The Bitcoin dominance is weakening. We are in a point of big changes that will become real soon and the cryptocurrencies that deserve to be noticed by the public will become the new high tech investments for this century.
There isn't only Bitcoin in this market. Bitcoin is looking almost ancient technology with just three transactions per second capacity. The current bitcoin community is not developing in fear that changes will not be met well by the investors. They do not want a digital currency that scales, it is decided that it will be store of value without anything else.
They think that each Bitcoin is a work of art, but is it? I see no utility in Bitcoin as a store of value with the fees as they stand. As all the rest, we signed up for a revolution in currencies and what we see with Bitcoin and Ethereum is a revolution of making the miners filthy rich.
This has been dragging on for too long and I am going to hold only investments that have potential, only investments that are able to create value for millions or even billions of people, and this is not Bitcoin. Bitcoin is a toy for the hedge funds today, they can pump it and crash it down to zero if they want to. It doesn't matter to them and it doesn't matter if it has a trillion dollars market cap.
In the end of the day, Bitcoin will crash again, the tens of thousands of promoters from social media and youtube will once again disappear, only to come back in the next crypto revival.
The current euphoric state will not last and we all know this. But for what it is worth, I will always hold some Bitcoin Cash. I profited from this market, not so much as others, but as much I could. I do not see a reason to try to invest today where speculation is at the roof and extreme greed taken over rational investing.
I will feel sad that Bitcoin Cash will have to follow the market trend, because it deserves a better fate than most of the rest crypto. But, this is the market, and investing has to exclude emotions. I will keep holding BCH for many reasons.
The main reason I will keep holding BCH even in a bear market, is that I am going to use it. I won't be using Ethereum, Bitcoin or anything else. I will be travelling and I will be paying with Bitcoin Cash the merchants that accept it.
In a spectulative mania it is not easy to know which projects are real and which scams. There are once again many cryptos that don't seem to have a purpose, howerer have reached valuation of many billions. More than a hundred cryptos are worth more than a billion dollars.
The fair value of this market is close to $500 billion and probably even less. The market will enter a correction after it first stops being supported. For the time being Tether is printing, and USDT is accepted being at 1:1 to the dollar. Is this going to last and how long can Tether keep increasing the USDT in circulation is unknown. What is known to all is that Tether will be the reason for the next Bitcoin crash and bear market.
Bitcoin Cash is a long term investment. My plan is to keep buying without thinking about the price. Since I am going to use Bitcoin Cash, spend it and try to use and promote it instead of using fiat.
