Bitcoin Cash—Bad Value? News and Warnings!

By | Jan 1, 2018
Many cryptocurrencies. Can you find Bitcoin Cash?
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Bitcoin Cash Doing the Long Jump.

If Bitcoin Cash were an athlete, it has just done the long jump rather well. Bitcoin Cash (BCH) has jumped in value after the ‘probably’ failed SEGwit2 fork. But bear in mind, not everyone agrees about the ‘failure’, and developers who have put thousand of hours into this are determined that the fork will still go ahead,.

However, it looks as if BCH has legs, which it didn’t seem to have before, because after the sudden massive drop in value of Bitcoin following news of the (probably) failed SEGwit2 hard fork, BCH has more or less stabilised at around $1300 (USD), at least temporarily, which is good news for those who have been holding hold BCH since that particular fork.

Bitcoin May get Knocked Down, but it never gets KO’d.

Bitcoin recovers from every punch! Will Bitcoin Csh do the same?

Bitcoin recovers from every punch!

In boxing analogy, you’d think Bitcoin would be punch-drunk by now, but, Bitcoin has recovered perfectly from its last punch, heading back towards $7000, again proving Bitcoin’s resilience as a store of value. As expected, this gives Bitcoin investors, if they didn’t already have it, added confidence to buy more Bitcoin before they have to pay $7500 or $8000 per coin.

The corporate investors will now be jumping back in. Any individual ‘whales’ who took profit, will have currently made between $150 and $250 per coin if they get back in now, so I can’t see the value of Bitcoin dipping massively again in the near future.

I think the next surge in value could take it to $8300 or more before it either stabilises or drops back to the mid $7000s before surging upwards again.

I have to admit though, that there’s no real way of predicting what’s going to happen. Personally I’m excited by all this speculation and news that Bitcoin is getting, as I watch my individual stakes getting closer to allowing me to obtain something that I’ve been aiming towards for the past two and a half years. After all, any news is good news for Bitcoin, as more and more investors get into cryptocurrency and the total crypto Market Cap rises.

Fake Exchanges.

So many Choices, but is Bitcoin Cash the right one?

so-many-choices

So to summarise, keep your eye on the markets, make your decisions carefully, but don’t wait too long, or you will lose out in profits. And be careful about where you buy Bitcoin Cash, if you don’t currently have any and you intend on going there. The market today is full of fake exchanges built by con-men and people who want to take your money or crypto and run. 

That fact shouldn’t put you off though. You just have to do due diligence.

Prove Who You Are!

Any reliable exchange will insist on your proper identification. You’ll have to upload a photo of your passport or other ID, and a photo of you holding it. Plus possibly another photo of something that proves where you live and a photo of you holding that item. And there are other security measures that you’ll have to pass. For example, they’ll almost certainly look at your IP address and ensure it is connected with you. You’ll have to use a real email, or you won’t be able to confirm your account. And any good exchange will have Google 2FA enabled, to allow you that extra layer of security.

And stick to reliable places to buy your Bitcoin, like Luno, LocalBitcoins, or Coinbase

Beware, Beware…

As for reliable places to purchase Bitcoin Cash with a Bank transfer or bank card, please let me know in the comments section below if you find one. Personally, I’ve not found one yet that I trust.

Also, beware of fake or unreliable wallets. Unready wallets can let you sell Bitcoin for a paltry sum, when you think you are selling Bitcoin cash. They need to be able to generate distinctly separate codes for the two cryptocurrencies. No confusion involved! You should be able to generate a Bitcoin Cash account and use the codes from there. But FFS! DON’T get mixed up about your send and receive codes. Make your send codes public and your wallet will be empty in minutes.

Will Bitcoin Cash crash?

plane-crash

You may or may not realise that what causes most aircraft crashes happen when the pilot continues onwards despite some uncertainties. Just don’t do it, if you at all uncertain about a transaction. Because where you land matters a lot!

I currently only recommend two wallets, the Trezor, and The Ledger Nano S.

 

 

 

 

 

Disclaimer: Yes, I’d like everyone to get wealthy, if they are not already so, by picking up some tips from my blog. However, if I could predict the future, I’d be keeping that information to myself. What I can do is point people in a direction where they can make their own predictions. People are still very likely to  do really stupid things at exactly the wrong time. Most people will agree that’s not a beneficial course of action, but I can’t help if people do that! If you think this about me: that I’m a financial advisor, you are wrong, and sometimes, like everyone, I’ve made bad decisions. Sometimes really bad ones. Sometimes I’ve made great decisions. Mostly, I’ve been lucky. Sometimes very lucky. But like someone said, luck is what happens when preparation meets opportunity, so if I recommend anything, it is to prepare for when your obsessive preparation meets great opportunity. Get lucky!

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