No Bear Market For Bitcoin Cash

There is no bear market for Bitcoin Cash.

The price of BCH in centralized exchanges may have dropped lately in terms of USD, however, this is not the primary focus of the Bitcoin Cash community. Price is a side target, to sustain and increase BCH valuation, but the immediate priority is the network and global adoption.

BCH has the ultimate purpose of replacing the inflationary State-manipulated fiat currencies. Nobody contends this can happen overnight but perhaps with decades of growth, adoption, and education.

It is a voluntary choice, adopting a better form of money than the legacy monetary system.

The current crypto market evaluates cryptocurrencies in fiat terms. This can’t change unless perhaps 50% of the fiat in circulation (physical and digital) enters the digital economy and cryptocurrencies in particular.

It is awful to watch prices dropping following the whims of BTC, yet it only proves the current valuation is not indicative of BCH developments or adoption levels. The price of BCH has importance in dollar terms, though, since in the business and consumer world, this is the established unit of account.

It is not speculation to expect the BCH valuation in USD to rise significantly in the coming years. It is an expectation stemming from developments, sustainability, and the increase of userbase.

Sustainable Growth And Adoption

A bear market would indicate effects similar to an economic recession. Loss of productivity, less funding, developments, liquidity. In the crypto realm, a bear market means the networks are abandoned as users flee, and "exit crypto" by liquidating their crypto-assets.

With Bitcoin Cash, we observe the opposite. New users keep coming, adoption is increasing, and developments are more promising than ever before.

Perhaps the liquidity in exchanges is less today since Binance turned to derivatives and almost all the centralized exchanges grew into casinos hosting and promoting gambling addiction. The trading volumes dropped, simply because the retail traders lost their money to Binance, Bitmex, and the rest over-leveraged unregulated exchanges.

Antagonists (BTC whales) shorted heavily Bitcoin Cash with overwhelming resources at their disposal. This becomes clear when watching the BCHBTC futures trading pairs in derivative exchanges.

The current BCH valuation is suppressed and not a realistic representation of recent developments. The actual value of BCH derives from the network effect of the blockchain usage statistics and, lately, the increasing numbers of volumes and users in smartBCH.

The smartBCH card is so strong that can create massive waves of adoption for BCH. It is still not popular yet with most DeFi investors and other smart-contract fields but will bring the expected results eventually.

The “number go up” narrative is not critical for Bitcoin Cash, although it doesn't exclude the need for a strong valuation and rising price compared to USD.

The approach BCH takes today is the correct one and the BCH price in fiat terms will rise, no matter manipulation or propaganda against it.

Exchange rates are a necessary evil. USD is the constant the world markets set, not a single individual.

Even on the occasion, someone can live completely on Bitcoin Cash or any crypto, still, for the foreseeable future, we can’t ignore price in USD (or in any fiat depending on the region of residence) since we have to interact with the rest of the world.

• HashRate

Bitcoin Cash remains one of the most secure networks in terms of hashrate

BCH may process just 2% of the hashrate of the BTC chain, however, it has a 1500 times higher hashrate than the third one in the hashrate list (Ethereum).

(source)

-BCH Hashrate: 1.522 Exahash

-Ethereum Hashrate: ~1 Petahash

The decentralization and security of Bitcoin Cash are evident and indisputable.

• Adoption

(source)

The userbase is increasing, and BCH finds more applications proving the point it can sustain mass adoption, even for micro-transactions.

There are initiatives around the globe that spend the Bitcoin Cash message and over 10,000 physical locations accept Bitcoin Cash. A lot more progress is demanded, but this is a good starting point anyway.

Bitcoin Cash has not reached mass adoption levels yet, but there is work in progress and hundreds of thousands of individuals have already used Bitcoin Cash with services such as noise.cash, and read.cash.

No other cryptocurrency has attracted so many individuals in crypto than these two websites. These two websites have performed a service to increase and spread Bitcoin Cash in the Cryptoverse and beyond.

Micro-transactions will be a huge part of the future digital economy. Noise.cash especially was an incredible test and for over two months, Bitcoin Cash transactions in 2021 surpassed BTC.

