So, as I started using read.cash a few months ago I didn't hold any BCH on my wallets. To be honest I wasn't pretty informed about it. I did know it was the result of a fork of Bitcoin but that was it. As I started earning a bit from my writings I realized that there is a large community behind BCH and that it has a major benefit that Bitcoin doesn't: small pays and fast transfers with little to no fee.
That alone made me cherish this coin and see the potential it has towards the future. For a long time it stayed under 300Usd and didn't seem it would break that resistance any time soon. But still I aimed to hold it because, I repeat, I see potential for it in the future. I believe it can work as a "bridge" in the crypto adoption as some other coins have sow transfer rates and depending on the network, the gas fees can be a bit expensive. If you think about it, one of the key points that were used in the beginning of the crypto revolution was that through cryptocurrency one could solve or avoid the large fees that banks has over transactions. While there is still an advantage in crypto vs regular bank transactions, it is true that with coins like BCH (or even XRP which I believe will resurge stronger after the victory against the SEC) offers an advantage vs ETH or even BTC.
With the resent pump on BTC and the following on ETH, there is a sense of altseason that seems to be taking its' time to take off. Today BCH hit a new high in a looong time (distant are the days of that initial 4k value from the BTC fork).
Question is: how long would BCH take to hit 600k, or what's more... 1k? I believe that if BTC don't dump in the following weeks, BCH could slowly escalate up to 800Usd where it can stay a little time, perhaps some correction back to 600Usd but my hopes are that by the end of 2021, BCH will easily be around or above 1k.
So... the question I always make myself: take some profit now or keep holding and make my gains thinking on the long term? What do you guys think?
Discloser: I'm no trading-expert nor this post is aimed to be of financial advise. Just an enthusiast trying to learn more about the wonderful cryptoworld.
wow!