RATE Group | Bitcoin Cash Hits Seven-Month High as Altcoins Explode in Tandem
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Bitcoin Cash Hits Seven-Month High as Altcoins Explode in Tandem

05 Feb Bitcoin Cash Hits Seven-Month High as Altcoins Explode in Tandem

Posted at 15:10h in Bitcoin News by

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Bitcoin Cash (BCH) registered a mind-bending price rally on Wednesday as traders moved capital into the altcoin market en masse.

The fourth-largest cryptocurrency surged by up to 12.93 percent to establish a new yearly top at $428.80. The move uphill helped BCH’s market cap to swell from $6.87 billion to $7.74 billion, making it the best intraday gainer among the top-10 cryptocurrencies.

bitcoin cash, cryptocurrency

Bitcoin Cash confirms an uptrend after registering a massive intraday rally on Wednesday | Source: TradingView.com, Coinbase

Bitcoin Cash’s gains came amidst similarly wild upside moves in the altcoin market. XRP, the third-largest token, surged by more than 9 percent on a 24-hour adjusted timeframe. The second-leading Ethereum, at the same time, registered 5.66 percent gains. Meanwhile, an otherwise underperforming EOS too surged by more than 8 percent.

On the whole, the altcoin market added circa 3.75 billion to its valuation on Wednesday, with Bitcoin Cash attracting the maximum capital.

Golden…

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