The Bitcoin Cash price has jumped 55% in the last  24 hours to trade at $503 as of 7:47 a.m. EST on trading volume that skyrocketed 468% to $2.5 billion.

BCH reached a new 2024 high of $524.78 earlier today as investors anticipate a buoyant market ahead of the Bitcoin halving event in April. 

📈 LONG: #BCHUSD.P | $BCH | 1D

Bitcoin Cash surged 40% due to anticipation for its halving event and adaptive block size limit algorithm, indicating bullish investor confidence.

🔥 Auto Trading Bot: https://t.co/iACV9Wb0Yr pic.twitter.com/nyLMjonrj4

— Crypto | #1 Free Signals (@best_analysts) March 2, 2024

Investors are also buoyant about the upcoming 2024 upgrade, which is expected to introduce an adaptive block size limit algorithm for Bitcoin Cash. This algorithm will automatically adjust the block size limit to lower infrastructure costs during periods of reduced usage while also allowing for a potential doubling of the maximum block size each year during periods of peak growth.

Bitcoin Cash Price Spikes In A Bullish Stance

BCHUSDT Analysis By Tradingview

The Bitcoin cash price has broken above the second cycle consolidation channel, as the support zone at $239 amplifies the recent surge, helping the bulls push the price up. 

Despite the brief pullback, the bulls continued the bullish momentum, driving the price further upwards in a bull rally, breaking the upper boundary of the channel to a $518 high. 

The BCH price action paints a picture of strength and resilience, with the token trading above the 50-day and 200-day simple moving averages (SMAs) currently acting as immediate support for the Bitcoin Cash price. 

The Moving Average cross aligning with the support zone at $239 provides additional confirmation of the overall bullish sentiment, giving strength to the bulls to maintain their bullish stance above the consolidation channel.

Following a sharp rebound from the 50 midline level, the Relative Strength Index (RSI) for BCH indicates a surge, surpassing the overbought level of 70 to reach 91. This indicates intense buying pressure for the price of Bitcoin Cash.

Bitcoin Cash Price May Decline In The Short-Term

The BCH price bulls seem poised to continue the bullish momentum, aiming to achieve new highs. However, the resistance level at $518 may lead to a correction, allowing the bears to drive the price down to recoup their losses and preventing them from further profiting.

Moreover, the RSI  surge into the overbought region may also trigger the bearish trend, helping the bears force a downturn to the $325 support zone. 

Investors looking for lucrative returns could consider diversifying their portfolios with the new BTC-inspired token, Green Bitcoin (GBTC), a Bitcoin alternative that’s piquing the interest of eco-conscious investors.

The token offers also offers huge earnings  via its Gamified green staking model and its Predict-to-Earn features.

A Promising Alternative With 100X Potential

Green Bitcoin (GBTC) is an eco-friendly iteration of Bitcoin focused on environmental sustainability that Bitcoin’s traditional attributes with the eco-conscious characteristics inherent in the Ethereum network. 

It has just surged past $1.5 million in funds raised as it races towards its $1.7 million target.

Predict-To-Earn With Green BTC

Its unique Predict-to-Earn feature allows token holders to predict Bitcoin’s daily price movements. Successful predictions can earn incentives based on the accuracy of the forecast and the amount staked. This gamified approach resets daily, ensuring continuous engagement and participation.

Did you know you can earn HUGE, simply by staking your Green Bitcoin?

If you haven’t yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O

— GreenBitcoin (@GreenBTCtoken) February 25, 2024

To ensure a substantial pool of incentives for accurate BTC price predictions, over 27% of the total token supply is allocated to staking rewards, distributed over two years, according to the project’s whitepaper.

Get Green BTC Now, Earn Rewards Through Staking

Green Bitcoin also employs the Gamified Green Staking model, where token holders can stake their tokens and earn rewards. 

The project aims to incentivize long-term holding by allowing investors to stake their tokens and earn passive income with an impressive 224% annual percentage yield (APY). 

The experts weigh in on GBTC!

Bitcoin Price to Hit $200,000 by 2025: Standard Chartered – Can Green Bitcoin Outperform BTC?https://t.co/w2mT4kp0fo

— GreenBitcoin (@GreenBTCtoken) February 19, 2024

Popular YouTuber and crypto analyst Alessandro De Crypto praises the “Predict-to-Earn” concept and says GBTC could potentially surge 100X upon launch.

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You can buy GBTC tokens at $0.5742 before it increase in less than five days. 

Visit the official GBTC website to swap your ETH or USDT for GBTC tokens on your compatible digital wallet. You can also use your bank card to buy directly.

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• Source: https://insidebitcoins.com/news/bitcoin-cash-price-prediction-bch-soars-55-as-traders-pile-into-this-bitcoin-derivative-ahead-of-the-bitcoin-halving-for-potential-100x-gains