Bitcoin Cash used to be rank #5 before, it was last year then it fell down below but still in rank 10. When more projects are booming, especially hype coins such as Doge and Shiba Inu, right now as per CoinGecko data at the moment BCH fell at rank #21.. and got $11Billion plus market capitalization.
Are you up for Lambo gains?
If you are up for profit or making Lambo gains, then BCH is not the right one for you as of the moment.
If you check the data, BCH is still negative 83.98% from it's All Time High last December 20, 2017.. but if you'll look from it's all time low, those who bought it that price are still gaining as it was $76.93 far from it's current price $600+. If you entered at $300 per BCH you are still gaining.
BCH doesn't have hype marketing strategy
Only those who truly believe with the ambition of this coin should hodl it for long term. BCH does not have hype marketing strategy, unlike other coins such as Doge, Shiba Inu or even LTC they have this called “army” wherein whatever their leader commands they'll do it in synchronized. If there are poll to vote they're so active in doing that because somehow maybe they are paid by doing so.
Why hodl BCH then?
BCH might not have hype marketing strategy, the price doesn't move big time like others but it's not that bad as it doesn't fall hard. Although the rank fell down, the price per BCH is kinda stable ranging $500-600 per BCH.
It keeps working on scaling to make sure the coin will last until you die, as it has solid utility case. The fundamentals didn't change at all, the goal as peer-to-peer electronic cash never change, the speed of transactions, able to make more transaction than other chains and the fees are still the same, very cheap. Plus the EVM compatibility, where SmartBCH was born.
Transaction counts continue growing
The number of Bitcoin Cash transactions is constantly increasing. It has exceeded the number of LTC transactions a few times. In the coming months, the number of BCH transactions may permanently exceed the number of LTC transactions. Other coins, except ETC, hardly play a role in usage. BTC and ETH are still out of competition, but BCH is catching up. Many are not happy with the BCH price. But I keep saying - think long-term, not short-term. Observe the trend in usage and not the current price.
Source: Telesfor
You can hold BCH if you believe in it, of course it has future.. but it takes time. You know building castle takes time than building an ordinary building.
If you want Lambo gains buy SHITCOINS such as SHIBA INU and DOGE, it's on top 10 it's profitable just don't buy high and sell low.
Closing Thoughts
I hodl BCH for long term purposes, not for short term profit goals. Hodl because you believe on the project, not because it gives you Lamborghini. Isn't it the purpose of hodling? To get rich? NO, the purpose is to be part of it when it finally became successful.
A project that has wide ambition should educate their users for long term visions not for short term that only based on dollar values. That's what BCH is doing.
But this doesn't mean I don't believe in other projects anymore, port diversification is a must and I'll be working on that.
Source: my noise.cash post
Thank you for reading!
Note: Original content unless revamp.
P.S my horror series will continue of course, I am just not in the mood to continue and want to write about crypto.
Date Published: November 4, 2021
Totally agree with you, BCH hold long term, but we can also do some scalping with Shib. Welcome to your cryptos writing, they are very good.