Fate of BCH??
Bitcoin cash has now been out for over 24 hours and I'm not sure what to think of it. As of right now it is trading at $408 on Bitfinex and I am actually surprised they added it for trading so quick. I am not an owner of any BTC, I hold ETH and a few others, so I did not get the chance to get any BCH from the fork. I honestly thought we were going to see a total dump of all BCH, but it hasn't happened yet. I say yet because I think people were holding to see the highs it could hit before they wanted to cash out, to maximize profits of course. BCH hit a high of $693 on Bitfinex this morning and quickly fell back down. The buy orders are fairly large compared to the sell orders so I think we may see some stabilization at least for the time being. I think BCH actually might have a fair place in the market. BTC will always be the mother of all cryptos and the gold standard, but BCH can give us an option for quicker transactions. An interesting point is that there will now be 21 million BTC and BCH. Is this another chance for all of us who missed out on BTC or is this just a bump in the road?
Some people are viewing Bitcoin cash as just another altcoin simply b/c they are haters of it. Bcash has store of value built in thanks to the bitcoin name. (Also the perception of it being a bitcoin clone). People forget or don't know that ethereum was actually a fork off of ethereum classic! Bcash may drop a bit but I don't think it will ever go out of the top 10.
I can very much agree here. I think BCH will do well, maybe not be BTC, but will give it a run for its money.
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