It is safe to say Bitcoin Cash is one of the hottest cryptocurrencies in the world right now. Especially now that Bitcoin is showing plenty of chinks in the armor, investors and speculators are moving to new cryptocurrencies. As a result, we have seen the Bitcoin Cash price appreciate in value these past few days. Right now, the Bitcoin Cash price sits at $3,368, although it’s not unlikely we will see even more gains.

Bitcoin Cash Price Gains add up Nicely

Anyone who bought Bitcoin Cash about a week ago – or even earlier – will be quite happy with how things have turned out. Unlike what most people had expected at this point in time, the Bitcoin Cash price successfully surpassed its previous all-time high of $2,800. In fact, it made that particular all-time high look like pocket change, considering how the new all-time high is recorded at $3,813. This is over $1,000 higher than the previous record, which is incredibly impressive.

Most of these gains have been recorded in the past 24 hours. Just yesterday, it seemed as if the Bitcoin Cash price would surpass $2,500, even though the momentum did not necessarily warrant a new all-time high in quick succession. Then again, the ongoing Bitcoin problems are forcing users to look for alternatives, especially now that the Bitcoin price is struggling quite a bit.  It will be interesting to see how long this momentum can remain in place, as many people have high hopes for a Bitcoin price reversal sooner rather than later.

For the time being, we see a Bitcoin Cash price of $3,368, which is more than respectable. It is also a lot higher than more Bitcoin diehards had expected, as they would much rather see this hard fork disappear altogether. It seems the Bitcoin Cash methodology of on-chain scaling is working in its favor right now, which is a positive sign. We can only hope Bitcoin manages to figure out its own scaling problems sooner rather than later, though. Right now, that seems highly unlikely, but we may receive some pleasant surprises in the future.

Thanks to over $7.75bn in 24-hour trading volume, no one can deny there is a genuine demand to both buy and sell Bitcoin Cash right now. Although people are taking profits along the way, it seems the overall uptrend is still intact. Stabilizing near the $3,000 level would be pretty good for Bitcoin Cash right now, although it remains to be seen how all of this will play out in the coming hours and days. There is some negative pressure on the markets right now, but nothing to be overly concerned about just yet.

Bithumb is definitely leading the markets in terms of Bitcoin Cash trading volume. More specifically, it has over $1.17bn in volume, which is “only” $200m ahead of both Bittrex and Bitfinex. Do keep in mind this is the Bittrex BTC/BCH trading market, which seemingly confirms people are converting their Bitcoin into BCH for the time being. Rest assured this momentum can turn around at any given moment, but for now, we have entered a pretty solid uptrend for all altcoins which offer something Bitcoin isn’t capable of in its current form.

Thanks to the 43.43% gain in USD value and 55.36% gain over Bitcoin, things are looking pretty good for this popular altcoin right now. It is evident people are getting tired of the shenanigans which affect Bitcoin, but it remains to be seen if Bitcoin Cash can withstand a clogged up network in a positive manner. For now, it’s an interesting cryptocurrency ecosystem in every way imaginable, especially with the Bitcoin Dominance Index dropping below 47.5% again. The fireworks begin, but rest assured there is still an ‘end show” to come in the next 11 days.