Bitcoin cash dropped 30% today after going up way too quick! At its height, it was trading at close to 800$. At the time of publishing BitcoinCash is trading at 397$
This recent drop has made traders question the value of BTH as it is still in its third day of existence and no one knows if it has any real value.
My personal take on the subjet!!!!
I would not be suprised to see a huge pullback on the current price for various reasons.
First, Does it solve any purpose? Does it have any special technology behind it? Why invest in Bitcoin Cash instead of any other altcoins? Other than it's association with Bitcoin, BCC has no real competing advantage and frankly I don't see why Bitcoin Cash would be a good long term investment especially when it's competing with dozens of promising altcoins which are way cheaper and less volatile than BCC!
I also think that the fact that a lot of big exchanges do not support the new coin can affect its long run! It definetly keeps it away from the average trader that do not want to sign in into more than one exchange.
For anyone looking to invest in the coin, I would advice to only put in what you can lose and be mentally prepared for a big loss! No one can predict the future and tell for sure if the coin will survive long term and have any value. This fact alone should make you act with precaution!!
Let me know you guys' predictions!!!
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