What are the Experts Says About Bitcoin Cash?
Whether or not to invest in Bitcoin Cash comes down to whether you believe people will accept BCH as a payment method. Who you ask determines how likely this is, but Bitcoin Cash has its fair share of supporters.
Roger Ver, a long-time BCH supporter, has already been mentioned. He is quick to point out that Bitcoin Cash is already a major contender as the world gradually transitions to digital payments. It is interesting to note that a majority of people do not know that the coin already has more transactions than the Bitcoin network at the moment,” he told Forcast.
It is peer-to-peer electronic cash for everyone, and it can increase economic freedom for everyone on the planet, says Ver.
Of course, Roger Ver is a well-known BCH supporter, but he is not alone in his optimism. Crypto expert and Digibyte Foundation advisor Sydney Ifergan believe Bitcoin Cash is more suited to handling a growing user base than other digital payment options.
He has also stated that “Bitcoin Cash also shows a brighter future with its stronger emphasis on far improved scalability and low transaction fees.” While Bitcoin will continue to be the most popular cryptocurrency, he believes that “Bitcoin Cash will clearly play a strong role by its improvement and continuous adoption.”
Is Tesla About to Board the Bitcoin Cash Train?
Prominent crypto investor and MEGA founder Kim Dotcom have recently been bullish on Bitcoin Cash, predicting that it will reach $3,000 by the end of 2021. Even more recently, Dotcom defended BCH as the people’s cryptocurrency, claiming that it’s far greater qualified to “the mass market” than Bitcoin, which he claims is for “the one percent.”
The interesting part is that Kim Dotcom tagged Elon Musk in the post, referring to Tesla’s recent announcement that it now accepts Bitcoin payments. Musk simply replied, “fair point,” but following the post, Tesla updated its small print regarding cryptocurrency payments.
Will Bitcoin Cash supplant Bitcoin?
The crypto world appears to be on pins and needles over which coin will finally dethrone the original Bitcoin. While Bitcoin Cash is still a long way from competing with its predecessor, it is not out of the question that it will one day overtake it as a retail payment option, especially given its superior scalability.
Is it risky to invest in Bitcoin Cash?
Yes, investing in Bitcoin Cash or any other asset (especially cryptocurrency) can be risky.
Simply put, no highly profitable asset is completely safe, and cryptocurrencies are no exception to this rule.
However, some factors have a direct impact on Bitcoin Cash or any cryptocurrency, and as a result, the safety of investing in Bitcoin Cash. A sizable fan base and enthusiast base. A development team is hard at work on the project.
Wide use or adoption, i.e., the ability to use Bitcoin Cash to pay for various payments and the ease with which it can be bought and sold.
All three of the aforementioned Bitcoin Cash indicators are strong. As a result, it is possible to believe that investing in Bitcoin Cash is safer than investing in most other cryptocurrencies, though it is not risk-free! The truth is that Bitcoin Cash has had many ups and downs over the years, but it still has some excellent investment opportunities. As a result, always conduct thorough research before investing in Bitcoin Cash, and never invest more than you can afford to lose. Risk management is essential for setting stop-limit and stop-loss orders and overcoming financial difficulties.
Is Bitcoin Cash a Millionaire-Cashing Investment?
To understand this, we must examine the price of Bitcoin Cash and how it has performed since the beginning of the year. Let’s start with the price in late 2020. Bitcoin Cash began to rise in value around the middle of December. The asset drew a lot of investor attention due to its similarities with Bitcoin, which was fueled by the mad rush to invest in cryptocurrencies. Bitcoin Cash’s price rose from $297.58 on Christmas Day in 2020 to $419.50 by the end of the first week of 2021. By the end of January 2021, the price had fallen to $377.46, then risen again, reaching a high of $724 on February 20th.
Even though the price has since dropped and there is some volatility in Bitcoin Cash, this rally reminded investors of the cryptocurrency’s legendary price rally three years ago, when it rose from $448 at the end of October to a record high of $3785 on December 20th, 2017. BCH hasn’t been able to match those highs since. Nonetheless, investors believe that if Bitcoin Cash can stage another rally similar to the one in 2017, it could be a millionaire-making investment.
Add to that the vocal support for Bitcoin Cash from big names like Roger Ver, a tech entrepreneur and investor who believes Bitcoin Cash will be worth 229 times its current price by 2030.
Ver believes that the greater the utility of an asset, the more users and companies will flock to it. He believes that BTC has greater utility than other cryptocurrencies, which could lead to a significant price increase.
Recent events have also reinforced Bitcoin Cash’s bullishness. Kim Dotcom’s support and backing for Bitcoin Cash boosted the cryptocurrency by 22% in 24 hours.
In 5 Simple Steps, Learn How to Invest in Bitcoin Cash
Although we recommend that you read our How to Invest in Bitcoin Cash Guide in its entirety, the steps below explain how to invest in BCH right now.
Step 1: Sign up for a Bitcoin Cash trading account with a regulated, commission-free broker.
Step 2: Make a deposit using a debit/credit card, an e-wallet, or a bank transfer.
Step 3: Determine how much Bitcoin Cash you want to purchase.
Step 4: Verify the investment.
Step 5: Keep your Bitcoin Cash until you’re ready to cash it out.
