Merriam-Webster defines Speculation as "assumption of unusual business risk in hopes of obtaining commensurate gain." In other words "speculating" is guessing or trying to predict the future of financial or otherwise gains. As I mentioned in a earlier article Bitcoin Cash started its run back in 2017 opening at $240.00. In the same year Bitcoin Cash ended up blasting through the roof hitting a whopping all time high of $4,355.62. I am not completely sure what the exact number Bitcoin Cash rose to, at the time, due to conflicting "facts". Some sources has the coin reaching as much as $4,400.00 at some point in 2017. The screenshot below shows the 2017 Bitcoin Cash history. As you can see Bitcoin Cash does look like it reached the $4,400 mark. But I digress...
What Bitcoin Cash did back in the day has nothing to do with what its doing today. Bitcoin Cash's history may has everything to do with what the coin will do in the future. After all this is what speculating is all about, isn't it? People trying to make future decisions based upon past performances. If I were looking at Bitcoin Cash as an investor, which I am, I would be thinking "what goes around comes around". Better yet, what goes down must come up again. Human nature tells us to be observant, to watch for clues. Thus, if we look for clues about Bitcoin Cash past performance we could see a rejuvenation coming. Could the 2017 history be our biggest clue of what's to come with Bitcoin Cash? Maybe...
Even through today February 23rd 2021 Bitcoin Cash is down, much like almost all other cryptocurrency's. Never fear... The speculation game is one of patience and a longterm vision of personal wealth. Financial speculation is the Achilles heel to the person looking to get rich quick. The "Get Rich Quick" mindset almost always guarantees a person will make decisions less than favorable to his or her financial future. Wondering why this article seems to be flip flopping on whether speculating crypto is good or bad? You've stumbled on to the major underlying point of this article. Sense market speculation is an educated guessing game, the only other factor is the psychology of the person doing the guessing.
Good guesser win more often than not, and Bad guesser lose more often than not. So whether you're investing in Bitcoin Cash or some other cryptocurrency, take your time. There is no rush, as new coins and tokens are born almost everyday. Learn the ropes by doing due diligence research. If you are speculating the market, which you will be, do so based on the amount of money you are willing to lose. Don't go overboard with investing, because you think you have a sure thing or inside track. No one to my knowledge has a crystal ball able to see into the future. So play your investments based not on feeling, but better yet on the education time you've put in. When you are looking at a new coin or token to invest in you may have to rely on a bit of gut feeling, but still do your research.
In conclusion. while speculating the financial markets remember everyone is playing the guessing game. Even when listening to professionals, who by the way are also speculating, use your best judgement. It's your money at the end of the day that is won or lost in the battle of making sound financial investments.
Previous article: https://read.cash/@TruSuccessXpert/bitcoin-cash-rise-to-fame-past-and-future-5af807d3
By: Michaelson Williams, tsx
I'm interested in this speculation. Indeed, patience and thoroughness are tools to make choices. Holding on is sometimes better than guessing quickly. however, quick speculation can also give us the ability to add other types of cryptocurrency.