Bitcoin was probably the runaway story for many people in 2017. It looks like Bitcoin Cash could be the one stealing the spotlight in 2018. When you have people like Roger Ver, Calvin Ayre and Emil Oldenburg announcing that not only do they think Bitcoin Cash is better than Bitcoin but have claimed that have sold all their Bitcoin, it shows they are all-in on BCH.
What are predictions for Bitcoin Cash looking like for 2018?
- Longforecast.com says end of 2018 will close at $5822 USD
- Walletinvestor.com says 1 year will be $8909 USD
- Wallet21.com we predict growth from 4x to 10x of the value at start of the year
One of the co-founders of Bitcoin.com, Emil Oldenburg, had this to say about Bitcoin itself:
I have in fact sold all my bitcoins recently and switched to bitcoin cash
Why do we think Bitcoin Cash is going to be the top story in 2018?
Bitcoin Cash simply operates similar to how the original Bitcoin should work and the ways in which transactions speeds and costs were handled, they just did it right.
In December 2017, Bitcoin transaction fees hit all time records surpassing $50! Meanwhile Bitcoin Cash fees are hovering around the $0.30 levels while the high levels hit $0.90 but quickly went back down.
What is the problem with Bitcoin?
Bitcoin seems to have a lot of groups wanting to control how things are done and it’s hard to imagine much getting done on important changes when not everyone is on the same page. The Bitcoin fork on August 1st, 2017 at least addressed some of these issues in that those that liked the direction Bitcoin was approaching, they could have it their way where Bitcoin was like digital gold while the other group wanting Bitcoin to be faster with low fees and a practical means of payment, got their way with Bitcoin Cash.
Bitcoin vs Bitcoin Cash
At the moment, Bitcoin is of course the top valued coin on the market worth over $15k today. Bitcoin has high transaction fees and they take some time to process so this makes Bitcoin a decent means of storing value but it falls short when it comes to using it for any type of financial transactions or payments. Bitcoin Cash has both low transaction fees and they are processed quickly. So you can treat Bitcoin like a bank wire where it never arrives instantly but you would use it to send a lot of money and Bitcoin Cash as being nearly instant. Except that Bitcoin Cash can also be used like the bank wire to quickly transfer money as small or as large as you want. So if this is how Bitcoin stacks up against Bitcoin Cash, why would people want to keep using Bitcoin? Right now the answer is Bitcoin is worth the most and it has nearly the whole spotlight to itself. Most investors looking into the world of cryptocurrencies are usually heading into it based on Bitcoin. There are others that are hopping on the alt coin train with ICOs but not all of those will survive.
Current prices of the big 3 coins
Click here to see the latest prices of the top cryptocurrencies. As of January 4th, 2017 they were:
Bitcoin was close to hitting the $20k in December while Bitcoin Cash surpassed $2000 and Ethereum has been growing of late and looks like it could be due for the $1000 benchmark. Like Bitcoin, Ethereum is having issues with transaction times and the fees have been on the rise.
Bitcoin's losses will help Bitcoin Cash
For every company that ceases to do payments in Bitcoin because of the slow speeds and high fees, this is an opportunity for Bitcoin Cash to take over and pick up on missed opportunities. Also as more people start to invest in Bitcoin, they'll start to learn more about BCH and see the growth it has made in a shorter period of time. Also when Bitcoin does get to higher values, it will certainly scare off more people from buying in which applies to individuals as well as companies. When it comes to fixing the current problems of Bitcoin, the current set of developers and miners can't seem to fix problems fast enough nor can they agree on what they should do.
Cryptocurrency Portfolio Wishlist
For those that are new and wondering what coins they should pick up here is our portfolio picks for 2018. Just keep in mind that we don't advise people on any investment strategy and these are simply our picks of what cryptocurrencies we think will grow in 2018. We do think there is a possibility of some crashes and cryptocurrencies are very volatile.
Be sure you have read our disclaimer too.
- Under $10,000: Stick with Bitcoin Cash, Ethereum and maybe spend a little on low priced alt coins like Ripple (XRP) and Cardano (ADA)
- $10k+: consider adding in a mix of Bitcoin so around 1/3 of Bitcoin, Bitcoin Cash and Ethereum and throw in some cheaper alt coins for fun like Ripple and Cardano, maybe even IOTA.
Our 2018 analysis of each coin
- Bitcoin - We think Bitcoin is going to continue to grow despite problems in slow transaction speeds and high fees. Think of it like the expensive club that has a lineup, people still will pay and wait to get in. Bitcoin has more room to grow and this is still the gateway coin for everyone that hasn't bought any cryptocurrencies
- Bitcoin Cash - We think BCH has the most potential to grow for 2018.
- Ethereum - We think ETH has similar potential to Bitcoin Cash to grow.
- Ripple - Ripple is one of the top cryptocoins by market capitalization.
- IOTA - IOTA is growing and it doesn't use Blockchain at all