Jackie Gleason had a familiar line when he played the get rich scheming Ralph Kramden in the short-lived TV series, "The Honeymooner's." But #BCH is no short-lived, dubious investment. It's a powerhouse investment that is here to stay. Let's look at a brief history and its future.
History of #BCH
Bitcoin has been the dominant altcoin since it's inception. We know that #BCH is a fork created in August of 2017. The price of one coin at the launch was $250. It shot up to $900 in a matter of days.
Originally planned as a mere cryptocurrency, BCH has since evolved to become an investment. If you have been paying attention, your wallet has increased. That's a good sign. You can thank both #Amaury Sechet and #Roger Ver among others for their forward thinking insofar as increasing the block size for the purpose of creating more transactions and for #BitcoinCash to be used for daily financial transactions.
History shows us that at one time #BCH was at its all time high of $3,785.82. Perhaps the two subsequent forks drove down the price but we shall leave that to one's own opinion for now. The question is, what does the future bode for #BCH?
#BCH future
Graph courtesy of #Coindesk. By the way, today in the US, Coinbase, not to be confused with Coindesk, will go public, but it is still wiser to buy #BCH than NASDAQ shares of COIN, since it is far less riskier.
Just in the past 24 hours, the Bitcoin Cash altcoin has increased 22.53 % or $152.12, as of 1:19 p.m. US Eastern Standard Time (EST). Nice rise, right? It is reasonable to expect #BitcoinCash to continue to rise but with some fluctuation. Yes, some eager beaver type people will sell, but wise folks are not selling, they are waiting to buy the eventual dip. Why?
Well, the history of altcoin's reveals something many folks may not be aware of: the 2nd quarter of every year is typically when altcoins spike upwards sharply, hence the phrase "to the moon."
Keep an eye on the daily charts and don't be so quick to sell and wind up crying over spilled milk later. I had a friend who did that with Bitcoin (selling his coins when they topped $7,000 to buy material things). He regrets the decision to this very day. He's back to creating music.
Also keep in mind two very important things: the crypto market is volatile due to unnecessary regulations, stiff competition and people's feelings.
At any rate, in 2018 crypto market pros were predicting Bitcoin Cash to top $800 in 2020. They obviously missed the mark by a bit. Nevertheless, you have to keep in mind that #BCH is tied to Bitcoin. What this means is that like Bitcoin, it is not going to fade into oblivion. BCH is on solid ground. Take it from Roger Ver:
Some of the same crypto market pros expect #BCH to hit between $3,000 and $5,000 going forward. One pro expects #BitcoinCash to spike to $24,000 a coin in a few years, 5 years tops.
Still thinking of selling? I encourage you to reconsider. My suggestion is this: wait for a little downward trend, then buy the dip. If you're thinking of buying an entire coin, all is well, but I would suggest you not buy it in one lump sum. Instead, spread it out over four transactions. We already know the transaction fees are cheap, and definitely much cheaper than Bitcoin. Besides, it is likely to trend downwards slightly and then rebound quickly.
In the short time it took me to write this, Bitcoin Cash rose by $2.00. Be a wise investor. Think #BCH.