Is BCH fighting back?

Jun 19, 2022. No. 269

For more than 24 hours, the price of BCH has been defending itself like a cat upside down against the fall of BTC. Had he not done so, he would now be below 90 usdt easily. But it turns out that it had a breaking point and despite being still in sync with BTC, it did not suffer as much in the falls, because it recovered strongly, although BTC did not recover lost ground, BCH did so quickly.

This made it possible for it to always remain in a range above $110 USDT. It even went down a bit more, but it bounced back hard. When BTC was worth $17,600 USDT today, BCH was at $111 USDT. This is a truly admirable thing to accomplish. A day when even ETH dropped below $1000 for faithfully following BTC wherever it goes.

I currently have only 0.38 BCH here in read.cash. I sold the rest a long time ago. If I bought them again now I would have a profit of more than 2 BCH. But I don't want to buy them. For days I have been saying that the BTC will fall and it did. I'm not a fortune teller, just that it's logical. The world is not for these questions and the price is extremely high.

Political sanctions, wars, hunger, uncertainty and other issues cause extreme fear in investors. Also, I have told some that I am too pessimistic these days. It's a matter of logic. It has not been easy for me or for many in these times. It's hard to believe that some people outside of this realm would get into crypto or accept it as a payment method. Even BCH with all its speed and stuff, but that's not the issue, the main problem is its volatility. How do you explain to someone that they have to buy a currency and that 2 minutes after buying it, its price devalued by more than 10% because it fell sharply? This is somewhat illogical. While everything is green it is rosy, but what has been shown in these times is that even 2 years later, BTC and other cryptos can return to their original state.

If you are a Holder and have never taken profits, then you are in trouble. The traders, the good ones, don't hold any currency, they stay stable all the time, they accumulate money. BTC has fallen more than 60% so far this year, ETH has fallen 74.91% and BCH has lost 74.16%.

I don't think an ordinary person is capable of understanding this and buying a currency, only crazy people are in this. It's like betting to win, but you can really lose everything.

The money that you are getting from profit, is the money of another person, that he just bought that currency. So only 50% of people can win, this is basic warehouse math. When some guy bought some pizzas more than 10 years ago, the machinery began to run and the money began to circulate. The same thing happened hundreds of years ago when some people bought tulips at an extremely high price, increasing their value, without being justified, until one day, when no one else wanted to pay that price and the house of cards completely collapsed leaving many in broken bank.

That BTC is going to 100k in 2021 they said, that we would never see it again at 28k, that 24k was a clear resistance, that below 20k it is impossible, that 10k will never be seen again. Personally I think that nobody knows what will happen, but I keep saying that it will fall even harder, for everything I said above. When this happens, eventually the BCH will follow, it has no other choice and it will fall below 100. It is inevitable.

It only remains to try to guess what the dip is, and buy back. This is an impossible mission at this point.

PS: This is my opinion, it is not investment advice or fear at all, it is pure statistics and the vision of a troubled world and a bear market. I could still be wrong :)