The chart above shows that the search score for “BCH” stood at 46 as of July 7. But as the Bitcoin Cash’s involvement in the Mt Gox payouts dominated the news reels, there has been a significant increase in Google users’ search hits for information on BCH.
At the time of publication on July 12, BCH search score has now surged to 67, reflecting a 46% increase over the last 5-days alone.
Historically, increased search interest for a particular asset often leads to a demand surge from both existing investors and new users who may discover the project on the trends tables.
Unsurprisingly, the 46% surge in BCH search score over the last five days, has coincided with a 27% price bounce. Hence, as bulls regain control of the crypto markets following positive US economic indices in July, the rising search trends could propel BCH price further toward the $400 level in the weeks ahead.
Bitcoin Cash Price Forecast: $400 Breakout Imminent
Based on the current technical analysis, Bitcoin Cash price is showing strong bullish momentum as it trades at $389.58, having recently gained 33.23% over the past 14 days.
The Parabolic SAR (Stop and Reverse) indicator is currently positioned below the price at $323.80, indicating a bullish trend. This suggests that the momentum is in favor of the bulls, and a break above the $400 resistance level is becoming increasingly likely. If BCH price manages to close above this level, it could pave the way for further gains, with the next key resistance level around $420.
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