Bitcoin Maxi’s best friend. With more than $3.3 million raised in its initial month, the project is already gaining strong momentum—potentially credited to its 129% APY on staking, which rewards early investors. You can keep up with Bitcoin Bull on X and Telegram , or join the presale on the Bitcoin Bull website . The post Bitcoin Cash Breaks Out in 40% Surge – Is $1,000 the Next Target? appeared first on Cryptonews .

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