Bitcoin Cash Price & Principles

The price valuation of Bitcoin Cash (and the rest of cryptocurrencies) dropped significantly lately. The crypto-havoc makes it challenging for anyone to sustain the same zeal as before, yet we watch Bitcoin Cash once again rising to this challenge.

In macro terms, the rise of stablecoins in 2020-2021 created new terms in the market, terms previously we wouldn't consider. Exchanges reduced their bank deposits, increased Tether usage and later USDC, and even integrated the UST Ponzi.

The long-run is a period between two to five years, sometimes up to ten years. After ten years, prediction models become highly inaccurate to sustain any decision-making process.

Even when examining models for the next five years, predictions are unable to fully integrate or analyze multiple variables. Yet, sometimes, some events will be predetermined and carefully planned.

There are two ways to predict a trend accurately. One is by looking at the fundamentals and historic events, and the other one is looking at charts.

Charts also cover and represent historic events, however, they can also deceive the researcher quite easily.

Why selling (this) low is probably a mistake

Some key-takes on the current Bitcoin Cash price:

• The chart is close to historic lows

• Just one year ago the price was 10x higher

• BCH has an enthusiastic and professional community

• Constant Developments

• Rising merchant adoption

• SmartBCH

However:

• The price can always go lower

• Crypto media present BCH with a negative approach

• Onchain transactions did not follow the rapid merchant adoption

• Bitcoin Cash is affected by the price action of BTC

Certainly, merchant adoption is doing wonders for the promotion and usage of the Bitcoin Cash blockchain. However, the user numbers have not vastly increased.

Bitcoin Cash and other cryptocurrencies remain an option available to the consumer, but consumers decide to ignore them and still choose fiat currencies instead. The fiat currencies, no matter if they are hyper-inflating, are still the prime choice for multiple reasons.

The main alternative most have identified is Bitcoin (BTC though), and when anyone tries to use BTC, finds out there are so many difficulties and such a cost that forbids their transition from the legacy monetary system.

The latest options developed in the previous five years are custodial solutions that enable the use of the Lightning Network, in a regulated, KYC forced, and censorable approach.

Bitcoin Beach Wallet, Chivo, Strike, and more custodial LN wallets are what the BTC maximalists advertised. All are supervised and under the control of financial institutions operating in terms that create the ability of intervention in transactions.

Decentralized, Censorship Resistant P2P Electronic Cash for the world

I’ve watched an Amauri Séchet interview recently, where he seemed nostalgic about the years of his work with Bitcoin Cash. Of course, he had nothing positive to say, and clearly, eCash needs this kind of attitude to sustain itself, however, he clearly explained the whole reason eCash exists, is because there was a funding problem in Bitcoin Cash, leading back to the tax proposal on coinbase transactions.

I never write about eCash and barely write about BSV either, as I find no reason to discuss the two splits. I highly doubt the Bitcoin Cash community wants to revisit these days, still, Bitcoin Cash works perfectly without a tax.

Some had a different approach and decided egos were worth more than the project, the vision, and the community.

Even as someone outside of Bitcoin Cash during that split (eCash), I always felt this was likely the most unnecessary division in the Bitcoin Cash community.

And this led to some prominent Bitcoin Cash community members and supporters leaving. Although, most left knowing they were abandoning the project that is still the prime contender for P2P Electronic Cash.

I can understand that financial incentives sometimes lead people in mistakes, although if it was all about the money, then wouldn't everyone of us have an easier time (and income) if we were just promoting BTC and supporting Bitcoin maximalist narratives?

Both these splits (BSV and eCash) cemented my decision to invest in Bitcoin Cash and become part of its growing fanbase.

I discovered strength and reason in Bitcoin Cash and a network that wasn't willing to take discounts on ideology. The message was clear:

Decentralized, censorship-resistant P2P Electronic Cash for the world.

Bitcoin Cash, and even more cryptocurrencies with means of exchange features such as Litecoin or Dash, are suppressed and sustained at artificially low levels compared to BTC and Ethereum.

Dogecoin is close to reaching the price where Musk started hyping up ($0.04) the price where the (ex) Dogecoin millionaire bought and at some point claimed it will never reach again.

Exchanges tied trading algorithms to BTC and suppress the price of multiple coins that are considered competitors as digital cash.

In Conclusion

The Bitcoin Cash message is delivered better during bearish times in crypto, where noise is less and doesn't completely cover those projects that work towards a certain goal.

When everything else collapses and communities lose hope, Bitcoin Cash keeps building and expanding adoption.

The initiatives and people committed to spreading Bitcoin Cash adoption are more than ever.

In Argentina, the Caribbean, Venezuela, Australia, the USA, Japan, Hong Kong, and lately India, Bitcoin Cash adoption is rising parabolically.

Money is at a crossroads today.

Some with enough experience from the previous global financial disaster realized trust in financial institutions is a point of failure while the legacy financial establishment is hanging on the edge of a cliff.

The same system that Bitcoin was created to replace is constantly embattled by those that claim to be Bitcoin maximalists. There is a lot more than the price, which definitely makes many lose confidence when it drops, but it should be the last metric to judge the qualities of a blockchain network.

The price matters, but not as a metric that explains the differences between cryptocurrencies. The price of Bitcoin Cash will organically grow when the market escapes deception.

• Cover Photo: by " xresch" on  Pixabay

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