Welcome to Extreme Investor Network, your go-to source for all things related to the stock market, trading, and Wall Street. Today, we are diving into the world of Bitcoin Cash and exploring how search trends can impact its price movement.
As of July 7, the search score for “BCH” was at 46. However, with Bitcoin Cash making headlines due to its involvement in the Mt Gox payouts, there has been a significant spike in Google searches for information on BCH. Fast forward to July 12, and the BCH search score has surged to 67, marking a 46% increase in just five days.
It’s no secret that heightened search interest often translates to increased demand from both existing investors and new users exploring the trending asset. In line with this trend, the 46% surge in BCH search score has coincided with a 27% price bounce. With bulls taking charge of the crypto market post-positive US economic indices, the rising search trends could potentially push BCH price closer to the $400 mark in the coming weeks.
Looking at the current technical analysis, Bitcoin Cash is displaying strong bullish momentum, trading at $389.58 with a 33.23% gain over the past 14 days. The Parabolic SAR indicator is signaling a bullish trend with a potential breakout above the $400 resistance level. A successful close above this level could open the doors for further gains, with the next key hurdle around $420.
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