Thinking About Selling Bitcoin Cash (BCH)? Read This First

The current market performance of Bitcoin Cash (BCH) may have some investors unsure of what next. Some may be contemplating selling their holdings, ready to capitalize on recent gains rather than lose.

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The current market performance of Bitcoin Cash (BCH) may have some investors unsure of what next. Some may be contemplating selling their holdings, ready to capitalize on recent gains rather than lose.

This is especially so with a spate of poor public opinion surrounding the coin; including the Bitcoin.com fiasco and the recent 32MB blocks upgrade.

These factors may legitimize calls from some quarters that selling is better as Bitcoin Cash won’t stop the decline. I believe the opposite is true and that you can’t just dispense with a coin that has all it takes to be a top coin. Here are three reasons why you shouldn’t sell at all costs.

Increased adoption is likely in the future

One of the problems that affect BCH at the moment relates to a lack of use- the volume of transactions taking place on the network has not been able to march the hype.

However, this is likely to change soon, with possible adoption rates increasing use and thus transactions. Increased usability will likely help drive more demand, and with just 21 million coins in circulation, the future prices of the coin will be much higher than they are now.

And this seems to be what the BCH team is driving at with network upgrades. Speaking to a group of enthusiasts at Exeter University, nChain CEO Jimmy Nguyen intimated that everyone at his company will do everything to make Bitcoin Cash (BCH) the crypto of the future. He said:

“Right now people freak out because of the volatility, because the price isn’t really based on anything other than people wanting to get in knowing there are only 21 million coins … not because [they’re] actually using it. So the price right now is just speculative and we’re fighting for the long-term value of it that we think will stabilize the price. At a much higher number”

The market will rally again

Bitcoin Cash is the 4th ranked coin according to market cap. It recently had a decent rally, rising in value to a high of $1838 early May. It’s a reminder that the coin has some resilience which can serve it right in case of a rally.

At the moment, all coins have been going down and the expectation is that a bullish summer will drive prices to new highs. Should Bitcoin (BTC) experience a price surge, other assets would be expected to follow suit.

According to predictions, BCH is projected to grow in value by December 2018. Here is a chart showing expected market cap growth for BCH, BTC, and ETH.

Bitcoin Cash, like most other coins usually follow in the footsteps of BTC. In the aftermath of the current Consensus 2018, analysts predict that Bitcoin will rally. Accordingly, BCH should follow a similar pattern.

According to the aggregated price predictions on finder.com, BCH’s current price at $1,304 will increase by about +31% to reach $1,775 by 1 June 2018.  For the rest of the year, the coin will surge by +174% to rise to $3,700. It means that even if the crypto is struggling at the moment, the future may be bright. The best strategy could be to hodl.

BCH on more exchanges

There’s a very big chance that coins listed on major exchanges get more visibility in the market. Bitcoin Cash is listed on almost all the major cryptocurrency exchanges around the world. This is crucial for the crypto and an investor shouldn’t just sell because the prices are declining. The recent addition of the coin to LBX is bound to increase the coin’s footprint and aid in demand.

Gemini, one of the reclusive sites in the US also indicated that they’d be adding BCH. That now seems to be happening sooner than later. Earlier this week, it was reported that the New York State Department of Financial Services (NYSDFS) had given cryptocurrency exchange Gemini the go-ahead to include Litecoin (LTC), Bitcoin Cash (BCH), and Zcash (ZEC) on its exchange platform.

Current price performance

Bitcoin Cash is still ranked 4th with a market cap of 22 billion. It currently trades at $1286 against the US dollar. It’s up +1% at the time of writing, an increase over the last 24 hours. However, its value is still -20.71% down over the last 7 days. The current decline may carry on for a while, but June/July is expected to bring an upturn. It’s the best time to hold on till the storm passes.

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