BCH

Discussion in 'Bitcoin Cash (BCH)' started by Bitcrypto, May 27, 2018.

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  1. Bitcrypto

    Bitcrypto Contributor

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    Bitcoin Cash is about 43% down from its May 5 local peak, and a far cry from its December heights of roughly $3,650.

    The much-hyped May 15 fork didn't really create much of a rally. While Bitcoin Cash is focused on becoming an everyday payments network (that Bitcoin is not well-suited for), investors are reacting to this lofty mission with much skepticism.

    Bitcoin Cash (BCH.X): price forecast

    How do you think about the future of BCH?
     
  2. The CC Forums

    Staff Member

    I hold BCH from last year’s fork, but I never bought any more. In fact, I sold about half my holding last month in the $1800 range.

    When it dropped below $1k this week, I seriously thought about buying back but held off. It may replace litecoin’s future by becoming useful as a payment system, or it could be always seen as a step child of bitcoin and ignored.

    Of course the whole market is suffering right now, so good coins are getting punished as much as useless ones. The next rally will help decide what gets adoption.
     
    Bitcrypto likes this.
  3. Bitcrypto

    Bitcrypto Contributor

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    You are smart, Could you share your experience more?
     
  4. The CC Forums

    Staff Member

    Thanks but I try to avoid giving specific advice or appearing to promote specific currencies. My goal is to avoid the shilling found on other crypto sites.

    My gut tells me that the most popularly traded cryptos have another run coming. But many of the smaller coins and tokens may be left behind. If we knew which ones as when, we’d all be filthy rich.

    It seems money is building on the sidelines with each new story about opening up bitcoin to new investors. With crypto indexes, Coinbase growth, institutional custody options, and traditional exchanges announcing plans to offer trading, upward pressure should eventually come.

    But it might only be for the most common names like bitcoin cash, bitcoin, Ethereum, XRP and a handful of others. Convincing Wall Street to buy Cardano (for a popular example) or most coins from 25-1400 in market cap rankings seems like an uphill battle.

    What’s the value proposition? Where does the revenue and profit come from with Sia Coin, Gnosis, Golem or any other of the 1400 projects out there? Who will adopt decentralized cloud storage solutions from small vendors instead of going with traditional vendors Amazon, Google and so on? Especially if they develop a blockchain solution and create hybrid decentralization. Who will pay for “prediction markets” and how does that translate into increased price for Gnosis?

    The next phase of crypto will see the best rise from the pile and some new projects with better focus and attractive commercial products. That’s where investor focus should be.
     
    Bitcrypto likes this.
  5. CryptoTC

    CryptoTC Crypto Fat Cat
    Staff Member

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    $750 anyone?

    Although it isn’t off its ATH as much as some of the other coins, $750 seems like a buying opportunity to me. But I don’t have great confidence in that claim. Anyone with longer trading experience willing to support or dispute $750 as a decent buy?
     
  6. BitFit

    BitFit Contributor

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    I’ll admit it, I bought some BCH for the first time last week. I think it has potential to become a payment currency. More than bitcoin or litecoin.
     
  7. The CC Forums

    Staff Member

    Glad to see you’re hanging in there. You’ve mentioned the markets are shaking you up a little. Keep in mind crypto should only be a small % of your investments to keep from taking on too much risk. Diversify into other classes. Age guides how much to put and where to put it. Give crypto some time to sort out the real values from the worthless hype.
     
  8. BitFit

    BitFit Contributor

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    Thanks. Looks like prices haven’t changed much since my last visit. I’m finding my interest level decreasing. Maybe that’s good since I can just hodl and not panic with each bit of news.
     
  9. CryptoTC

    CryptoTC Crypto Fat Cat
    Staff Member

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    Grooming myself between naps
    Sleeping on a couch, chair, bed, or under a table
    At or near the recent bottom then. Nicely done. Expect it to be bumpy for a while longer though.
     

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