Not too late to purchase BCH

A few days back I wrote an article explaining what caused the surge of BCH, I was wondering if it is too late to purchase BCH and I wanted to share some facts about BCH that can aid us to decide if it is good to purchase BCH now or not. For some reason, I'm so bullish on BCH and I think it can have a good time in the coming years. Today someone was asking me to suggest some coins to invest in this year and BCH was also on my list and I personally wanted to invest more too.

I was fortunate to witness both a bear market and a bull market a few times. The price of BCH had been very good and consistent. It was definitely a great opportunity when the price was around 100$ last month. This month it has climbed over 100% and hopefully even more in the near future. A small market correction can happen but otherwise, my gut feeling says that it is going to keep moving forward.

Is it too late?

Many people who have missed the opportunity in the last few weeks might wonder if it is still good to purchase and hold BCH or not. One of the biggest things that we have to be comparing it with is the last all-time high. When compared to that the price of BCH is still very low. It is true that the price was far low last month. But it is still low to make some profit when the market recovers back and when it is peak bull run.

If you look at the above graph, I have filtered it to show the graph for the last year. The price of BCH had been the same for almost 1 year stuck between 100 and 150 dollars. After the current push, the price is almost close to 300 setting up a new base value. If it should keep going further, I think it would hold 300 and keep climbing only from here. That is my assumption as it is very unlikely that the price would drop down again.

Not very long ago but during the 2021 pump, the price of BCH hit 1600$ and it was still considered very low many people wanted to invest even at that price considering the fact that it was not its all-time high. The success and price of a token are determined based on how good the token is and what developments are happening in and around the community. The DApps that we had earlier gave BCH a great push but after the recent exchange listing and the recent Hardfork, the hopes have increased by so much because BCH is going to create new opportunities for DApp developers.

I understand that many people still want to invest in Bitcoin and book a profit during the next bull run. When we look at the price of Bitcoin cash in 2017, the coin reached an all-time high of 4300 dollars. This is what gives us hope that the price would definitely improve in the next bull run and give us new opportunities. Even if we think that the price may not hit a new all-time high value, I'm sure the price would definitely touch 1000$ per coin easily.

If we are still thinking that we are only in the early stage of cryptocurrency adoption and this technology is still pretty new to this world, we can very well say that BCH would pump soon considering the fact that the supply of BCH is also very limited. Doing a historical comparison of the price, we can easily say that BCH is still at a good price to purchase and hold for the long term. Only the long-term crypto people would know the meaning of Hodl but I would cautiously say that DCA is also very important.

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Posted Using LeoFinance Alpha