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The Bitcoin Cash price prediction has taken a more positive turn after Tether reversed its earlier decision to fully discontinue USDT operations on the Bitcoin Cash blockchain.
Tether had initially announced plans to phase out USDT support across five blockchains – including Bitcoin Cash – with redemptions set to end by September 1.
However, in a surprise update, Tether confirmed it will no longer freeze transfers on these networks, though it will still halt new issuance and redemptions.
This shift offers a more favorable outlook for Bitcoin Cash, preserving long-term utility and easing fears of liquidity loss.
Bitcoin Cash Price Prediction: Tether Cancels Shutdown on BCH Chain – Big Updates Coming Soon?
Writing on its website, Tether announced that it has heeded “feedback” from the users and communities of the affected blockchains, and that it has therefore decided it “will not freeze the smart contracts on these networks.”
What this means is that users of USDT on Bitcoin Cash (or Omni Layer, Kusama, EOS and Algorand) can still transfer the stablecoin within their blockchain and to other chains, but that Tether itself will not be supporting new issuance or on-chain redemptions.
Explaining this move, Tether wrote that it aligns with the firm’s “broader strategy, which remains centered on expanding support for ecosystems with the strongest developer activity, scalability, and user demand.”
As such, the latest update is arguably not a major win for Bitcoin Cash, which has not performed well today.
And if we turn to its chart, it’s clear that the token may still decline a little further before recovering in a concerted way.
Its relative strength index (yellow) has recently dipped below 50, yet it may need to drop to 30 or even lower before the coin tempts buyers to return.
The same applies to the coin’s MACD (orange, blue), which turned negative a few days ago, yet recent history suggests that it will also have to fall lower before things really change.
In the longer term, it doesn’t help that there’s no standalone Bitcoin Cash ETF in the works, as there is for Litecoin and Dogecoin, two other major alts derived from Bitcoin.
However, this could change once the current batch of applications gains approval, paving the way for more filings.
In such a context, Bitcoin Cash could climb back to $800 by December, while it could start 2026 close to $1,000.
L2 Bitcoin Hyper Raises $13.2 Million in Biggest Presale of the Summer: Next 100x Alt?
If Bitcoin Cash is too unconvincing for some traders, they may prefer to diversify into newer altcoins with more upside potential.
This may include allocating a portion of their portfolios to presale tokens, which can sometimes rally big when they list for the first time.
One presale coin with a good chance of doing this is Bitcoin Hyper (HYPER), a new layer-two network for Bitcoin.
Bitcoin Hyper has raised a very impressive $13.2 million in its sale, which is growing from strength to strength.
The project has attracted lots of interest from investors, given its plans to launch a layer-two network that will make Bitcoin cheaper and faster to use.
It will harness Solana’s Virtual Machine (SVM) and zero-knowledge rollups, giving it a high level of scalability and security.
The platform’s long-term aim is to become a DeFi hub for Bitcoin, enabling BTC owners to put their holdings to profitable use.
Its native token, HYPER, will have a max supply of 21 billion tokens, and users who deposit BTC with the L2’s smart contract will receive an equivalent amount of HYPER in return for use.
Holders of HYPER will also be able to stake the token for a passive income, making it potentially very profitable.
Investors can join its sale by going to the Bitcoin Hyper website, where it’s currently selling for $0.012835.
This will rise every few days until the presale ends, so new buyers should move quickly.
Visit the Official Website Here
The post Bitcoin Cash Price Prediction: Tether Cancels Shutdown on BCH Chain – Big Updates Coming Soon? appeared first on Cryptonews.
Unlock the Secrets of Ethical Hacking!
Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
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