However, things changed when the 25th biggest crypto by market cap saw a single-day rally of 11.46%, as well as a weekly rise of 2.55%, bringing its price to $342.94.
According to Santiment, there was a spike in active addresses starting from around 10 April, coinciding with BCH’s rally.
Another factor that triggered the rally could be that the MVRV Ratio for Bitcoin Cash turned positive around 13 April and hit a value of 2.083%.
What about BCH’s price? A look at the Bollinger Bands revealed that the bands were wide apart, indicating upcoming volatility.
Just to be sure about the volatility, however, we can look at the Relative Volatility Index which clocked in at below 50.
While investors might not be sure whether Bitcoin Cash will ever cross or even match its former ATH, one individual appears to have a lot of faith in the asset.
She has a Masters in Journalism and her areas of study include crypto-regulation, digital society, privacy, and intersectionality.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.