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From Moon to Taking Off Again: Another Bitcoin Cash Opportunity.
Before the recent crypto market crash, Bitcoin Cash did not disappoint us and also rallied above of its psychological resistance of $1,000. Bitcoin Cash reached $1,650 making it as its annual high for 2021...that was more than 350% since the start of the year.
When we saw Bitcoin Cash rallying and trading from $1,000 to $1,600, we thought to ourselves that this will be it, there's no going back below $1,000 again and that we were heading to $10,000 and those who had the golden hands who holds Bitcoin Cash around a hundred dollars will feel its worthiness.
But because of the market's volatility and unpredictability, a huge market crash happened making most, if not all, of the cryptocurrencies lost their values for more than -60%. And with that crash, Bitcoin Cash was not an exception and also lost more than -60% of its value from its recorded annual high. Currently, as I'm writing this, Bitcoin Cash is trading around $608.
From what happened, and since I am a holder of Bitcoin Cash, it was really painful to look at the chart of Bitcoin Cash making a solid red candles in any timeframes that even reached $468.13, which I think is already the bottom of Bitcoin Cash after the crash.
People feeling fear and being skeptical about the crypto market because of what happened while for myself, I was feeling greedy and saw it as an opportunity to grab the coins I love as much as I can. And one of those coins is Bitcoin Cash.
Why? Simply because I have a strong faith about it and I believe that fundamentals first, then price comes next.
When I had the chance to have a good amount of money, I bought 1 Bitcoin Cash at the price of $900. I intentionally did this to be a certified 1 Bitcoin Cash holder and the Bitcoin Cash I got from writing articles and making short posts are excluded on this one. I write about it and you can read it here:
But that was not it. Since there are still lots of uncertainties in the crypto market after the crash, I decided to not buy directly a whole Bitcoin Cash again because the possibility of buying it a little bit cheaper was high so I have decided to use Dollar Cost Averaging on buying Bitcoin Cash.
Currently, I have more than 1 Bitcoin Cash in my Binance account that I have accumulated in the dip.
Since I know that the crypto market hasn't settled yet its sentiment (I'm not being a pro analyst), I still haven't transferred this whole Bitcoin Cash in my non-custodial wallet for a reason that I wanted to accumulate more Bitcoin Cash as much as I can by taking advantage of the market's current volatility. So untill the market is back on track, I will still trade Bitcoin Cash in order to have more quantity to be held for long term.
"Because it is fast. It is cheap. It has great fundamentals and it's the real Bitcoin".
Yes, those are also a reason why.
But I am investing in Bitcoin Cash for 2 major reasons:
Bitcoin Cash is a non-stop development. Mostly everyday and in every country Bitcoin Cash is being adopted and it does not stop from its vision to be globally accepted. And since that's how things are currently going, I can't wait for that adoption to reach here in our Province and I will be very glad to be one of its early users here when that happens
Bitcoin Cash is also a store of value. Not to be a hypocrite or anything with sugarcoating, I invested in Bitcoin Cash as I see it as an asset comparable to Bitcoin and Gold as a store of value. No, I'm not telling anyone that the price of Bitcoin Cash can be the same with BTC (which is still possible, coz this is crypto), but what I mean is that Bitcoin Cash can also be worth tens of thousands or even hundreds of thousands in the long run. BTC were only valuable not because of its bad fundamentals, but simply because it was the first cryptocurrency. That's it! But Bitcoin Cash can be very valuable because it's fundamentals. The stronger the fundamentals are accepted, the the higher the demand. And the higher the demand is, the more valuable Bitcoin Cash is.
After everything I said above, this is not a financial advice. You might find Bitcoin Cash as a worst investments and I might find your supported project as a worst one too, but we must show respect towards each other. Afterall, we are all here for decentralizations.