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Rachel Welch

19 October 2022 91 Read Altcoins

Is Bitcoin Cash a Good Investment?

Bitcoin Cash has had its ups and downs, but it had its heyday around the time it was launched. Late 2017 and early 2018 were a boom time for the crypto world, and Bitcoin Cash was a fresh, exciting newcomer. But as with any cryptocurrency, you need to understand the price volatility in order to decide if it is a good investment.

Price volatility

Bitcoin Cash has experienced high volatility since its inception, and investors should be cautious when investing in it. Its price has gone up and down dramatically, rising from $200 to $3000 in a single year. To date, it has a market cap of more than $26 billion, which is not insignificant.

Adoption

Despite the rising interest in Bitcoin cash in Africa, there are several factors that limit its mass adoption. One of the biggest obstacles is lack of awareness. Most Africans do not even understand what Bitcoin cash is and have little knowledge about Crypto currencies and freelancers. Furthermore, because Bitcoin cash is still relatively new, many citizens in Africa are wary of using it.

Price prediction

The price prediction for Bitcoin Cash remains bullish for the long term. Despite the current crypto winter, which has caused significant price decreases in several cryptocurrencies, the crypto industry is still remarkably healthy and many price movements will resume their upward trajectory by the end of this year.

Financial freedom

The concept of financial freedom entails spending less than you make, which enables you to save and invest more to build your wealth. To achieve financial freedom, you must first identify your needs and wants. These are things that you need to purchase and things that you would rather do without.

Technical foundation

Bitcoin Cash has a few differences from its predecessor. For one, it is based on the oldest blockchain technology. This means that its transaction processing times are slower and its fees are higher. Furthermore, it has experienced several hard forks. These hard forks caused Bitcoin Cash to diverge from the original bitcoin project. In order to be able to compete with other currencies, Bitcoin Cash will need to constantly improve its technical foundation.

Community backing

Bitcoin Cash fulfills the original promise of Bitcoin as a peer-to-peer electronic cash system. With low fees and reliable confirmations, it empowers merchants and users to transfer money with ease. It is also decentralized and permission-less, allowing for global adoption and unrestricted growth. It allows users to send money to anyone around the world, without having to wait for approval from the recipient.

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