BCH
Bitcoin cash is as of now positioned number nine on CoinMarketCap. It dropped out of the top 10 there for a smidgen, however, now it has worked its way back into the top 10 and got up to number nine. In the previous 24 hours, it is 5.59 percent up and right now remaining at around 1400 dollars. The market capital is as of now at about 26.4 billion dollars and the volume of the previous 24 hours is 8.6 billion. The circumnavigating supply for BCH is 18 million tokens.
BCH was listed on the CoinMarketCap in July of 2017. Just before the last bull run, we saw that it had some significant gains in the last born and it went right to top at a price around 3,600 and we're off by a long shot to its old all-time high. It went through a bear market like a ton of the altcoins did and we are hitting another all-time high during the current year which is around 1.430 dollars however not even close to that 3,600 dollars that we saw back in 2017. Thus, a lot of room, potentially, here for bitcoin cash to grow. I do think this is bullish for the rest of the year and there will be a ton of gains here to be made on BCH. Thus, you folks shouldn't sleep on it, I know there's a ton of negative sentiment in the market.
The Real Coin
Many individuals believe that bitcoin cash is a scam coin for some reasons. It is not a scam coin guys. It's a genuine cryptocurrency and has a very decent use case and we will see a few gains from this coin this year, you would prefer not to sleep on those. There will be a lot of gains, it's going to break past this old all-time high that is the thing that I believe, not financial advisor, but I believe we will break past this old all-time high. I mean we have a couple more months to go on this born. Thus, we will see bitcoin cash break 3600 without a doubt.
Elon Musk's Tweet about BCH
Elon Musk tweeted about bitcoin cash, actually, there was a tweet here from @kimdotcom in which he compares the median fees of BTC and BCH saying that bitcoin's median fee is 8.92 dollars whereas BCH median fee is 0.001, he's basically saying that's why you need bitcoin cash and this was after Elon Musk tweeted that ‘you can buy now buy a tesla with bitcoin’ and he tweeted back at this tweet saying ‘fair point’. Yes, it is indeed a fair point because if you look at it; bitcoin really can't do the transactions at under 10 or even 20. 30. 40 or 50 I mean it can but look how high the fees are but bitcoin cash potentially solves this problem because fees are very low and the transactions are very fast.
BCH vs BTC
Even though BTC had first movers advantage but BCH is serving another great purpose in which BTC absolutely fail. BCH is more of a transaction like if you go to Starbucks and buy a coffee or if you go to the mall and buy some clothes so BCH could be a potential use case for that where bitcoin doesn't really utilize that use case. I believe, bitcoin cash is going to continue to be bullish for the rest of the year.
Another tweet was from the Bitcoin Cash Archive that the central bank of Arab Emirates has described bitcoin cash as money. This is really bullish because if you have a central bank describing a cryptocurrency as money that is very bullish. This is a big announcement this is from @BCH_Archive. So, I'm hoping that's true.
I do believe we will see bitcoin cash at about five thousand dollars sometime this year because there's a lot more room for bitcoin cash to grow and there are a lot more gains to be made. Don’t feel like you are late to the party you guys can still get in bitcoin cash hold it this year and make some substantial gains guys.
Outside of cryptocurrencies, there's really no other investment opportunities where you can make these type of gains so obviously not financial advice but bitcoin cash could be a great cryptocurrency for you to invest in right now and get some substantial gains this year. You just got to be patient with it do not get discouraged that you see a lot of these other alt-coins running up; bitcoin cash will have its time.