This past weekend has been rather interesting for Bitcoin Cash supporters, to say the very least. After last week’s massive pump, it seemed the weekend would ultimately result in a big correction. That hasn’t happened entirely, although the Bitcoin Cash price dipped below $600 again. Ever since, things are looking positive again for this popular altcoin. Reaching $650 again shouldn’t be too difficult whatsoever.

Bitcoin Cash Price Recovers From a Rough Weekend

Most altcoins are slowly getting on their feet again after suffering from some major losses last week. With the Bitcoin price momentum still in bullish mode, it is only normal altcoins would bleed value left, right, and center. Bitcoin Cash was one of the few to successfully buck this trend, even though no one’s entirely sure why this price increase has happened last week. Nor does anyone know why the Bitcoin Cash price is going up right now either.

Regardless of the reasoning behind it, the Bitcoin Cash price has risen by another 6.35% in USD value. Moreover, it gained another 8.18% on Bitcoin itself after a somewhat troublesome weekend. The past two days saw a small correction for BCH, although that was only to be expected. After the massive gains earlier last week, it was only a matter of time until profit-taking would briefly outweigh people effectively attempting to pump the Bitcoin Cash price to new heights.

Right now, this uptrend is back in effect, although it remains to be seen how things will play out. There is a real chance the Bitcoin Cash price will surpass $650 before the day is over. Whether or not it can stabilize around that price point, is a different matter altogether. There is still a lot of profit taking to be done by people who bought in during the previous rally. At the same time, there are lots of people who bought at the top and are still chasing profits as well.

With nearly $1bn in 24-hour trading volume, things look pretty solid for Bitcoin Cash right now. The demand is certainly there, even though it still mainly originates from South Korea. With a lot of Bithumb pumpers switching over to Ethereum Classic, it will be interesting to see if this affects the Bitcoin Cash price at all. No one knows for sure how things will play out in this regard, but there is no reason to despair just yet either.

Bithumb has a clear lead over all exchanges with a BCH trading market right now, though. Their volume is almost four times as high as HitBTC’s, which has suddenly become the second-largest platform ranked by BCH trading volume. Bitfinex completes the top three, further confirming Korean traders are moving onto the next coin to pump and dump. An interesting situation to keep an eye on, as a lot can change in the hours and days to come.

For the time being, things are still looking pretty solid for the Bitcoin Cash price. Whether or not things will go up from here or correct further, remains to be determined. The speculative side of Bitcoin Cash certainly allows for either of those outcomes to come true in the next few days. With the Bitcoin price struggling a bit, it seems to be only a matter of time until altcoins start making some major gains again. Them again, Bitcoin may very well push toward $8,000 as well.