Wow, just wow. Yesterday the price of Bitcoin Cash after the s2x event occured skyrocketed. Like 50% skyrocketed. There were many happy cries, which are now turning out to be sad, sad shorts.
Can you blame us though? A 50% increase in just a day has to end somewhere right!? Apparently not. To a lot of investors, myself included, it was predicted that the price would stabilize around $1,000 and correct itself to 950/900. Now we wake up and Bitcoin Cash is back to the f*cking rollercoaster.
Does this mean it's a good time to invest?
To be honest at this point I have no clue. Yesterday morning my gut told me that Bitcoin Cash was going to have some drastic change and should be invested in, and I'm cringing extremely hard at myself for not doing so. If that counts as any kind of qualification, my gut says that this cannot last.
To me this all seems artificial. Call me oldschool but Bitcoin still has my heart, and a lot of the people's trust. Not to mention it's just about the only cryptocurrency known by the average person. For this reason I think Bitcoin will slowly come back after dropping to maybe 6,000 and stabilizing for a while.
It's not that I don't believe in Bitcoin Cash, because I do. It was created to be Bitcoin 2.0, faster and easier than Bitcoin. The one that we will all use to purchase everyday items in the future, so they say. I think it may very well become that, but not so fast. I predict a hard crash from Bitcoin Cash within the next week or month. I would be very careful if you have your money in there right now.
What do you think about this? Feel free to let me know below.