The BCH in a good form of its life, hope this is not a bull trap again?

Watching the crypto market chart today, I felt so impressed with especially our own #BCH is really an eye catching moment that requires that a lot of tongue would rumble in surprise especially on the part of all those who have refused to make the necessary investments when the price seem low.

At a huge price of $346 per #BCH as at the time of filling this report looks quite strange given the bearish period we have been made to endure across a very long period of time that ensured investments by investors proved very much of a difficult thing to do given the fears that it has reached its all time low which ensured that investments were not warranted given low prices that discouraged even the huge companies to invest in it.

This period can not be argued against being in a direct relationship with the former situation that marked a spring up of prices when the #BCH hit an all time high #ATH of $700 in September to further increase and boost confidence in the #BCH coin.

Situations remained same until during the time of the Chinese ban on all cryptos which came immediately after the sweet tweet by Elon musk about his company Tesla's interest in adopting the BCH as its main token for doing all forms of financial transactions and payments for goods and services, etc.

This situation however, raises the sub consciousness in many investors who dipped in their funds that indeed saw the BCH reach a total of $1700 per token if I'm right with my statistical calculations though.

The Chinese government ban effect.

We noticed a massive drop and dip in the prices of all the tokens given the announcement at the Chinese financial system not to recognize the crypto as part of their financial system.

This announcement did come as at a time when most companies have adopted these cryptos, especially the BTC and the BCH in China that warranted that all the companies were all forced to sell off their stakes in the BTC and BCH given the government of China's threat of a shutdown of all the companies and financial institutions dealing in them.

Most notably is the fact that even the world's number one most valuable coin holder, -the #BTC, Mr Nakamoto actually did come from China which ensured that reducing its influence in China and at the world stage becomes a rather easier tasks than the difficult ones.

The Bull Trap effect

This constant situations of losing a strong grip on our tokens made it possible that interests were lost and as such, investment was affected and hit by these strong influences of the government's total rejection and recognition of it as part of the financial system which as a result of fact could as well be well aligned with the bad actors influences that cannot be excused as being part of its slump during those crypto bum era.

What we noticed was a continued downward slope that indeed ensured that the BTC, the BCH and other cryptos of utmost importance were affected drastically.

The BCH was reduced from its amazing all time high price after the tweet by Elon musk of a $1,700 per token down to $700 per token in September 2021 and ever since that time till this period, it has always being in a constant struggle for a rise to the top again that is governed by many fluctuations noted mainly by a downward slope of price.

We were actually meant to endure this very harsh periods as many of the BCH holders were out of fear meant to sell off their stakes and reinvested them into another crypto of interest which would eventually go on to become a rather hunting ground for them rather than the real safe haven they'd expected before selling off their liquidities as all Cryptos reached the bearish run that is capitalized by low prices, lack of investments and fears that were deeply rooted in the minds of every crypto enthusiast.

Now the bounce is back to a bum as we are all eyes witnesses of this very period that seemed almost as similar as the previous years that marked we enjoyed such boom though were ended up with a lot of tears in our eyes as prices were meant to hit an all time low which discouraged investments so to say.

What actions did you take during this dip time?

As for me, I knew the dangers of these very slump given my researches overtime and as the case maybe, I never really waited to be hit on a second time of asking but to rather take an undue action in buying out some BCH tokens which I'm saving for a more reasonable price surge when selling would surely put enough money in my pocket, how wise I've been doing that!

What about you, what action did you take given this ugly period?

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