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The Sheer Lunacy of the Crypto Market - Bitcoin Cash Still Undervalued
Bitcoin Cash as an asset is probably the most promising in the cryptocurrency field. As some coins will pump without a reason but only marketing and extreme hype, Bitcoin Cash is the only one flying under the radar with amazing recent developments and broad horizons.
With the SmartBCH sidechain development, it initiates the DeFi/NFT phase. Something that besides Ethereum, there had been more blockchains and Ethereum sidechains are still trying to accomplish.
Only the Binance Smart Chain has competed with Ethereum so far, but in the long run, it doesn’t look like a viable solution, mostly because of its centralization issues.
We watch lately, top financial institutions creating cryptocurrency desks and offering trading or investment options for their clients.
Interactive Brokers is the last one, that now offers investment exposure in Bitcoin Cash for its US customers.
These organizations (banks, fund managing firms, top trading rooms) don’t just select cryptocurrencies because of Twitter hype. We have today Interactive Brokers, Grayscale, JP Morgan, SBI Holdings, 21 Shares, Paypal, and many more of these institutions selecting just three or four cryptocurrencies. And Bitcoin Cash is always one of these.
Bitcoin Cash is a top choice for financial institutions when selecting which cryptocurrencies to offer.
Not Cardano, not Polkadot, not any other hype-infested and untested crypto that is still running its testnet in beta mode.
All the above financial institutions did not select any of these:
XRP (Except SBI, being a strategic investor in Ripple's XRP)
Yet, all these cryptocurrencies and many more semi-vaporware are enjoying some kind of investing mania, a hype frenzy that keeps attracting investors with the price action upfront.
All of these cryptocurrencies are above Bitcoin Cash in market cap! This is just unreasonable and explains perfectly why this market is still immature and completely irrational.
Moreover, some of these cryptocurrencies have not been fully developed/tested, but have employed thousands of shills to attack anyone questioning delays in development or even asking questions. On the top of this list is sitting Cardano, which has outperformed every moon indicator there is and has developed no working product yet.
All these institutions prefer Bitcoin Cash, Ethereum, BTC, and Litecoin, with some also selecting ETC for unknown reasons and SBI, including XRP.
Some say that this market is about the news and how they are bullish enough to pump the market to extremes.
Nope. It is Tether/Bitfinex that pumps BTC and also offers some breathing room to Ethereum, that exploded to a $400 Billion market cap due to various reasons (ETHE, DeFi, NFTs).
I am not very sure if there are developments in Litecoin, though, and don’t see it having the same potential as Bitcoin Cash has.
Litecoin is completely forgotten since 2018, when Charlie Lee (Litecoin’s founder) sold all his LTC for an amazing profit, something that was his overall goal when he created Litecoin. Mainly because of this fact, Litecoin never recovered, has absolutely no developments and the only thing that remains is the Litecoin halving every four years to pump the price.
Bitcoin Cash is an exceptional and robust network, with driven developers, an ambitious community, and a loyal fanbase that grows exponentially.
With the development of the SmartBCH, sidechain odds suggest developers of DeFi, NFT, Dapps, and blockchain games will start arriving in the Bitcoin Cash ecosystem.
Bitcoin Cash also seems to be tied to LTC according to charts. This is quite unreasonable and makes many think about the crypto exchange practices and how Tether (USDT) mechanisms work, especially during “market dips”.
How is BTC supported by USDT, and why during dips, BTC always increases in market dominance?
USDT obviously creates support by 99% just for BTC and ETH. Moreover, Litecoin today is nowhere near Bitcoin Cash at any level. How is Litecoin comparable to what Bitcoin Cash is creating?
What Bitcoin Cash has done so far is producing terms for long-term adoption of cryptocurrencies by millions. It is expected with 100% certainty to keep most of its user base and even double it by the end of the year.
SmartBCH is not a typical sidechain that created some kind of native crypto. A native token is not a requirement and doesn’t offer something extra for the user. SmartBCH uses only BCH and, in this sense, it provides ultimate support to Bitcoin Cash.