Bitcoin Private has probably been the biggest pump and dump coin I have seen since entering the crypto world. Being a bit inexperienced I jumped on the bandwagon and rode the hype from $40 Z Classic to $175 ZClassic pre-hardfork and bought all the way up :(.
The pump was exciting!! The dump afterwards was less than thrilling. I personally put almost $5000 in ZClassic just before the fork and just before the dump. I just knew that BTCP would jump in value and pass even Bitcoin Cash. Oh how wrong I was! I learned a very valuable lesson, but I think I also got pretty lucky with this coin. Keep reading to find out why.
A couple months have now passed since the hard fork and my BTCP is safely in a BTCP wallet. I have not dumped it even though sometimes it feels like my money could be working much better for me somewhere else. And as I hodl, I have been watching the team behind BTCP work. I am starting to see beyond the "today price" and think I am seeing the creation of a really great crypto to hodl long term.
Check out the development roadmap. It is both aggressive and ambitious, but they are really making some amazing progress!!
I see the goals being hit. I have watched as they have beat some of their deadlines. And I am seeing a lot of interest in BTCP. Not so much here in the West, but mainly in the middle east, india, etc. There is a lot of enthusiasm with regards to the privacy aspect and merchant support. There seems to be a real grass roots effort to create a customer/merchant payment solution WITH privacy built in. We saw that when the BTCP team actually changed their roadmap when the community wanted merchant support prioritized. The team actually responded to the community and made the merchant support a priority and are close to launching the merchant platform after only a couple months.
I see this as a major plus as long as our nosy governments don't try to ban privacy coins. They love to snoop don't they!
Recently, BTCP were listed yesterday on Hitbtc, and a couple days before that on Sistemkoin - this is great news for the community and I think will create more interest and the availability to purchase and trade BTCP.
With 50k followers on twitter now no one can really deny that there is a lot of interest here, even though this coin doesn't seem to get a lot of mainstream press. To give you a perspective on this; Zcash has 66k followers and has been around since October 28, 2016. Bitcoin Private has been out for just over 2 months, and nearly has that many followers. A year and a half is like 2000 years in the crypto world.
The future: The price today is at $47. I honestly think that this coin will appreciate very quickly. The merchant solution is getting very close. At that point we will see the utility of Bitcoin Cash with the privacy of Zcash. I think with the amount of adoption we are already seeing in the east, this phase of the coin will bring massive growth in price, and much more attention from the crypto community and the world in general, creating even more interest and growth. As long as development doesn't stall, and if total market cap remains around $450billion, I think we could easily be looking at a $100 coin by year end and the sky is the limit beyond that! If the total market cap gets an infusion of hundreds of billions like what happened December 2018, we could see BTCP in the $200-400 price range. Long term, (meaning 2-3 years out -lol - long time in the crypto world), I think we could see BTCP on par with BCH or we could see it exceed it. Keep in mind, just last December we saw BCH exceed $3000.
In my opinion this is a great coin to hodl long term, but be aware of the risks of it being a privacy coin.
Lastly, this is not investment advice - as disclosed in the first paragraph I am relatively new to the crypto scene, but am highly enthusiastic about it!