The Bitcoin Cash price has been on the minds of nearly every player in the cryptocurrency market. As Bitcoin Cash (BCH) attempts to follow its older sibling, Bitcoin (BTC), on a path towards success, many investors are wondering whether this new coin is something real or just puffed-up hype. So what is the true Bitcoin Cash value? In other words, is this steak all sizzle and no substance?
As much as I hate to disappoint all the BCH fanboys out there, I’d say the vast majority of investors are better off staying away from this sryptocurrency, at least for the time being.
To put it bluntly: if someone asked me if they should buy Bitcoin Cash, I would tell them to run—not walk—in the other direction. Why? Because the market right now is simply too volatile.
Bitcoin Cash price over the past week alone has gone from $300.00 to $400.00, back down to $200.00, then up to around $700.00 before falling back to $330.00 or so. Clearly, the BCH value has not been settled. This isn’t a predictable trajectory, nor is it one that can be counted on to even head in a single direction for more than a day.
The BCH price is so wild right now and that’s because no one is viewing it as a buy-and-hold asset at the moment, not to mention that there’s still a tonne of logistical issues still up in the air that could very well affect Bitcoin Cash futures.
For instance, BCH is currently not listed on one of the largest coin exchanges in the world, Coinbase. While the exchange claimed it would allow people to access BCH come 2018, it hasn’t made a decision regarding whether it will allow the new coin to be traded. Coinbase’s reasoning? BCH is too new and unproven to have on its exchange.
That doesn’t mean that Bitcoin Cash futures are all bleak. After all, BTC is notoriously volatile and yet it has now passed the $3,000 threshold and is still climbing.
So if you’re absolutely determined to buy Bitcoin Cash, I believe that waiting for a little bit longer to let the early fervor trading settle before getting involved could be a good idea. Not to mention the possible lawsuits that may arise as owners of BTC who want to access their new BCH coins may levy against Coinbase.
Click here for reuse options!