Bitcoin Cash fell very hard to rank #19 as per CoinGecko data and rank #18 as per CoinMarketCap, my favorite coin was demoted even on the top 15 and I saw the new coin added that was ahead of it was AVAX,ATOM and LUNA. I was like “What so great about this coins that even on bloody market it goes up?”
The reason it fell was due to the Marketcap drops hard to 9 Billion dollars plus from it's usual Marketcap of 10 Billion. It's heartbreaking seeing the coin that I put my hope a lot just like others are slowly decreasing it's market capitalization. (I don't know if it has something to do with Marc Demesel's attack and noise.cash hacking, or maybe it's only coincidental, so I won't go into details since I am not sure with the information. If you want to know more, just DYOR)
Rise and fall of coin is normal
I posted a short post at noise.cash about this, seeing that it was so sudden that it drops to top #15. As a one year old in crypto this was my first time seeing Bitcoin Cash BCH fell down to almost rank #20. Data below was gathered as of writing this article, Sept. 29 7:45 AM PH Time.
CoinGecko
CoinMarketCap
I opened CoinGecko as I searched new token, then I noticed fell to rank #19 and I was like whaaatt??? I mean what happened? Does BCH whales are dumping it? 😱😱 I know I should not mind it, but my favorite coin was demoted very hard even on rank #15 by other coins like AVAX, ATOM and LUNA.. even if the awaited SmartBCH is already there why would it fell so hard like that?
Hmm I remember someone told me that Market will really look uglier in September just like history, it's bloody haha wake me up when September ends lol.
But we should not panic, we can accumulate more in the dip. That's the beautiful thing will ever happen during the dip, let's just hope it will not fall below $400 but if ever it happens JUST DON'T KEEP LOOKING AT YOUR WALLET!! 😂
Yes, rise and fall of the coin is normal at least BCH has organic growth than other coins that was only based on hype. Bitcoin Cash community and devs are doing their best to improve and keep scaling while new projects are slowly growing such as SmartBCH. Don't be afraid, believe that BCH is constantly innovating and is adopted by 9, 359 places merchant worldwide considering it was only four years old.
Bitcoin Cash BCH adoption is growing continuously. The website map.bitcoin.com already lists 9359 places where you can pay with Bitcoin Cash. A month ago it was 9167.
That is an increase of 292 or about 3% in one month. Only in one month, more Bitcoin Cash merchants have joined than LN-coin merchants in 2 years. No matter whether the price falls or rises. The number of merchants is growing. That is the strength of Bitcoin Cash.
Source: Telesfor post at noise.cash (For more BCH solid information please follow sir Telesfor account, both read.cash and noise.cash. You'll learn a lot from him as well. Follow Marc Demesel, and Simon noise.cash talking head)
Accumulate More In The Dip
If we back track history September is really a bloody market, but I was already in crypto last year. Yes it was down but BCH was still belong to top 10 that time.
I am not technically knowledgeable but I still believe with BCH, with the strong community, technology and projects on going I think the fundamentals of this coin never changed. Ranking was just based on Marketcap as mostly people are buying hype coins, when there is massive buying of certain coin the market capitalization increase but when the hype is over of course massive selling will happen and the coin will dump. BCH growth is organic and was never based on hype, I think that growth will always outshine the hype of other coins for long term.
Instead of worrying, let's just do our best to accumulate more during the dip. The more it dips the more BCH we got, when BCH finally takes off whatever we got during the dip will be 2x, 3x, and more X in the future.
Think about it as long term plans instead of worrying the up and down of prices, always remember 1 BCH is still 1 BCH whether it rise and fall in dollar value.
BCH price below $1,000 is still a bargain and good chance to add stash, don't miss the chance! Thanks to the dip, I am almost 1 BCH this September.
Closing Thoughts
Instead of worrying, it's a perfect chance to accumulate more before the bull run round 2 will be back soon.
Let's always remember whatever goes down may go up and whatever goes up must come down as well. Focus on seeing the BCH digits not the dollar value.
Accumulate more and hodl!
Remember what Changpeng Zhao said,
“If you can't hold, you'll never get rich!”
Actually, it's not about getting rich it's about having freedom with your own money and not about financial freedom but of course it will happen as long as you are a wise investor as well.
Hodl, hodl, hold, hold on for dear life!
Thank you for reading!
Note: Original content unless revamp.
Date Published: September 29, 2021
Our BCH community is strong together and i know we will be able to hodl.