When Bitcoin Cash will take off
Since the launch of Bitcoin Cash, this is the worst phase for Bitcoin cash holders. I am accumulating Bitcoin Cash since mid of 2019. From that day global market begin to crash either its stock, forex, or crypto share value of all the assets decreased, and inflation peaked.
During all these crypto holders faced the LUNA scam, which was probably the biggest loss within two that I saw in my whole crypto experience. Russia Ukraine war also put some impact there. When all the asset value decreases how can a single coin like Bitcoin Cash pump into this strong sell zone? In which short traders feared losing and started panic selling and ultimately market capitalization began to decrease.
When the BTC price is at $40k I have $240 in my holding wallet. I accumulated this through noise cash and read cash in form of Bitcoin Cash and now can you believe I have only $90? Value against dollars although decreased by still my holding has the same numbers of BCH.
In the last 4 or 5, BCH's bottom price was $126 and I used to believe that Bitcoin Cash will not decrease its value at least not more than this. But then I also saw some major exceptions, BCH touched $86.5 support same as I was hoping for BTC $28k could be the last support of Bitcoin but recently I saw it on $15.7k.
This is the beauty of the crypto market, smart and experienced traders can gain huge through it but newbies can endure huge same time. That's crypto experts are used to saying learning is crucial.
Currently, Bitcoin Cash is trading at $115, this could go either way, as I read somewhere despite all this further recession could be possible. As recently FTX exchange hack devalued the crypto market cap further. I was listening to a Youtube video of Zaka Waqar a crypto influencer, who talked about Binance. He was saying that Binance exchange has also have a major holding in form of BNB same as FTX. And binance can face the same circumstances that happened to the FTX exchange. As you can imagine Binance is the world's largest exchange, crypto market can be affected badly.
I am not seeing any major gain in the top cryptocurrency in the world. In the last 6-months, all the major cryptocurrencies are trading in their bottom zone.
In the upcoming months what I believe Bitcoin's cash value will increase further against stablecoins. As BCH has already been on the bottom for many months. There should be s spike in the price of BCH to boost the confidence of the BCH community. If not a few months than then 2024 will be the year in which the global market will increase highly.
This is what I am talking about Bitcoin Cash BCH already spent s lot of time on the bottom this year. And Bitcoin Cash can take off anytime. Once the upward trend will start the $1k per BCH is not far away. Just for the right time, a little upward moment is enough to revert the whole trend.
The all-time-high value of BCH is 3200 and now you can see bch showing a value at $100 a much difference but let's need to see when this will reach at highest value again.