Is Bitcoin Cash a Good Investment?
Yes, Bitcoin Cash can be a good investment and a great way to diversify your portfolio when done right.
The truth is that Bitcoin Cash has a market cap of $4,814,767,530 and a 24-hour trading volume of $1,666,584,587, at the time of writing, which makes Bitcoin Cash one of the top 10 traded cryptocurrencies out there.
But what does that mean to investors? We are often bombarded with numbers we hardly understand, so let’s put numbers in perspective. A high trading volume means high liquidity, or how easily an asset can be bought and sold. Market cap, on the other hand, refers to the value of an asset on the market.
While many factors can affect the success rates of cryptocurrency investment, including demand and supply, market sentiment, crypto news, and tech innovations, the truth is that many big Bitcoin investors believe that Bitcoin Cash is a good investment.
Interestingly, one of the main supporters of Bitcoin Cash is charming Roger Ver, known as the Bitcoin Jesus, who tweeted just a few days ago (November 13th): “BCH works as cash. BTC no longer does. That’s why Bitcoin Cash is for everybody.”
Should I Invest in Bitcoin Cash?
Why Should I consider investing in Bitcoin Cash? It’s not only big investors that are interested in Bitcoin Cash investing, though. You can also invest in Bitcoin Cash!
But is accessibility enough for you to invest in Bitcoin Cash? Just because you can invest in Bitcoin Cash, that doesn’t mean you should.
And here, dear crypto investor, we can’t give you a precise answer. Simple because there’s no one-size-fits-all approach to crypto investing and it’s all up to you and your financial goals!
All we can do is help you make an informed decision. And the truth is that Bitcoin Cash provides fast transaction times, low fees, and better scalability than Bitcoin.
Thus, if you believe that Bitcoin is not the only coin worth watching and if you think that larger blocks can improve scalability, then investing in Bitcoin Cash might be the right option for you.
Oh, and though we can’t promise that you’ll make money with cryptocurrency, don’t be surprised that the number of investors who want to have Bitcoin Cash in their portfolios is increasing, including:
- Crypto enthusiasts who believe that Bitcoin Cash is better and more scalable than Bitcoin
- Investors who are willing to take a risk and invest in Bitcoin Cash and its adoption in the long-term
- Day traders who are betting on possible price swings and crypto interest in Bitcoin Cash
- Miners who want to escape from Bitcoin and its concentration of hashpower
Would you consider investing in Bitcoin Cash BCH?
Should I Invest in Bitcoin or Bitcoin Cash?
So are you interested in investing in Bitcoin Cash or do you prefer Bitcoin BTC, the first and most popular crypto asset?
If you are still not sure, let’s list the advantages of Bitcoin Cash investing to help you make an informed decision.
Though Bitcoin Cash is very similar to Bitcoin, with different pros and cons and a limited supply of 21 million coins, Bitcoin Cash is different and may help resolve Bitcoin’s scalability issue.
Bitcoin Cash can handle more transactions per second and has lower fees (around $0.20) compared to Bitcoin.
In fact, Bitcoin Cash can handle around 25,000 transactions per block; in comparison, Bitcoin processes 1,000–1,500 transactions per block.
Bitcoin Cash is also considered a safe investment that — despite its bigger blocks — hasn’t been hacked since it was launched. In contrast, Bitcoin is still somehow associated with illicit activities and the Silk Road.
In the end, however, it’s up to you and your beliefs; only you can decide if Bitcoin Cash is a better investment than Bitcoin.
Let’s not forget that what works for some investors might be a terrible financial choice for you, so the final decision — whether to invest in Bitcoin Cash or not — is yours!
How Much Could Bitcoin Cash Be Worth?
You may want to know how much Bitcoin Cash could be worth in the years to come, before you decide to invest in BCH.
The truth is that nobody knows! The cryptocurrency market is highly volatile and dependent on demand and supply, so it’s hard to give accurate price predictions.
On top of that, the ongoing pandemic and the bearish market it triggered in March 2020 showed the whole world that there’s nothing certain in the financial world.
That said, past performance and data analysis can help investors and traders to make forecast predictions.
So let’s start with Bitcoin Cash and its performance in the past. When it was launched, Bitcoin Cash had an opening value of around $290, which reached almost $700 the next day. At the end of 2017, on the other hand, Bitcoin Cash jumped to over $4,000.
Bitcoin Cash Performance (Source: Capital; Retrieved from https://cryptoshrink.io/GSDpNJnP)
Since then, Bitcoin Cash has been a more stable investment, with one BCH trading at $259.27 at the time of writing. According to some positive predictions, the value of Bitcoin Cash may double in 2021.
To give an example, according to Digital Coin Price, Bitcoin Cash might range between $500 (max) and $60 (min), and may even reach almost $700 by the end of 2021.
We can only wait and see what 2021 holds for Bitcoin Cash investing!