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Holding BCH will save the day

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Avatar for annayks
Written by   122
6 months ago

Since February the market is not so profitable anymore. Some altcoins managed a pump and unfortunately Bitcoin Cash is still not worth as much as I would expect it. For the time being I am not investing in anything else and 90% of my investment is in Bitcoin Cash.

We see other crypto rising and doubling up in two days for no reason at all. Let's face it besides Ethereum, the next most used blockchain for the time being, it is Bitcoin Cash.

In fact I am bearish on BTC and anything else except Bitcoin Cash and Ethereum. The last two months it was not as easy as previously to make money. Some sudden pumps and risk buying inflated altcoins at very high prices, that were dangerous of dropping by 20% in just a 15 minute candlestick.

In a previous post I explained how the Crypto market valuation is currently more in market cap than the whole US banking market cap. It is a very bearish indicator that makes all the crypto market looking at a very bad peaking point.

I didn't explain a lot my strategy and portfolio. With this kind of price levels I only invest in those cryptocurrencies that were not in the whales radar and were left behind some useless projects that do not even have a product ready. I find Bitcoin Cash to be in position reaching the third place in market cap and even higher.

In the current conditions that are not very bullish but possibly at a point of no return, it is going to be Bitcoin Cash that will save the day. Thus, I am invested 95% in BCH and 5% left in Ethereum. This is my final decision in the last few weeks and I am willing to ride any waves and any change of market trends. I still hold 5% in Ethereum but this is the minimum I can have in this platform. It doesn't go lower because often opportunities will come and holding enough for fees is important. You can't claim any airdrop or transfer tokens that suddenly pump 1000% to an exchagne without having ETH for gas for at least 50 transactions as a backup.

Otherwise I would be 100% in Bitcoin Cash as this is the only one that has a good reason to break out and challenge Ethereum once again. Back in 2017 Bitcoin Cash did reach second place. It will do it again and there will be another challenge of Bitcoins dominance by other cryptocurrencies.

At a market correction that is to be expected since Bitcoin did not close above 60k for weeks, there will be safe harbours waiting. Even for short term Bitcoin Cash will be the one that will manage that. The btcbch ratio is at ridiculous rate that will probably not be there again.

Bitcoin Cash actual price for this kind of market we are today, should be around $5,000 on very modest valuation. In fact even $20,000 could be realistic when observing the fundamental indicators for BCH and compared to the rest of the market and the current BTC price.

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Avatar for annayks
Written by   122
6 months ago
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