What a wake up call. Disaster once again. I begin to think the MtGox crew is slowly receiving their crypto and begun the dump. But this is not yet what happened. In fact many of them will also grab a part in fiat, so perhaps only the most greedy and useless of them will dump.
It was a time Bitcoin Cash found new investors entering. As usual, Bitcoin BTC dropped significantly, and pushed BCH down. A pattern forming too often is the one when we see wigs in the charts. It is incredible how BCH becomes a punchball with exchanges breaking all rules and manipulating the price.
BCH would be more popular if it wasn't trading at Binance, Bitfinex and Kraken. These exchanges offer only a hostile environment that does not allow Bitcoin Cash price to rise. Maybe Bitstamp too, it is nothing but BTC maximalist exchange that has limited liquidity.
So the topic is this new dip, right about time when Bitcoin Cash was getting ready to make a big move. But what caused this dip?
Black Friday per Tradition
It is the same every year, it is a tradition for the crypto world to create dips and offer cryptocurrencies at a discount.
It is also another mechanism that helps the algos concentrate on buying the dip. Usually this dip signifies a strong bounce, so buying the Black Friday dip is important.
For those that live in a bubble and don't know what Black Friday is, this is a certain day each year on the last Friday of November, where shops offer some huge discounts on certain items, creating panic buying opportunities.
Did you see me in the crowd? I am also panic buying today with any fiat money I have left!
During this Black Friday morning I bought one brand new Bitcoin Cash!
Thanks to all the exchanges and the sellers for giving us a discount! Love you all as I increased my investment, and want to advice the rest of the world not to skip this discount but to Buy this Black Friday Crypto Dip too!
Buying Bitcoin Cash at cheap prices, right on the support line is not easy, but thank Binance for suppressing the price for so long and allowed many of us to reach a cool position of BCH.
Thanks to CZ and to all the buddies at Coinbase and Kraken for keeping BCH under the radar and helping us accumulate.
Although, besides the Black Friday reason, there is another one.
Popular in the US animated series, South Park in the most recent episode ridiculed Bitcoin and called it "fly-by-night Ponzi scheme."...
Now, any reasonable person will ask, what am I talking about. You don't know how much this series affects the USA public, there is a big part of the Americans that have Sourth Park as their source of information. They take punch lines and use them for years and will almost always agree with any side taken by the two creators of South Park.
South Park was used to create negative sentiment on Iraq since its beginning. Its massive appealed was used to create a feeling of insecurity towards Saddam Hussein dictatorship. In fact Saddam posed no threat at all to the USA, yet he was positioned very often in this animation, as possessing nuclear weapons while also being the representation of pure Evil. I mean he was evil, but no threat to the americans.
Another reason the US invasion of Iraq went on without any disagreement at all in the US, but major riots and protests around the rest of the civilized world.
Finally
One more punchline before I finish!
I am Stacking Green Sats!
You should also be doing the same if you want a way out of the ridiculous economic disaster we are heading into. Inflation is only one of the demons that wil surface from this difficult position governments are putting us in. We have nobody to help us, we are alone, us our families, some close friends and relatives we can trust, but please consider what I am about to write:
No Politician Will Help Anyone of Us.
When it gets difficult, you will realize it is too late. Keep a lot of your fiat money in Bitcoin Cash, you can always use it, well where it is accepted, but with time it will be everywhere. From all cryptocurrencies it is the best option instead of money.
Start stacking those green sats, any BCH satoshi counts. And don't sell, this is the bottom. Where do you expect it to go? There is no lower than here.
The Images I use are under the Creative Commons Licence with no citation needed.
Interesting