Not less than a week ago the price of BCH was close to 100$ per coin but today the price has hit over 300$ per coin which is a huge surge. I was checking my portfolio and discovered that the BCH holdings increased by 3 times already. I always wanted to hold close to 5 BCH. Initially, my goal was to hold 1 full BCH but then it increased from 1 to 5 now. I guess having 5 BCH is a pretty decent one.
When Noise Cash and Read Cash were at its peak, I was able to earn some BCH through that. I earned around 5 BCH but I did spend some of my BCH on a few things. Today I hold close to 4 BCH which I think is pretty decent. I was wondering if I should be making use of this surge and book my profits and wait for it to go down again and purchase it back. It is a good strategy but it is also a risk. The reason is that I have seen the price of BCH at 1000$ per coin during the bull run. The current price is nowhere close to that and that's what makes me feel that I should be holding it tight till the bull run.
I read a few articles online where some people expressed their opinion on booking profits already. Some people booked their profits already when the price was close to 2X. But now the price has gone up by 3X. Something still makes me feel I should sell half of it and purchase it back when the price goes down again. But there is also a thought that what if the price goes up from now on and never goes back to 100$ again similar to what happened with Bitcoin? So my instincts say that I should wait till the actual bull run and watch this value go up further.
Factors contributing to the surge
As we all know BCH was born out of BTC in 2017 trying to provide more advantages to the users than what BTC was offering. Some of the primary benefits include faster transactions and bigger block sizes. They wanted to make BCH easily accessible for people and with very low fees.
It is very nice to look at the surge and it is also tempting to be a part of the surge knowing that it would pump further. Many people want to know why this surge is happening and I was also curious. After a few readings, I found out that EDX Market listing is one of the primary reasons for the surge. It is more like a new exchange listing for BCH that has created more opportunities for BCH. This exchange listing is very important because it has more connections with many popular financial institutions.
In addition to the exchange listing, people believe that the new Hardfork that happened in the month of May should have been the primary reason for the surge. They have introduced a feature for CashTokens in BCH as part of the Hard Fork that would pave the way for creating DApps on BCH. They have also enhanced the privacy and security as part of this release and that is also one major thing in this Hard Fork. People believe that this could have been the primary reason but I still have not explored what opportunities the CashTokens would bring and how we can create DApps on top of BCH. With the low transaction fees that BCH has, it can be a great thing to build DApps on BCH if it is comfortable.
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