Bitcoin Cash (BCH) experienced a massive spike in buy pressure over the week, breaking above $500 for the first time since March 2022. The Bitcoin fork cryptocurrency’s huge 80% in the past 24 hours comes amid greater attention ahead of its halving this March.
Elsewhere, new crypto project Bitcoin Dogs is making waves within the crypto presale market with a scintillating run to $6.5 million raised in just over two weeks.
Bitcoin Cash rallies as hashrate spikes ahead of halving
Bitcoin Cash (BCH) was trading around $475 on Sunday March 2, slightly off its intraday peak above $527.
The cryptocurrency, which is a fork of Bitcoin, however remained near its highest price level since March 2022. The current price is up nearly 80% this past week. While profit taking is likely to drive BCH lower in the short-term, there’s potential for bulls to reassert their dominance as Bitcoin looks to rally to a new all-time high.
Also notable is Bitcoin Cash’s upcoming halving scheduled for March 24, 2024. With weeks to go and buyers relishing another leg, BCH network hashrate is spiking. According to data on BitInfoCharts, the network’s hashrate has spiked more than 60% in 24 hours to 7.9 EH/s.
With this outlook, BCH price could reclaim $500 as support and seek to break the long-term downtrend line around $750.
If bulls break higher, Bitcoin Cash price could target the previous bull cycle peak near $1,650. BCH is currently above the 20 and 50 exponential moving averages (EMAs). The MACD level also signals continued bullish momentum.
Bitcoin Dogs: Fun and Opportunity on Bitcoin
In 2024, NFTs, gaming and DeFi are projected to be huge trends. Part of this resurgence is poised to happen on the Bitcoin blockchain with the renewed interest in Ordinals and the layer-2 ecosystem on the flagship crypto network.
Bitcoin Dogs is a BRC-20 token project that’s the first-ever to launch its presale on the Bitcoin (BTC) blockchain. Also crypto degens keen to seize the Bitcoin moment as BTC price rallies amid spot ETFs and halving frenzy, see Bitcoin Dogs as a potentially great opportunity.
While fun is the buzzword within this ecosystem, it’s not all about worthless play. Holders of the native 0DOG token can interact, have fun and collect digital dog pets – and earn. On Bitcoin Dogs, every playful moment is a chance to net yield.
With Bitcoin Dogs’ 10k Ordinals NFTs, metaverse and game set for launch in Q2 onwards, the ecosystem bustling with anticipation for when 0DOG makes its debut in the market.
Bitcoin Dogs presale: Big week for 0DOG
Since its launch on February 14, 2024, the market has aggressively snapped up ODOG tokens.
Investors have loved the first-paced ICO – 30 days and 10 stages, with price increasing automatically every three days.
It means anyone looking to scoop some of the 810 million tokens available for the public sale has had to act first. So far, the Bitcoin Dogs presale has raised $6.5 and is rising fast.
The coming week will be key for investors, with the countdown to the targeted ICO end down to less than a week by Sunday. According to details on the Bitcoin Dogs website, the 0DOG presale will end on March 15, just 11 days from today.
If you are looking to add a potential gem to your portfolio, the current 0DOG price of $0.0312 could be a great entry point.
For details about the Bitcoin Dogs project, check their whitepaper.
