Legacy Crypto Tokens Outperform as Bitcoin Crosses $95,000
2024-11-21

As Bitcoin BTCUSD reaches a new all-time high (ATH), surpassing $96,000, the market has seen a resurgence in some of the old crypto tokens. These older coins, including Bitcoin hard forks, have outpaced top-performing tokens, indicating growing demand for BTC-affiliated assets despite the emergence of newer alternatives.
BeInCrypto has analyzed three of the best-performing legacy tokens, which shows that investors are looking for opportunities to capitalize on the Bitcoin hype.
Bitcoin Cash (BCH)
Bitcoin Cash surged by 17.84% in the past day, emerging as the top-performing token and trading at $527 at the time of writing. The rally has reignited investor interest in the altcoin, boosting optimism for further price gains.
The recent rally has propelled BCH to a seven-month high, positioning it near the resistance level of $529. This key level has not been breached since mid-April, making it a crucial target for sustained bullish momentum.
If BCH breaches the $529 resistance, the price could rise toward the next barrier at $593. However, failure to break this level might cause a decline to $501, with further losses invalidating the bullish outlook.
Bitcoin SV (BSV)
Bitcoin SV surged by 11% in the past 24 hours, climbing to a seven-month high of $76.67. The altcoin’s rally has reignited investor interest as it leads today’s crypto market gains.
Marking its first significant rally in over three months, Bitcoin SV is benefiting from BTC’s continued rise to new all-time highs. This momentum has positioned BSV as a top contender in the altcoin space.
To sustain its uptrend, BSV must breach the $77.49 resistance and aim for $80.00. However, losing the $72.42 support could trigger a drop to $65.05, with further declines invalidating the bullish outlook.
BitTorrent (BTT)
BitTorrent price increased by 12% today, reaching $0.000001204. Although it did not achieve any multi-month highs, the recovery mitigated recent losses, suggesting improved sentiment among investors. The uptrend shows potential for further growth.
BTT’s early November rally nearly broke the resistance at $0.000001252. However, its failure triggered corrections. Successfully breaching this barrier is critical for the altcoin to close above $0.000001300 and sustain its upward momentum in the near term.
If BTT faces another failed breach, it could experience further corrections, potentially dropping to $0.000001146. Losing this critical support level might push the altcoin down to $0.000001021, undermining bullish expectations.