Sirwin
Sirwin

Why I Dumped Bitcoin Cash (BCH) for AAVE

By Cryptofab | Cointune | 29 Jun 2023


I've been following the crypto market for a while now, and I've learned a few things along the way. One of the most important things I've learned is the famous rule "buy the rumors, sell the news."

This means that if you see a cryptocurrency that is starting to pump based on rumors, it's a good time to buy. But once the news comes out, and the price starts to peak, it's time to sell.

That's exactly what I did with my Bitcoin Cash (BCH). I'm happy that BCH pumped so much lately. It was a good move. But the reason for the pump is based on the launch of EDX Markets, which is backed by Wall Street giants, and hence linked to the rumors that the SEC is going to approve a BlackRock Bitcoin ETF...

While I think there's a good chance that the ETF will be approved, there's also a chance that it won't. And if it doesn't, the price of BCH could crash.

So I decided to sell my BCH and buy AAVE. As you may know, AAVE is the token of Aave, a lending protocol that's been growing in popularity lately. It's also about to launch its own stablecoin, GHO.

I think AAVE has a lot of potential, and I'm confident that it will continue to grow in the future. So I'm happy to take my profits from BCH and invest them in AAVE.

I know that some people might think I'm crazy for selling my BCH at a time when it's pumping. But I'm playing the long game. I believe that AAVE has more potential for growth than BCH, and I'm willing to take a short-term loss in order to secure a long-term gain.

Will I be right? Only time will tell. But I'm confident that I made the right decision.

Disclaimer: The information provided in this post is for informational purposes only and should not be considered financial or investment advice.

For more insights on crypto: Follow me on Medium or Twitter.

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Cryptofab
Cryptofab

Studying Bitcoin, Alts & Arts.


Cointune
Cointune

Crypto, DeFi and passive income.

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