Bitcoin Cash (BCH) has seen a remarkable 106% rise year-to-date and is poised for a 50% rally by December 2024. Analysts credit strong technical patterns and Bitcoin’s (BTC) rapid climb toward $100,000 for this bullish outlook.

Key Highlights:

BCH trades at $532 as of November 23, 2024, surging 50% since Trump’s pro-crypto policies reignited the market earlier this month.
Bitcoin reached $99,655 this year, a 120% increase, boosting BCH’s momentum.
BCH shows a strong correlation with Bitcoin, with a coefficient of 0.97, reflecting BTC’s influence on its price.

Technical Insights:

Post-Halving Rally: BCH historically rallies after Bitcoin halvings, as seen in 2020 when it surged 640%. A similar pattern indicates a target of $709.
Falling Wedge Breakout: BCH broke out of this bullish pattern, signaling another push to $709.

More Room to Grow:
BCH’s RSI is below 70, indicating more upside potential compared to Bitcoin, which is nearing overbought levels.

Key Levels to Watch:

If BCH breaks the $755 resistance, it could set the stage for substantial growth in 2025.

For more insights https://markets.coinpedia.org/bitcoin-cash/