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Is it Too Late to Buy Bitcoin Cash ?

The potential for future growth in Bitcoin Cash, a cryptocurrency that emerged as a result of a hard fork from the original Bitcoin, has shown significant growth since its inception.

Its market capitalization has steadily increased, making it one of the top cryptocurrencies in terms of value.

This growth can be attributed to several factors.

As the value of Bitcoin Cash continues to rise, many investors are left wondering if it is too late to buy into this digital currency.

In this essay, we will explore the potential for future growth in Bitcoin Cash, the risks and challenges of investing in it..

Bitcoin Cash (BCH) is holding close to the $300 level after an intense melt-up in the last few weeks

BCH/USD was last changing hands around $291, down a little on the day amid a subdued tone to broader cryptocurrency market trade.

Despite now trading around 10% lower versus last Friday’s more than one-year peaks around $330, BCH is still up more than 200% versus earlier monthly lows around $90.

News that BCH will be one of the few cryptocurrencies listed on by crypto exchange EDX Markets was attributed as the catalyst for June’s big price spike.

what is the current price of Bitcoin Cash ?

As of July 3, 2023, the current price of Bitcoin Cash (BCH) varies slightly depending on the source :

  • According to CoinMarketCap, the live price of BCH is $291.67 USD with a 24-hour trading volume of $793,661,457 USD.
  • On the other hand, CoinDesk reports that the price of BCH is $292.86, a change of 0.51% over the past 24 hours as of 5:00 p.m. on June 19, 2023.
  • Meanwhile, according to Coinbase, the current price of Bitcoin Cash is $295.83 per BCH/USD, with a 24-hour price decline of 4.66% .
  • CoinStats reports that the current price of BCH is $298.69, up 5.54% in the last 24 hours, and the live market cap is $6B.

Is it Too Late to Buy Bitcoin Cash (BCH)?

Bitcoin Cash’s strong recent performance means that it is the third best-performing cryptocurrency in the top 100 by market capitalization over the past seven days, as per CoinGecko.

The strong rally over the past week and a half has some crypto investors concerned that they might have missed their chance to buy BCH on the cheap.

Is it too late to buy Bitcoin Cash, they might now be asking.

Well, while the cryptocurrency’s strong breakout from the $90-$160ish range it was stuck within for around one year certainly seems to signal a longer-term bullish impulse, BCH is still a long way down from previous all-time highs.

Back in May 2021, Bitcoin Cash rose as high as the $1,600s, more than 6x up versus current levels.

Meanwhile, back in 2017, BCH at one point went as high as $4,300.

The cryptocurrency’s struggles to keep pace with Bitcoin’s adoption rate means that a return to these 2017 highs may never happen.

But if we are in the early stages of a new crypto bull market, BCH could still do very well.

With the cryptocurrency still looking cheap by historical comparison, it certainly isn’t too late to buy BCH.

what are the advantages of investing in Bitcoin Cash

Investing in Bitcoin Cash (BCH) has several advantages, including:

  • Low transaction fees: BCH has lower transaction fees compared to Bitcoin, making it more affordable for small transactions.
  • Faster transaction times: BCH has a larger block size limit, allowing it to process more on-chain transactions per second, making it faster than Bitcoin.
  • High scalability levels: BCH has excess block space available, which means users pay lower fees.
  • Accessibility: BCH is one of the more popular cryptocurrencies and can be purchased through most major exchanges, unlike lesser-known competitors.
  • Affordability: BCH is more affordable than Bitcoin, making it easier to invest in.

However, there are also some disadvantages to investing in BCH, including:

  • Fewer users: With fewer people using BCH than Bitcoin, it may struggle to grow as an accepted investment or medium.
  • Volatility: Like all cryptocurrencies, BCH is highly volatile and can experience significant price fluctuations.
  • Limited acceptance: BCH is not as widely accepted by the general public as Bitcoin.

Ultimately, whether investing in BCH is advantageous depends on an individual’s investment goals and risk tolerance.

It is important to do thorough research and consider all factors before making any investment decisions.

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