Bitcoin, Altcoin & Altseason

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Avatar for HappyBoy
3 years ago

Patience is running out, people are asking when are we going to see a pump in the price of bitcoincash, so many speculations and assumptions are made but no one can give a particular time. Then most conclude that we need to anticipate the altseason. An altcoin is a shorter way of saying alternative coins. Bitcoin is still regarded as the Major crypto which others are just altcoins.

Altcoin season is a general term used in the crypto-verse when other coins are pumping high while bitcoin remains stagnant. This is the period when money flows more into alternative coins more than it flows into bitcoin. Many believe it occurs when BTC dominance decreases, this makes investors shift their attention to other coins, to make a quick profit and then dump later.

It’s a  known fact that Bitcoin has a huge impact on other cryptocurrencies. In the last few days, we’ve seen a drastic surge in the price of BTC, with it hitting a new all-time high, however Bitcoin isn’t the only coin pumping in the last few days, Shiba Inu also got a new ATH, likewise Ethereum. Does that mean Ethereum can no longer be classified as an altcoin like the other?

The current price of bitcoincash has given so many people concern but looking at other coins, they aren’t pumping well either. Litecoin, monero, BNB etc are also rising at a slow pace compared to ETH and BTC. With this, I believe the speculations about reasons why we might be having slow progress, can reduce.

We aren’t focusing on the right thing.  Ask many people why they are into crypto and their go-to line would be “For financial freedom”, by that they mean - “ an investment that will make them wealthy in the next few years”. Is that truly what financial freedom entails?. Let me cite a quick example. After carrying out a transaction from my bank yesterday, I decided to get airtime from my bank app but was shocked to see a reduction in the amount there. I went to my transaction history and saw some amount of money deducted for stamp duties. This is just a part of the compulsory transaction fee. By the end of the month, another fee will be deducted for SMS charges.

However, with cryptocurrency, we have the power over our money, no time restriction, no extra duties charges, no delay in transaction, no prying eyes monitoring your every move. That’s financial freedom. That’s what crypto gives. Or let me say that was Satoshi’s vision. Before you get too excited about the pump in bitcoin, ask yourself if it’s still fulfilling the purpose for which it was created.

According to a tweet by becashy, the purpose of crypto is to unbank the bank. But bitcoin is gradually giving the power back to the bank. To people like Micheal Saylor for example, what truly matters is the claim to being the world reserve asset. Whatsoever it takes doesn’t matter, even if it involves giving power back to the government.

Screenshot from twitter.com/@Saylor from page.

 Rather than focus on price in moments like this, we should be rallying around on how the adoption of bitcoincash can grow faster. The high transaction fee, delay in transactions are one of the few ways bitcoin has failed in fulfilling the purpose for which it was created.   Bitcoincash is poised for a  great run, it’s a matter of time before we see it hitting a new all-time high and breaking free from the shackles of bitcoin. we only need to be patient and do our parts while we wait.

In Conclusion, Ethereum is gradually gaining ground and losing the tag altcoin. Someday BCH will also lose that tag and nothing like altseason. It will rise at its own accord. My only fear is it not turning into a "store of value" with people refusing to spend it just like bitcoin. But it seems I have the answers to my questions already .

Thanks for Reading! 📈💚📉

Special thanks to @bmjc98 for the sponsorship renewal. Thanks ate 🙏💚

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3 years ago

Comments

Nice efforts yarrr

$ 0.00
3 years ago

I wish BCH would break its ATH this year. That would make me very happy as a holder.However, I know I must be patient. Regards

$ 0.00
3 years ago

I am patiently waiting for the alts to pump. My all assets are in altcoins. Haha, the fact is we are not even able to hold Bitcoin.

$ 0.00
3 years ago

Yes from last two hours i read three comments about Bitcoincash rise queries. But other Coins showing better boom so we shouldn't miss the chance.

$ 0.00
3 years ago

I hope he goes to the moon, but first, he lets me reach the precious 1 BHC ahah. Otherwise, it would be an almost impossible task.

$ 0.02
3 years ago

Exactly! This current price present to us the chance to earn more Satoshi. When it rises, it will be hard to earn much Sat.

$ 0.00
3 years ago

The people who where meant to be a booster to it seems not to and we with little bitcoincash can’t alter the market value from our exchange’s and usage... I do believe there’s more to be attained in staying within this coin as others keeps growing we kind of feel insecure...

$ 0.00
3 years ago

Dude, are you researching on this? Seems informative.

$ 0.00
3 years ago

I actually thought Ethereum has broken off from the altcoin club, it's suppose to be a boss by now 😆I guess there are different factors that goes into how altcoins pumps, aside the BTC factor

$ 0.00
3 years ago

Nice one boss 💪 will like to learn more about this coins 🤗

$ 0.00
3 years ago

Rosh! We need to talk. Check the message i sent to you.

$ 0.00
3 years ago

Okay boss

$ 0.00
3 years ago

I'm sad actually with what's happening right now I feel like BCH was being left behind. But, but I really trust Bitcoincash I put all my trust in it so I will wait patiently for it's rigjt time where BCH cam shine brightly. So yeah, we should really focus more on how we fan help Bitcoincash to grow, to let people know about this awesome coins.

$ 0.00
3 years ago

You have said it well brother. Crypto offers us that freedom of being scammed by all the so called financial institutions that charge outrageously just because of a few transaction that was carried out

$ 0.00
3 years ago

BTC it self started like this year's back, we just have to believe in BCH and work it out to be bigger and better than BTC.

$ 0.00
3 years ago

This is a wonderful domain that can change the transaction in the economic world that requires learning and analysis

$ 0.00
3 years ago

Wow, you're definitely right. Investing in BCH at the moment would definitely do wonders in the long run, it's just a matter of time.

$ 0.00
3 years ago

I also heard from my brother the reason why BTC wenr down the other day because it is already altseason....but still i cant see a pump only in ETH haha

$ 0.00
3 years ago

Wow I saw a tweet that pop up on my phone the morning I was surprise it about crypto and it says if you are under 30 you should invest in crypt Note: crypto is the next generation

$ 0.00
3 years ago

BCH rise or fall we go nowhere. I am not a speculator and I don't know how they do it, my aim is to be able to use my BCH freely the same way I used Fiat currency today. I hope that day comes soon.

$ 0.00
3 years ago

Some would go with the coin that could offer them higher returns. But for us, we go with BCH as it is the future digital cash. Many really can't see its true potential because they are being blinded by the prices of top cryptos. We just have to be patient to wait for BCH new ATH

$ 0.03
3 years ago

Exactly! The price of other cryptos is getting to people.

$ 0.00
3 years ago

You are right...we need to support the growth of BCH and lift the purpose of why it was created since it has so many potentials of why it was created to limit transaction fees and others.

$ 0.05
3 years ago

Right bro, if we focus on that, it will inadvertently increase the price too.

$ 0.02
3 years ago

You're right... let's play our part to enlighten the society on how BCH can be adopted and made as a means of making payment.

$ 0.00
3 years ago