Join 91,702 users already on read.cash

Bitcoin Cash Among the Losers of 2021: A Matter of Focus

2 38
Avatar for Jnavedan
Written by   203
4 months ago

Calibrating the sights

Yesterday I saw the last interview given by @MarcDeMesel, recently uploaded by him to his YouTube channel. A pleasant conversation with the presenter, Thomas from Golddust, where they talked for almost two hours about the behavior of the cryptocurrency market in general based on the performance of their investment portfolio, which was undoubtedly affected by the unpleasant situation with the authorities Kenyan that he is currently going through.

Something that should be noted at the end of the interview is the humility with which the maximum benefactor of this platform speaks of the change in attitude towards life by changing the priority from personal to family success. Yes, testimonial evidence of the personal growth you face.

Perhaps, needless to say, like many of my colleagues, I hope the best for those who, like Marc at the helm, do good to many here.

Well, enough of the necessary and well-deserved preamble.

Now, let's have a little fun with the reference to Bitcoin Cash's modest market cap performance this year.

You will recall, at the beginning of the year, BCH was in the top ten, and now it is ranked 24th or 25th in the ranking of major websites, such as Coinmarketplace and Coingecko.

Back then, I was just discovering BCH and nervously monitored every time I went in and out of the Top.

Eventually, I stopped suffering from it. With each line read, for or against, I saw more clearly what the game is like in this market. Also, to see beyond the obvious and discover the network of manipulation and greed that surrounds him.

In this sense, I wonder. Why did BCH lose positions on this benchmark metric? Did BCH lose its appeal to investors?

However, as an enthusiastic and knowledgeable user of the purposes of Bitcoin Cash, I recommend that you do not waste a lot of effort answering them, as it is obvious why.

I believe rather! We must focus on supporting the development of the ecosystem that is gradually taking shape.

For example, in DEFI based on SmartBCH and on NFTs with utility beyond art.

Now, if you are still concerned about metrics, I invite you to snoop around some captures from today. Perhaps you share the same impression with me without going too deep.

Source: Coingecko.com Screenshot 1 on Dec 27, 2021

Woof! I'm not surprised to see BCH in the top ten for crypto volume traded over the last 24 hours. Furthermore, this represents around 20% with respect to its market capitalization. Draw your conclusions.

Another curious aspect. In this Top, there are three that are Stablecoins. I wonder how decentralized they are? Even one of them significantly exceeds its market capitalization. I will be honest with you. I don't know how to interpret it.

Source: Coingecko.com Screenshot 2 on Dec 27, 2021

Wow! Again you see BCH in the top ten. Well, you shouldn't be surprised either. You will know that bitcoin cash is perhaps the most undervalued crypto on the market.

Look! Another curious aspect is to see tokens here that are BTC envelopes. That is to say: in the first instance, they have no other utility from which it inherits.

So, jump back to your conclusions.

Source: Screenshot 3 from Coingecko.com on December 27, 2021

Wow! In this top ten ordered by best performance in the last seven days, BCH does not appear. What happens? Should I be worried? Well, I don't see the potential threats either.

Now you get the point! Don't get carried away by metrics. At least, not the ones that change at the slightest gust of wind. Yes! Look at the vehicle's tachometer where you travel, but most importantly, work on improving its performance.

Final thoughts

The title of this article has a tinge of sarcasm, in case you hadn't noticed.

Typecasting BCH among cryptos that lost positions in the ranking is technically correct but not entirely true.

Yes, I agree that the price of BCH is low (intentionally undervalued); Which masks and minimizes the correct course of the development of the ecosystem.

However, I am also confident that BCH will soon reach the usage stratosphere. Adoption is slow but steady, and the only thing missing is the consolidation of the minimum conditions for the transition of the system.

So if you are embarking on Bitcoin Cash, congratulations; You are in the right boat.

You are already a winner!

An original article by @Jnavedan

Cover image by Alexandr Podvalny on Pixabay 

11
$ 17.54
$ 17.02 from @TheRandomRewarder
$ 0.10 from @Jane
$ 0.10 from @Pantera
+ 8
Sponsors of Jnavedan
empty
empty
Avatar for Jnavedan
Written by   203
4 months ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

I think the coin market will recover soon. I am also very happy with Bitcoin Cash, which I have been using for a while.

$ 0.00
4 months ago

I think the coin market will recover soon. I am also very happy with Bitcoin Cash, which I have been using for a while.

Yes, I think that the market will still be on the rise during the first quarter of 2022. Of course, we will have to be very attentive to the information not only from the crypto market.

The world economy is experiencing changes that are difficult to predict with certainty.

Greetings.

$ 0.00
4 months ago