I created this simple meme yesterday warning against selling BCH for fiat or BTC. Selling means losing hope. Of course, this is not about the trading aspect since traders don't really care for the long-term viability of a project.
In this meme, Robin is always the character that makes a horrible mistake infuriating Batman so much that he slaps Robin while trying to make him come to his senses.
Logic and knowledge suggest that $100 for Bitcoin Cash is too low to consider selling, even if someone is speculatively investing in Bitcoin Cash.
Basically, this is the time to buy, yet investors are usually following this mantra:
Buy high, sell low.
Smart means smart but is often used to lure the non-smart.
When they tell you smart money is buying and you see price ten times higher than a few months ago, you know this is not smart money, but probably an exit-liquidity is building.
Did anything change dramatically since 2021 when BCH was trading at $700 or even at $1700?
Did the fundamentals change?
Was the adoption of Bitcoin Cash reduced?
Was security compromised?
Did Bitcoin Cash lose its censorship-resistant features?
Were fees higher than 2021?
0-conf isn't working anymore?
No, no, no, and no.
It did everything better, instead. Bitcoin Cash is maintaining progress in developments, adoption, and userbase.
We observe progress and unity in the community.
Why would anyone sell their BCH now? Nobody is losing faith in the network.
If BCH is going to zero as all the "Robins" out there suggest, then I'm willing to hold and keep buying all the way down to zero.
One thing is certain. This is the price where the (real) smart money slowly buys.
Here is what the smart money is doing while you are considering selling at $100:
(source: Twitter)
It's not easy for investors to recognize the correct time to buy or sell, and we can never catch the bottom or sell right at the exact top.
Yet, there are some fundamentals we can't ignore. We place our bets not trying to find the exact bottom but a price that we consider cheap and unfair.
Now, those that are claiming crypto and projects that work flawlessly for years are going to zero are the same calling everyone to mortgage their house and buy Bitcoin (BTC) at $60k.
Memes explain things better, and it is not easy to create one to convey your message to the public. The meme has to present a situation perfectly with limited use of words.
The image should correspond to the message as well. In this case, the slap is not inducing violence but a wake-up call.
Just one year ago, everyone was thinking about why they didn't buy Bitcoin Cash at $100 when it was trading there in 2020 and earlier. Well, there you go, a second chance to put your money where your mouth is.
And we got people today thinking of selling at this price. The only sales I'd consider reasonable are trades. Those trades that are properly set to exploit an analysis pointing to a new sell-off in the crypto market (which I basically can't see in the chart right now, either).
If you are not considering rebuying but will only move fiat money to a bank, well, you should have done that last year, don't you think?
In a few years, you will be considered the lucky investor that bought Bitcoin Cash at $100.
Cover Photo by " gerart ", on Pixabay
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Absolutely right, just hold, hold & hold. It's whales game. Well, wishing a Good luck to everyone.
Absolutely agree
This is why crypto is not for those with a weak heart! I can bet who's selling at $100 will buy at $300 😆 🤣
Trading in spot is a great option. If you just sell a few weeks earlier, you will be able to buy back the double of your BCH. Holding is hard. In a few years, BTC has to be at even 100k for the BCH to recover 700 at least. Just look at the chart. Every single time BTC pump hard, BCH pump lower. Sad reality. I hope to be wrong :(
90-95% of traders end up losing money https://www.daytradetheworld.com/trading-blog/why-day-traders-lose-money/
If you have the chart open right now, look at BTC and BCH. Look at the fall and compare so you can see how the BCH falls much more. This makes it difficult to recover what was lost when BTC starts to rise again. At least the traders try, we are waiting for a miracle that hasn't happened for months (in my case) and years in yours. It's just statistics and looking at the graphs comparing.
What is the point? You didn't make one
That right now, we need BTC at $100k for BCH hits at least $700 again :(
Don't get me wrong, I still have BCH and I wish things would improve. But the reality is this one.
12-5-21 BTC $58 ---- BCH $1640
10-11-21 BTC $69k ---- BCH $700
I've written a series of articles about the market manipulation, Tether, the fractional reserves at Binance, the pausing of withdrawals when Binance and other exchanges don't possess the corresponding BCH that belong to its users, Celsius, BlockFi, and the shorts they put on BCH, which they back with lended BCH they dump on exchanges, and many more tactics the anti-BCH, BTC-maximalists use to suppress the price of BCH. Even Charlie Lee discovered last year out he could crash the price of BCH by selling Litecoin massively.
It is what I have been saying in my articles too, apart from us, the others hate BCH. This is fatal, because we need them to be able to climb.
No, what you are saying here is that trading will help you. It won't. Trading only helps the exchange you are trading at. Eventually you will lose a lot of money by trading. If you or I were expert traders making money from trading we would currently be trading and not writing about trading.
I make 2 BCH in trading in just 1 week. I pass from 5 BCH to 7 BCH. But still losing money, because of the hard dump of BCH. The other day, the BTC $19k and BCH $123. Now the BTC is more than $21 300 and BCH is still stuck at $116.
Inviting to sell now is also a strategy for the price to continue falling. However, these who invite to sell are the ones who are putting all their money in BCH because they know that right now it is at a perfect price. And you know what, I'm shopping now, but I've saved some money because I think in the next few days we'll have an even more attractive price. Be that as it may, we are in one of the best moments where the big investors rub their hands.
I will never ever do that. I will definitely be a Moron hahaha. Nice one, Pantera!
Why sell for $100 if you didn't sell when it was $1600? It's absurd.. I do spot trading and selling BCH..but I make sure to buy it back
Lots of holders are panicking right now due to dip of BCH, I hope that investors could use the opportunity to buy more BCH, for now I don't have that enough savings to buy more BCH but I'll try to hold the amount that I have.
Exactly, selling at lose is losing hope. I do sell but I back back to increase my holdings instead.
Natawa ako sa back back mo madam 😅
Great Article
Thanks, Jason!
Sincerely speaking, right now the BCH is really scary and we can't exactly blame the panic sellers. They are simply acting out their emotions like humans do in a bid to not lose more than they already have.
Meanwhile the smart ones consider it buying opportunity.
The major problem right now is that in the crypto space nothing is predictable. You can't know if this is the lowest low it will ever reach or if $50 still awaits. There are people in the crypto space that are still trying hard to make a living with the little they have hence losing as little as $50 or $20 is considered a lot to them due to their financial status. Hence their fear is justified.
Selling off right now is a very wrong move considering that whoever wants to should have done so at the $1500 or higher. Right now, it's a bad strategy but once again it takes a strong heart to not sell off BCH right now since not everyone will see the greater picture based on historic lows and highs.
I'll just keep holding especially now I just reached 1 BCH. 😆
Now the only chance that we have that to buy and hold , its 100$ today but after it will be in high price , now is the time to buy , not to sell , and i liked a lot the batman meme 😅