Is Bitcoin Cash the most undervalued cryptocurrency?
The market resumed the uptrend of a couple of weeks ago and investors' eyes are all on Bitcoin, but what my eyes are looking at is the uptrend in Bitcoin Cash, which is currently terribly undervalued by the market. I think the euphoria for Bitcoin is personally overestimated especially by small investors who are probably betting on Bitcoin to make some profits.
I have known BCH for the past few months and have been impressed by its power. It is truly a turbo in transactions, especially those of small quantities, and with ridiculous fees of $ 0.001. The site https://bitcoinfees.cash/ offers an updated trend on the fees of the blockchain between Bitcoin and Bitcoin Cash and the graph offers many food for thought
Currently, an average commission on the Bitcoin blockchain costs around $ 8 and the price will tend to increase significantly. At the time of writing, the fees for the next block will be much higher, equal to $ 12.68 while those of Bitcoin Cash just over $ 0.002.
Thinking that Bitcoin is a Peer-To-Peer Electronic Cash System at present is a heresy. No ordinary person would make micropayments with these fees: paying for a coffee would be a loss of capital. Who would be stupid enough to use it on a daily basis? My wallet would only expire for fees in a few days. Bitcoin will also be digital gold but I don't pay for a coffee with gold. I need fast and cheap transactions otherwise the system is useless, better use a bank credit card!
I look at CoinMarketCap and BCH is currently in position number 9, its average price is around $ 460 at the moment. BUT is this really its real value? There is an interesting site https://www.coinfairvalue.com/ which expresses the value of cryptocurrencies based on their token utility, i.e. actually their intrinsic and non-speculative value. I invite you to read the applied methodology and you will understand how current prices are subject to speculation by big investors and not all that glitters is gold.
From this image you can see how the Marketcap would really be if the CoinFairValue methodology were applied. Excluding USD and EUR, at the moment Bitcoin and Ethereum would always keep the first two positions but the value would be much more contained. The third place is occupied by XRP, remember that the site does not take into account the legal issues with the SEC but analyzes the validity of the project itself. In fourth place is Bitcoin Cash and its value, unlike the first 3, is much higher.
The current market price is around $ 460-470 but its real value would be almost $ 1800 and this is an indicator that BCH is undervalued at the moment and has a really huge growth potential and the trend is constantly increasing. . There are many good reasons to invest in BCH versus BTC right now. The chance that investing in BCH will increase 100% or 200% by the end of the year is much higher than with Bitcoin. Buying 1 Bitcoin currently costs 40k $, 1 BCH 460 $.
Bitcoin, born as a decentralized tool, is becoming more and more centralized and day after day the strong hands are buying more and more coins, stealing them from the common people. Think about it!
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