Is it worth to invest in BCH?
With a market cap of $5,473,421,549 and various benefits, investing in Bitcoin Cash in 2021 is definitely worth it. Let’s not forget that Bitcoin Cash has a wide range of advantages over other digital coins. BCH offers transaction fees next to nothing, decentralized financial transactions, relative stability compared to other cryptocurrencies, quick and safe transactions, and robust infrastructure. At the same time, remember that Bitcoin Cash is a high risk and high reward investment.
Cryptocurrencies are highly volatile and trading cryptos can wipe out your savings. That’s why never invest money you can’t afford to lose. Don’t forget one of the main rules in the financial sector: never invest more than 1% of your account on a single trade.
Moreover, if Bitcoin manages to improve its scalability, Bitcoin Cash may lose relevance.
So if you decide to invest in BCH, always do your research and proceed with caution.
BCH is Cheaper
Bitcoin Cash has cheaper transfer fees (around $0.20 per transaction), so making transactions in BCH will save you more money than using BTC. A BTC transaction can cost around $1 USD per transaction, although it previously went up to around $25 per transaction! BCH has faster transfer times.
Given its positive future and advantages over other cryptocurrencies, Bitcoin Cash offers some great opportunities for investors.
But just because you can, that doesn’t mean you should. Before investing in any asset, you should consider its risk-return trade-off and decide on a strategy, either in the short or long-term.
Because no highly profitable investment is 100% safe! Risk management is crucial in order to set stop-limit and stop-loss orders and to reduce risks.
According to Coingecko, Bitcoin Cash (BCH) remains in its 5th rank among the leading cryptocurrencies by market capitalization. At the time of writing, it records a 59.8% annual gain at the price of $343.65.
Bitcoin Cash Price Prediction
So far, the BCH price prediction is leaning to a bullish sentiment; at least until the early months of 2021. Bitcoin Cash has begun to show signs of life after a prolonged consolidation period during the month of November. This is after an unsustained breakout between February to March as well as August to September.
From a macro perspective, the strong resistance levels successfully challenged by Bitcoin Cash bulls are at $320 and $340. In spite of this, a conservative Bitcoin Cash price prediction for 2021 is $250. This is taking into consideration any sudden fluctuations in the market.
On the other hand, the result of the recent hard fork may further affect the BCH price in the long run. Hence, the bullish BCH price prediction for 2021 is $400.