BCH, the endless story

Sep 19, 2022

When everything seemed that we would finally see the end of the bear market, BTC plummets again and with it drags down most currencies, including BCH. History repeats itself over and over again, like history without end.

It doesn't matter how much we talk about global acceptance, or how much we try to cover the sun with our fingers. The story is very simple, the BCH and the other currencies, or at least the vast majority of them, are governed by what the BTC does, except for some impulses of each one. Impulses that in the case of BCH are immediately drained by users and traders seeking instant profit. Traders make money (or lose), while holders only see how our capital is less every day.

For these moments the BCH is completely synchronized with the BTC. It does not even reach the levels it had before, that is, it is below. It always has a hard time going up, and here is the main reason for its current price. It seems as if it has enormous resistance, the lack of disinterest of other users in this currency and the bad reputation, make nobody want to risk even more in it.

The crypto world is a world of a huge bubble. It is true that it gives you financial freedom, and the possibility of paying instantly without intermediaries, but at what cost?

At first, there was nothing, the BTC was worth absolutely nothing. They gave it value because they bought it using USD. That is, someone invested money from their wallet to buy some BTC. And then the wheel began, more USD began to enter the system and some began to sell their BTC. What money was the one they got? Simply the money that others had entered. 50% of users win, and the other 50% of users lose money. There is no more classic way to explain it.

Let's hope that we are among the 50% of winning users.

See you tomorrow.