BCH – Another test failed.
Oct 25, 2022
A few days ago the price of BCH collapsed, as a result of the fall of BTC. BCH went below $110 USD and we are all worried about this price. Going below $100 USD is like a loss these days.
Now you might see a slight increase in the price of BCH and be happy. It's normal to be happy, but it's not that bad. If we take the current BTC price as a reference and look it up a few days ago, to see what price BCH was at at that time, we would surely realize that BCH has not recovered its value.
Take for example on 10/6/22 the price of BTC was over $21,200 USD and BCH was around $121 USD on that date. Right now BTC is having a hard time reaching $114 USD as I write this article. It is for these reasons that I believe again, that it is another failed test. BCH always loses out, and it is logical, BTC, no matter how much we say here, is everyone's favorite on a global scale to obtain profits.
Will it ever go up? Do we expect a miracle that does not exist?
I respect all the criteria, but what I see is the following:
I know the facilities of BCH and all the good it can do as a P2P trade, but if I were not in this world of crypto and someone tries to convince me to buy BCH, I would be scared to see the chart with only a drop from its ATH, constantly.
Would a restaurant owner accept payments in BCH? They do it in different parts of the world, but I don't understand why. They would be constantly waiting for the price not to fall or they would have huge losses since let's imagine that all payments are in BCH, absolutely all of them. As things are, the BCH collapses from one day to the next, and goodbye restaurant, it is impossible to maintain. All working capital has disappeared or the budget has been considerably reduced.
To all my physical friends (that I know in real life) who know the crypto world since they have been in this for years, I tell them about BCH and they tell me to get out of it. It's a bad vibe all the time.
There is another community supporting BSV, and they understand, not surprisingly, that BSV is superior to BCH. Who is right?
The point is that we are more divided than ever and nobody knows what will happen. Perhaps in a few years, everything will disappear and the bubble will burst at once. The BTC becomes a memory and millions of people and thousands of companies go bankrupt, while others, 50% of those who once bought crypto, come out on top, with the money of the losers.
Between inflation, the war, the "missing" covid-19, and the price of cryptocurrencies in this red market, where will we end up?
I'm going to bed a little earlier today. I am very sleepy. These days it hasn't been very quiet and I've had to sleep very little, barely 4 hours. Today I am going to sleep at least 6, an increase of 2 hours at least.
Tomorrow remembers that it has been a week since I published the BCH price contest. Tomorrow's article will be for the contest again, so they could give their predictions there, they would have 5 opportunities left. Remember that all those chances are averaged afterward in case there is no direct winner. Tomorrow I explain better.
See you tomorrow!
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its hard to predict now since the pandemic are one of the reason, before you can see a brighter side of the value now its hard to predict but the best thing is there is a recovery as well, yeah last week i join and i hope tomorrow i will wait of your post again to join