Cryptocurrencies are often “getting on the radar” when they show incredible performances. For example, 2017 has been a great year for cryptos. At the beginning of 2018, however, the cryptocurrencies market have tended to correct downwards. Despite this trend, some cryptos stand out and allow investors to make more than satisfactory profits. This is the case of Bitcoin Cash (BCH), too, which gained about 133% since April.
In 2017, we saw the Bitcoin (BTC) rising from a value of $950 at the beginning of the year to about $20,000 at the end of the year. Also, Ripple (XRP) registered by the end of 2017 a price of about 350 times higher than that at the beginning of the last year.
Therefore, the massive appreciation of Bitcoin Cash (BCH) shouldn’t surprise us much. However, is the only major cryptocurrency who achieved such gains in 2018, so far.
Bitcoin Cash (BCH) rose by 133% since April but it seems to be a short-term gain
On the BCH chart below, we can see that since the beginning of April 2018, the BCH price has started an impulsive upward movement. While the cryptocurrency was only worth $600 at the beginning of the month, it reached the $1,400 threshold at the end of the month, thus achieving a performance of around 133%.
At the moment I’m writing this article, BCH is trading at about $1,571, registering an approximative 4.13% depreciation in the last 24 hours. Yesterday, the crypto closed at $1,655.
Currently, Bitcoin Cash (BCH) is the 4th asset in the cryptocurrencies market, with a market cap which is getting closer to $27 billion.
By investing $500 in the Bitcoin Cash (BCH) at the beginning of April, you would’ve scored about $665 in profit at the beginning of May, thus, your capital going from $500 to $1,165 (about 2.33 times higher). This should prove, once again, the strength that investments in cryptocurrencies can be huge, as also is the profitability of these assets on the short-term and medium-term. Definitely, BCH is a crypto you should keep an eye on.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.