• Smart-Contacts with a reliable sidechain (SmartBCH)

Ethereum has brought tremendous innovation but has limitations and scaling issues similar to BTC. The thoughts of integrating sharding or rollups (layer-2) as a scaling solution seem distant and may take a few years to materialize.

SmartBCH offers a reliable and cost-efficient alternative today.

SmartBCH enhances Bitcoin Cash and opens new possibilities expanding into the promising field of smart contracts. DeFi, Dapps, and NFTs will find an application in a global digital economy, and smartBCH offers a reliable and cost-efficient platform.

SmartBCH is covering a gap in the smart-contracts field. The gap produced by the excessive demands of the Ethereum network for transaction fees and the gap other Ethereum sidechains produced in terms of reliability, security, and lack of decentralization.

Polygon, Solana, Avalance, and the rest of EVM compatible networks were supposed to be a scaling solution to Ethereum but massively failed for many reasons. Networks are shut down because of DDoS attacks and transactions are stuck for days.

SmartBCH fixes this. It is a reliable and secure solution to Ethereum's rising fees and slow scaling developments. SmartBCH presents a unique case for the global adoption of smart contract networks. It is the "Metaverse-ready" solution to Ethereum.

BTC Has a Different Approach: Speculation and Price Addiction

A global casino. This is what BTC has become.

The approach of BTC is the adoption for speculation reasons. All the rest discussions about Bitcoin are deceiving messages and used simply because it takes months or years for any newcomer to discover the truth.

The value of cryptocurrencies is represented in fiat terms. Some exchanges tied cryptocurrency valuation to BTC and until 2017, they only offered BTC trading pairs. The USD pairs for the rest of cryptocurrencies slowly started appearing in 2017, as demand for cryptocurrencies such as Ethereum, Bitcoin Cash, Litecoin, Dash, and more, was rising.

The trading algorithms (trading-bots) didn't change though and remained locked to boost the price of BTC against the price of the rest of cryptocurrencies.

This is one side of the crypto manipulation techniques, the other part is when the same bots interact with future contracts and leverage naked shorting, without the underlying assets in the trader's possession.

Trading of BTC expanded beyond the crypto markets and into Wall Street, with CME futures and ETFs exceeding expectations in 2020 and 2021. BTC reached a 1 trillion market cap because of a massive speculative rally of Wall Street investors.

Maybe the BTC maximalists are dreaming of Bitcoin (BTC) becoming the world’s reserve currency and everything measured in BTC-sats instead of USD. Although, this is not a feasible target for BTC. USD derives its strength from being a means of exchange and is backed by the top economy and military in the world after WWII.

A Realistic Evaluation

Bitcoin Cash valuation in USD will reach new ATH simply because it is relentlessly developing a robust network and developers build on top of it useful applications and sidechains. User adoption is increasing, BCH builds it and users come. It retains a big percentage of those testing it and surprisingly to the BTC maximalists, the move is always from BTC to BCH, not the other way around.

What the trading "analysts" call a bear market, is only an opportunity to build. This is what Ethereum did in 2017-2018, with devs creating some of the most useful applications for modern finance.

BTC all this time developed nothing. Some upgrades that make no difference such as "Taproot". In terms of development, Bitcoin is dead since 2011. Economists that call Bitcoin (BTC) a Ponzi are not wrong, since the structure it offers today is no different. BTC does not help anyone with payments, which was the reason it was created anyway. BTC is not Bitcoin in this sense either, but just a network hyped and promoted by veteran traders and sell-out influencers unlike anything in the past.

Bitcoin Cash has proven it is not just words or narratives but managed achievements most other networks won't ever reach.

The correct approach by news and tech outlets would be to stop promoting a roulette table as Bitcoin (BTC) and start promoting the technology and utility of cryptocurrencies instead.

Bitcoin Cash has significance in the crypto market, and its utility is above other cryptocurrencies. No other decentralized network can reach the same network capacity and efficiency Bitcoin Cash accomplishes.

The price will follow developments, the increase of userbase and network effect.

Cover Photo: by Manuel Lopez on Unsplash (modified)

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