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BCH will bounce back, fear not!

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Written by   82
1 year ago

Having survived some hard times especially as it was pronounced as the fork of the bitcoin itself which was never gonna do well in the decentralized finance of the crypto market especially as at a time it lacked some amount of recognition, what happened was that it did well by surviving all those moments of being looked down upon and disbelieve and was able to stand tall in the midst of too many cryptos out there.

It reached an all time high $800 and maintained that figure down to the latter part of october in the year 2021 though it happened at a time other cryptos increased so massively and also got to their all time highs as well.

The very unique thing about the BCH during such period is that it did very well, the 10X, the 30-50X, the 100X and many more which brought so much amount of joy in people's faces, that is as in the case of all those who had adopted it as their own crypto and a means of performing other serious and neccessary transactions so to say, including buying and selling.

The rate of increase was such an amazing one that it almost benched the binance that was almost on a constant pursuit of it which i feel was a fair competition given their relative importances as well especially, to all those who had adopted them as their only or main means of buying, selling and performing all neccessary forms of transactions that removes the middle or intermidiary bottle necks in mordern buisnesses.

However, this high price increase of the BCH that was constantly placed on a 13.7% - to a mouthwatering 48.67% in the last three months of the year of 2021 gave a lot of impetus for the embattled coin which has been able to survive the test of time as much as haven proved all its doubters wrong.

During those periods, a lot of us smiled down to the banks for some exchange of our BCH coins into some reasonable fiat given the coin's strong hold and command of a high value in the midst of the far too many competing cryptos that seem to have flooded the decentralized finance market but then, something happened that would for sure ho ahead and affected all cryptos in their totality and some of those unfortunate things that happened back then which eventually would affect all cryptos placement and positions are:

The activities and bad policies of some government of the world.

Here, we talk about the bad government policies as regards the cryptos and these negative policies saw to their ban as direct orders were given to have anyone trading or holding them arrested and be brought to book.

Moreover, at this time, many countries had caved in to the pressure and began placing a ban on the potential survival of the crypto of which China, one of the world's biggest economy and home to the world's number crypto currency, the bitcoin had ruled out its existence in China and then followed by the other countries of the world and heavy weights in the economic activities of the world too of which Nigeria become one the latest country to undermine the cryptos existence by dishing the same ruling against the favour of the crypto holders.

The activities of the bad actors.

No doubts, we live in a society that is controlled according to the order of importance and hence this is the case however, it became so obvious that these bad actors who are of course the financial institutions like the banks gave a 100% frown at the holding of the cryptos especially in an electronic wallet which will ensure that all forms of transactions would go on irrespective of the heavy amounts involved without having to pass through them which of course was a bad buisiness for them given no chargable commisions and stamp duties on every trabsactions done and as such, would lead them to inciting the government of the world into taking some actions and what they felt was a drastic measures in seeing to the banning of the cryptos.

Lack of an official or governmental control.

This is the second to the last reason why the crypto was affected so much as the government of the world feared that a time would come when all manners of transactions would be done within the economy without any form of direct or indirect control from them.

They also feared that riches would be acquired and as a result of all that, the society would be left in a total danger of being priced out politically especially with a little control of the made men who had adopted the cryptos with so much amount of money that would go ahead and multiply what was left in their hands, so the government decided it maintained a careful watch as regards the float of what that freely creeps into the economy under their watchful eyes where they represent and as a result, would see to its ban.

The festive period.

This is of course the last of them all and it is very natural of every nation and economy of the world to notice that as the festive periods approaches, a lot of monies are kept as idle monies that would be used to celebrate the xmas period or other festive periods in full.

This period is usually marked by a none investment plan given the proposed or projected spendings that have been planned in such festive periods like the Xmas and New year celebrations.

In this period, so many investors will hold back their money for anyform of investment and as a result of all that, would lead to a fall in the general price system given the simple law of demand and supply.

My advice

Haven gone through all those facts and figures that ensured or affected not just the BCH, but all the other cryptos, here then is My little advice for you all.

The crypto world is such a volatile world which implies that it can change at anytime, and given such implications, we could see changes everywhere and as a result of that, one is adviced to buy and holdl now that we are having a general price slump and then sell when prices touch the moon.

Take it or leave it, the BCH would break that resistance by touching a thousand dollars ($1000) and more this year 2022, that's for sure.

Image credit:unsplash.com

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Written by   82
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Comments

Of course it will.. keenly waiting for the summer to see it cross $1000 again

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1 year ago

I agree with you Sammy

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1 year ago