Please, Trash Bitcoin Cash!

The UAHF came and went. Just like the dust storms of the '20s bringing FUD to some and riches to others. The Bitcoin community had never seen such a radical change to the system core as experienced with this User Activated Hard Fork. The fork backed up by practically half of the blockchain community resulted, as many know, in the creation of a separate blockchain called Bitcoin Cash (among other names). The blockchain separated exactly on August 1st, 2017 with the first Bitcoin Cash block ever mined.

The fear of a Bitcoin split send shockwaves throughout the cryptocurrencies sending all (or most) alt coins to the ¹ground weeks before the actual event. The entire cryptocurrency value saw an incredible drop from a $109B market capital to $61B, an outstanding 46% move down. There is a saying in the financial and trading world that refers to "Blood on the Streets" when the markets or an individual stock price seems to have fallen to levels unimaginable. On July 16th, there was blood on the streets of 478558 Crypto Drive. This proved to be an opportunity that many of us took advantage².

The reality is that, as of now, there had been hardly any impact to Bitcoin or any of the top 10 alt coins. Bitcoin has recently reached an all time high, Ethereum is still positioned as the second most important coin, Ripple although far from its 50 cent high is still the third largest by market capital and Litecoin merely a few dollars away from its highest price reached. The entire crypto currency market capital now at $122B.

Enters Bitcoin Cash 🎉

Bitcoin Cash has been demonized by many, ridiculed by most and used and sold with as much gratitude as the $20 bill found in a dirty pair of jeans in the laundry basket. After all, anyone with any amount of Bitcoin pre-fork is now entitled to the same amount of tokens in Bitcoin Cash³. Who wouldn't want to splurge free coins.

Depending on which exchange or news outlet you follow, the price of BCC has seen a low of $98 and a high of $1400, currently trading at $370 as an average. The truth is that most of us did not have access to trading at these prices but based on volume at these levels lots of others were this lucky (or unlucky).

Bitcoin Cash is a necessity just like a paper bank note became a necessity as means of trading when precious metals became too expensive or too risky to handle. The same is true for Bitcoin.

With Bitcoin Cash, we hit the blockchain jackpot. The beauty of the blockchain is that it can in fact mutate. The Hard Fork created a new coin with its own advantages and disadvantages while keeping the original Bitcoin untouched in a seamless split. We are witnessing the birth of a crypto note, just like the Chinese did in 118 BC, an outstanding event that came and went, almost uneventful but hated and demonized by many.

There is no telling which way Bitcoin Cash will go in the near future, price wise. Nevertheless, the price action in the recent days after the fork shows the classic trend of an oversold, underpriced trade. This providing an incredible opportunity for all of us in crypto currencies to invest in this new path while remaining truthful to the Bitcoin enterprise .

As I have always said, the perfect time for buying in Bitcoin and Crypto is Yesterday. The same applies to Bitcoin cash and the $200 price seen as a minuscule road sign in the rear view mirror. If we could only make a U-turn and revisit that sign.

So please, make some of us happy, Trash Bitcoin Cash.

🚀

¹ Referring to the prices of Bitcoin an alt coins when compared to recent previous, the YTD gains on most crypto coins were still in the multiples when compared to previous years.
² During this time, the author purchased Litecoin, Ethereum, Bitcoin in order of total investment.
³ For Coinbase, GDAX and like-exchanges, please review their step by step guide on accessing your BCC. Some won't make it available to you until the coin is introduced on their platforms.

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