Bitcoin Cash Surges 80% Outpacing Bitcoin 53% Gain

Bitcoin Cash (BCH) has experienced a significant surge, gaining over 80% since hitting its lows in early April. This impressive performance has outpaced Bitcoin (BTC), which has risen by 53% during the same period. The altcoin's momentum suggests a positive outlook for its price prediction, although it remains a stretch to claim that BCH will surpass BTC in this cycle.

Despite a recent 6% drop in the past 24 hours, BCH has shown resilience, maintaining a 10% increase over the past month and a 25% gain over the past year. The altcoin's indicators, such as the MACD and relative strength index, suggest that it is close to correcting from overbought positions. However, the lack of institutional interest and spot-based BCH ETFs in the US may hinder its growth.

The absence of Bitcoin Cash in CoinShares' Digital Asset Fund Flows report and the delay in approving multi-crypto funds that include BCH by the SEC highlight the challenges faced by the altcoin. Once such funds receive approval, demand for BCH could accelerate, potentially boosting its price to $500 in the next few weeks and $600 early in the fall.

Bitcoin Hyper (HYPER), a new Solana-based layer two network for Bitcoin, has also shown potential, raising just over $2.9 million in its ongoing presale. As an L2, it aims to provide greater throughput and lower transaction fees for Bitcoin users. The platform's growing ecosystem of DeFi apps and its use of zero-knowledge proofs for validation make it an attractive investment option. HYPER, the native token of the L2, could experience significant demand in the coming months, with investors able to purchase it through the Bitcoin Hyper website.