In the past 24 hours, the cryptocurrency Bitcoin Cash (BCH) has shown an impressive growth of 12.9%, reaching $368. This momentum coincided with changing political dynamics in the US and a rise in market capitalization.

Bitcoin Cash Growth and Its Causes

Bitcoin Cash was created in 2017 as a hard fork of Bitcoin to address scalability issues. Historically, its price often followed Bitcoin, a phenomenon known as the 'Bitcoin effect'. Recently, interest in cryptocurrencies from US political circles has positively influenced BCH prices.

Current Technical Analysis

Data from CoinGlass shows that open interest in BCH futures has risen from $180 million on October 9 to $236.8 million. This indicates increased investor activity. Positive sentiment is confirmed by 98% of traders on CoinMarketCap expecting short-term price gains.

Prospects for Further Growth

Technical analysis shows several bullish trends. Analyst Dom noted a 'falling wedge' pattern formation, predicting a rise to $430. Other analysts suggest price increases of 30-40% and even up to 900%, reaching $3,745.

Thanks to positive changes in the political scenario and favorable technical indicators, future prospects for Bitcoin Cash may prove to be very successful.