Bitcoin Cash Always Recovers: When in Doubt, Zoom Out
Bitcoin Cash and the crypto markets have suffered plenty of massive price drops since their inception. Each time, the market has recovered.
When in doubt, zoom out.
The crypto markets have been through a lot of ups and downs since they first came into existence. It’s no wonder that they are many people’s idea of the wild west. However, there is a method to the madness. Every time one of these massive drops happens, one thing remains constant: the market always recovers.
When the Bitcoin Cash (BCH) price falls, it's tempting to focus on the immediate reaction. But if you're looking for more lasting value, you might want to look at the bigger picture.
Like every other market, the crypto market is subject to cycles. The upside in crypto has been strong over the last year, and that's led to some big gains. But when you look at long-term trends, we see that prices are still relatively low compared to where they were before 2022.
The best way to understand this is to zoom out from your own personal experience and look at the bigger picture.
Not just Bitcoin Cash, every other crypto is affected by the dip. Also, BCH has experienced a price lower than what it is today.
According to Bitcoin.com, the BCH price reached an All Time Low of $73.85 on December 15, 2018 (3 years ago).
The BCH price as at the time of writing this post was $114. Comparing it with the ATL, today's price is still 54.4% higher.
A look at the BCH price last year (2021) - the opening price was $342. In May it reached over $1500, but the year ended with a price of about $430. And today we have $114.
There have been many occasions in the past when the price of Bitcoin Cash has fallen. However, one thing that remains consistent is that it always recovers.
The cryptocurrency market is always volatile, but it's also prone to sudden and dramatic swings. When the markets are up, they're up—but when they're down, they can be down in a hurry. That's why it's so important to have a plan for how you're going to respond when things go south.
If you have a strategy in place, then you'll be able to take advantage of these cycles and ride them out while making money on the way up and cutting your losses on the way down. This can help lower your overall risk while increasing your profits over time.
In Conclusion
Crypto market price falls are inevitable. Once you learn how to look at the bigger picture, you'll be better equipped to handle them.
The first thing to remember is that crypto market price falls are just part of the game. They're a natural part of the market cycle, and they're going to happen again. So let's not panic when we see our crypto go down—we know it's only temporary!
