The last couple days, I have been wondering if we would get a rally out of Bitcoin Cash being split off from bitcoin. Today, it appears there is a little up-tick based on this event which happens come August 1.
Traders and many of my viewers, you guys are speculating that holding BCash will be a solid way to profit. It could very well be the case.
Anyone holding their private keys to bitcoin come August 1, you will receive extra coins! If those coins can be sold on the market before bitcoin drops in value, people could see real gains. Assuming you are able to sell without any dip in the price of bitcoin, you would realize something like $300 per every bitcoin you own.
There is a BCash futures market on one exchange: https://coinmarketcap.com/currencies/bitcoin-cash/
I thought about doing it myself, but for me, I never held much bitcoin anyway, and I would rather not convert just for this since volatility and fees could eat up any gains I might see.
That said, it is important to explain this event of the upcoming alt BCash.