Bitcoin Cash | Let’s find out the 7 Reasons to Invest in Bitcoin Cash
1. Market capitalization of Bitcoin Cash is among the top ten
The market capitalization of BCH is about $21.8 billion. A circulating supply of approximately 18.7 million coins is available at the current price of $1,169. The number also represents the number of coins mined on this network. Investing in coins with a high market capitalization is usually a good idea. Multiplying the number of coins in circulation or already mined with the existing price gives you the market capitalization of the coin.
In general, coins with a high market cap are more stable as investments than those with a lower market cap. Additionally, it indicates how quickly you can buy or sell these coins on the crypto market. All coins are volatile, which means that their prices change quickly based on the market condition, so a coin with stability or a high market cap will be less likely to experience such changes. In addition, this value illustrates the growth potential of digital coins.
2. Bitcoin Cash Benefits from Bitcoin’s Popularity
Bitcoin Cash is a hard fork of the Bitcoin network, as noted earlier. Most of the developers who worked on Bitcoin Cash’s network are the same ones who worked on Bitcoin’s, apart from a few who chose to remain with Bitcoin. A significant number of users have been convinced that Bitcoin Cash is a better alternative to Bitcoin. BCH is also regarded as a potential investment option because it is a consequence of the more successful Bitcoin.
The growth potential of ETH has been compared to that of Bitcoin, but with better features. BCH’s value has continued to rise since this association was founded in 2017. It is a worthwhile investment because of the association.
3. Bitcoin Cash is backed by popular cryptocurrency investors
Popular investors back Bitcoin Cash. Until cryptocurrencies went mainstream, few people knew anything about them. There are, however, a few individuals who closely follow the trends in this industry. The direction most popular digital coins will take is influenced by these early users and investors. Roger Ver is one of these long-time investors. Roger Ver is one of the first investors in digital coins, especially Bitcoin. As Bitcoin Christ, he has baptized himself.
Since he zealously promoted and pushed bitcoin to its current level, it would only make sense to follow him if he backed another coin. Since its inception, Roger has supported Bitcoin Cash and has seen it grow to its current value. He continues to invest heavily in BCH because he believes it has a lot of potentials.
4. A greater number of investors have shown interest in Bitcoin Cash.
Many people invest in Bitcoin Cash. Cryptocurrencies can be worth so much today, but lose all their value the next day. In the ideal case, digital coins are only as valuable as their users or supporters determine. Coins that have established roots, however, provide value that lasts a long time. It is one of the coins that has maintained its value and has more and more investors investing in it. Investors fall into various categories.
It is believed by some that BCH will eventually be better than Bitcoin due to its ability to scale up and allow more transactions. Speculators predict the price of BCH will increase. Additionally, there are day traders who bet on price swings and miners who hope to escape the limiting concentration of hash power on the Bitcoin network. Investors play a key role in keeping this coin relevant and thus maintaining its growth curve. It is important to consider this aspect when deciding whether to invest.
5. There are many practical applications of BCH
BCH developers discovered the weaknesses and flaws of the Bitcoin network, and sought to eliminate them while making the BCH network more usable on a daily basis. Bitcoin enthusiasts refused to increase the block size from 1MB to 2MB.
According to them, the size of the network served as a leveling factor for all users regardless of their computers. After the introduction of ASIC mining rigs, this argument is now in question. To improve the functioning of the network, Bitcoin Cash increased the block size from 8MB to 32MB.
The larger blocks have allowed users to transact more and faster. The BCH network can now support more than 25,000 transactions per block, far more than Bitcoin, which supports only 1,000 to 1,500 transactions per block. BCH has more practical uses in processing than most coins, and most importantly, more than Bitcoin, making it a worthwhile coin.
6. Many people consider Bitcoin Cash to be safe
6. Many people consider Bitcoin Cash to be safeBitcoin Cash is considered to be secure. Investors consider Bitcoin Cash to be very safe and therefore a good investment option. Since its creation in 2017, this cryptocurrency has remained stable and secure despite its developers increasing the size of its blocks. Bitcoin Cash has never been hacked and is rarely used for illicit purposes, unlike Bitcoin, which has experienced some hacking incidents and is associated with the dark web.
BCH’s security and transparency allow it to compete closely with Bitcoin in terms of its uses and as an investment option. When the people behind BCH maintain their drive to provide solutions and remain as transparent as possible, it has the potential to succeed just like Bitcoin.
7. Bitcoin Cash Has Shown Stable Growth
Bitcoin Cash has been growing steadily since it was created and has shown a level of stability unheard of with most cryptocurrencies. In its inception, this coin had a value of about $290. As a result of the excitement of having a fork from Bitcoin, which was showing tremendous growth at the time, BCH rose more than triple the following day. This coin has already reached its highest price of $4000 by the end of 2017. Later, it leveled off and has been oscillating around the $1000 mark.
Based on its growth curve, it is safe to say this coin will keep growing, albeit not as fast as Bitcoin, but will reach some very high levels, making it a worthwhile investment. Its stability can be attributed primarily to its wide use and its level-headed team of developers and supporters.
Also, it means you can easily buy and sell this coin, especially if you are a short-term trader. In that case, listings should guide you in selecting the best digital coin to buy, just as popular and valuable stocks are listed on serious stock exchanges.
All this information begs the question, “why should you invest in Bitcoin Cash today?”? The purpose of this article is to provide you with viable reasons for investing in BCH, but your final decision rests with you. Consider all possible reasons, weigh your risk appetite, and then make an informed decision.
