Bitcoin Cash (BCH) shows potential for a new bull rally in light of significant investors and Fed expectations

Bitcoin Cash (BCH) has rebounded, returning to the $220 mark following a cryptocurrency market price correction. This recovery comes in the wake of increased interest from cryptocurrency whales who have increased their BCH holdings by $15.5 million. Despite a previous price drop of 19%, significant investors have expressed confidence in the cryptocurrency's potential.

One of the key factors that could influence future trends for Bitcoin Cash is the decision by the United States Federal Reserve (Fed) on interest rates, expected on September 20th. Economic analysts predict that the Fed may keep rates frozen, which could serve as an incentive for whales to continue actively accumulating BCH and increasing buying pressure following the Fed's meeting.

However, it's worth noting that despite the price recovery of BCH, retail investors have maintained relatively low interest in this cryptocurrency. Social dominance metrics indicate that BCH doesn't garner as much attention on social media platforms as many other projects. This suggests that BCH still has significant growth potential, as retail investors may join the rally if prices continue to strengthen.

Price forecasts for Bitcoin Cash suggest the possibility of reaching the $300 level, especially if the cryptocurrency market positively reacts to the Fed's decision. In the In/Out of Money Around Price charts, support from BCH holders is reflected, and if the price consolidates above the $245 level, the coin may target $300. However, in the event of a drop below $220, BCH can expect support from holders who acquired the asset at lower prices, potentially preventing further significant declines.

Furthermore, it's worth noting that Bitcoin Cash has demonstrated its ability to react quickly to market factors and recover after a correction. This underscores the resilience and intrinsic potential of this cryptocurrency.

It's also essential to highlight that whales continue to actively accumulate Bitcoin Cash, indicating long-term confidence in this asset. Their participation may further support the cryptocurrency's growth in the near term.

Despite the expected response from retail investors to positive market signals, Bitcoin Cash remains in the shadows for now, with relatively low social dominance on social media platforms. This could leave room for additional growth when the asset attracts more attention and interest from the broader public.