Even though Rusty seems to be on a break, I don't feel all that down because when I look at my Bitcoin wallet, all I see is an increase. The BCH market seems to be on a vast bullish trend going from 400 to 610, can you imagine!
Last month we were all worried because our wallets seemed to be decreasing drastically, and even though Rusty was visiting us, we still feared the decrease in the market. Some of us lost incredible amounts due to the fall, but it seems October has shown some love to BCH, don't you think so?
I have watched some analyses before, and they all seemed to predict this. It is not only BCH that seems to be having a bullish trend but also SHIBA INU, and I can remember buying SHIB last four months when it had that massive dump.
I was depressed because it was advertised everywhere and people seemed to be buying it, suddenly it crashed to the lowest of lows for four months, and I completely forgot it. But this week, it has had a 59% increase, and things seem to be bullish so far. Things aren't great yet, but my portfolio has been going up so far, and I am happy now.
One of the reasons I love crypto is that you can lose significantly and become poor or win considerably and become a billionaire! It all depends on the market and maybe luck sometimes.
The world has been fighting cryptocurrencies for a long time because of their many disadvantages it has. Let us check them out.
First is Control: The government love to control things, and when they can't, they mark it out as a bad thing, no one controls crypto, and this is the problem; the government can't understand crypto is the people's money, and they shouldn't interfere with something out of their control.
Some countries have limited the use of cryptocurrency by their citizens because of fear; I am looking at you, China. Sure it is good to control something, but this is crypto; we shouldn't mess with it, laws are being passed to control it, but these laws don't benefit the people. They only benefit the government.
Soon they will add so much taxes that we won't even have anything left when we trade, and I hope it doesn't come to this because when the government enters something, it tends to become confusing.
Volatility: This is crypto, in a nutshell; it has the potential to go from 64k to 28k in just one week as we have seen from BITCOIN; at the beginning of the year, Bitcoin seemed to have a lot of bullish trends, and this could be attributed to Elon Musk's tweet.
Elon Musk has been a significant investor in crypto this year, buying Bitcoin, Dogecoin, and Shiba Inu.
He hasn't shown an interest in BCH so far, but I know soon he will come to know the potential of BCH, just like our @MarcDeMesel who has seen the potential in BCH and is trying his best to get it out there.
Some of us don't know this, but ReadCash is also a means to raise awareness of BCH, and it seems to be doing a great job because we currently have 75k users. BCH seems to be reaching everyone, and more people know of it now compared to 2018 where it was considered a failure. Even though the media is trying their best to censor BCH, it won't fail as we have seen this recent bullish trend. BCH may be the next Bitcoin; what am I saying? It will surpass its older brother and get to 100k!! Maybe even become a global currency.
Illegal Uses: Ever since the release of crypto, many issues have been found, but the most dangerous is the issue of security; Bitcoin is the primary currency of the dark web. This issue is because it is impossible to track bitcoin.
This issue is also why I was not too fond of crypto when I learned more about it.
Fraudsters, drug traffickers, and all other traffickers use it for their benefit because Bitcoin and other crypto transactions are not easily tracked.
This issue also comes down to the issue of control; we don't know what will happen; in the future, Cryptocurrencies may be used to overthrow the world system leading to a crash in the noted currency as we know it, and the government isn't happy about this.
Crypto has a lot of disadvantages, but this is because of the users and not the coin itself; it has the potential to become the global currency because more and more people are using it, either as a means of payment, transactions, purchases etc.
Don't worry about the issues; just like everything on earth has disadvantages, crypto also has advantages. You have to look at the prospects, and you will not be afraid. Explore crypto and learn more about it; SmartBch is also something I think we should all get into because it is the craze now.
The future is bright for crypto, and we should all endeavour to get our hands in this because you can be a millionaire in just one trade and lose it all in one trade. As I write this, Shiba Inu is in 100% increase, and I want to check my profits.
Thank you for reading, and I will see you in the next one! Bye!
Crypto is neither bad nor good, it all depends on the person using it