The Era Of Bitcoin Cash
There was one reason I invested in Bitcoin in early 2017, while having no idea what Bitcoin exactly was.
That was news of Japan adopting new legislation for Bitcoin as a payment system and an investing option.
The price of BTC was $1000 when Japanese funds began investing, and the whole cryptocurrency market grew to an industrial level afterward.
Today we have several similar indicators that nobody can ignore. These indicators always include Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum (ETH).
The institutional market EDX adopted Bitcoin Cash. Hong Kong regulators adopt Bitcoin Cash. Finance does not consider Bitcoin Cash a security, and Gary Gensler (SEC's head) specified this since 2018.
Bitcoin Cash is one of the Big-4.
The price is up by 40% in just two days after the EDX news.
I am trying to find a reason BCH's price will not keep increasing, but there is none.
Any prediction or investing advice can always go wrong, so please don't go full Didi Taihuttu with any investment.
$100 is support for 12 months now.
Every time this level was broken it quickly recovered.
$100 is support for Bitcoin Cash.
Still, recovery for Bitcoin Cash was also finding difficulties, without any strong bounce and low volumes.
The higher it reached was $160, and that was in July 2022.
Until yesterday we didn't see massive purchases, and the price didn't increase by 20 or 30% in a day, which would signify the beginning of bullish momentum.
However, everything changed.
Bitcoin Cash is finally on course to recover the lost market cap.
The price level of $150 to $160 will have to become the next support. Breaking this resistance and turning it to support will be a positive sign.
Then at $300 again, Bitcoin Cash will meet strong resistance.
However, the fundamentals have changed. Bitcoin Cash can find enough momentum and break through the $300 resistance within a day.
We clearly shouldn't be so eager with the price, though, and more patience is required.
By 2024 investors will be back with massive volumes.
We speculate that retail and institutions will begin buying massively and repeat the market cycles one more time.
This time, it will be different from the previous bull run (2020-2021), as the unregistered token securities that dominated will no longer be the top priority of investors.
Those cryptocurrencies that matter will be PoW coins and perhaps Ethereum too.
The one that makes a difference immediately is Bitcoin Cash.
Bitcoin Cash proves it is the most undervalued cryptocurrency as it jumped by 25% on the bullish news of institutions listing it on the new institutional EDX market, a market that will only allow a low limit of $1 million for purchases.
We can only imagine the amounts of money that will enter Bitcoin Cash. We can easily predict Bitcoin Cash recapturing the 3rd or 4th place in market cap.
Finance is entering Bitcoin Cash at the bottom price of $140. Bitcoin Cash has a decent chance to reach new all-time high prices.
This is not a riddle anymore. It is just four cryptocurrencies (BTC, LTC, ETH, and BCH), and the two of them are already in hundreds of billions of market cap.
Only Bitcoin Cash and Litecoin stand at lower levels.
The price action from now on will follow the positive sentiment.
Anyone is welcome to build and invest. Those that are building today will get the first-mover advantage.
Soon Bitcoin Cash will begin taking a piece of the smart contracts market from Ethereum. With the CashTokens upgrade, developers can utilize smart contracts on the robust Bitcoin Cash blockchain, without having to worry about high fees or network congestion. Literally, no one prefers to get ripped off by Ethereum fees.
The volumes will slowly move to DeFi BCH and at some point massively abandon Ethereum for the next best P2P economy.
Follow me on YouTube: @panteraCrypto
Donations Bitcoin Cash: tipb.ch/Pantera
Cover picture on Pixabay (modified)
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