Bitcoin Cash WOW, $1700. But still poop...

in bitcoin •  last year

Who would have thought Bitcoin Cash would be $1700 USD and the third largest Cryptocurrency by marketcap?! Instead of talking about what Bitcoin Cash is, because I think nobody really knows yet, let's take a look at whether or not it has been a good HODL.

On August 2nd, the day after the hard fork, some exchanges were trading Bitcoin Cash for $1000. Bitcoins held on Bittrex were available in the wallet on August 2nd, and could be sold back into Bitcoin itself. So far Bitcoin Cash hasn't been a good hold compared to Bitcoin, not even close, here are the numbers...

August 2nd, 2017 - Bitcoin $2700 | Bitcoin Cash $920 (34% Bitcoin Value)
November 26th, 2017 - Bitcoin $9700 | Bitcoin Cash $1700 (17% Bitcoin Value)

On August 2nd, 2017, 1 Bitcoin Cash sold for .34 Bitcoin. That .34 Bitcoin today is worth $3,300 USD (BTC $9700 * .34). Meanwhile, 1 Bitcoin Cash is only worth $1,700 today. Thus every 1 Bitcoin Cash held today since the August 1st inception missed out on a $1,600 gain had it been converted back into Bitcoin.

Were you holding any Bitcoin on the hard fork August 1st, 2017? Did you sell your Bitcoin Cash or are you still waiting for Coinbase or some other exchange to give you access to it?

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