In the last 24 hours, the price of Bitcoin Cash surged from $287 to $322 by more than 12 percent as the valuation of the crypto market increased by around $4 billion.
Bitcoin Cash is up 12 percent against the USD in the past 24 hours (source: coinmarketcap.com)
The 3 percent recovery of bitcoin led major crypto assets in the likes of Litecoin, TRON, and Ethereum Classic to record relatively large movements against the U.S. dollar.
Bitcoin spiked by more than 20 percent in the past week which played a vital role in changing the sentiment around the cryptocurrency market.
But, relative to tokens and major crypto assets like Litecoin, bitcoin and Ethereum have seen lesser gains throughout the past four months.
According to economist and markets analyst Alex Krüger, the lack of large price movements of BTC and ETH has very little to do with fundamentals.