It only went up because of speculation, Coinbase traded for such a short period of time and then locked up due to possible insider trading. What does that mean? Millions of BCH are still locked up that people can not sell and put on the market squeezing the supply of BCH and creating a false increase we are seeing now.
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Nope, not buying what your selling.
"Millions of BCH are still locked"
When BCH was below $300 and there were only a handful of wallets that could accept them, there may have not been an incentive to "unlock" them. When BCH hit $2K and most wallets will now translate them, the incentive just got a whole lot greater.
First its Coinbase, soon it will be Bitpay, then the floodgates open!!!
Everything in this space is speculation. We're seeing a massive influx of money into a very small market where few of the investments have established any potential to generate any returns for investors (other than pump/dump).
My expectation: Take profits now and expect a crash. Or hold onto what you got, take the hit, and pray you'll be better off by the end of next year, once this new flood of investors dilutes the power of the legacy investors. Such a tiny amount of the world's wealth is invested in cryptos in December 2017, and I expect to see a rise in value of everything in this space over the next year or two as casual investors enter...
I plan to sell the coins that I don't like and hold the ones I do. Thoughts?
True... I could see this being a ploy to pump up bch, but you have to admit, it does have a future or else coinbase never would have listed it.
The future is now.
getting a coin listed at any exchange is just a money thing those days they want from the devs. a shitload of money for the listing and free coins as a gift. Sure the coin price can develop better with listings on bigger exchanges but don not believe there was a huge money flow into coinbase from BCH before they considered accepting it. There are some nice interviews out there from smaller coins which didnt want to pay millions for the listing.
They probably listed it 1. To get people their bch from august that was promised (and people were raging over) 2. Because some very popular people in the space are pushing for it. Bch doesnt serve more purpose than ltc or dash for example. Besides having the name bitcoin in it i dont vet why people like it so much
Sorry but thats BS. 1: "Millions of BCH are looked up" There are max only 12 Million BCH at all in this world, if 4m lost and 16m minted 2. How you want to know they all want to sell? Look at exchanges around the globe and you see EVERYWHERE the opposite 3. If this increase has ANYTHING to do with Coinbase, why is saw this coming many days ago without even thought about coinbase, just pure from logic?
https://steemit.com/bitcoin/@the.privatier/12-important-things-you-need-to-know-when-deciding-about-investing-in-bitcoin-cash-or-bitcoin