Did You Sell The BCH Bottom?
We can see the cryptocurrency price action is still connected to BTC but there are some changes that apply to BCH recently.
Usually BTC when it drops it suppresses other crypto and it begin a recovery solo afterwards, since it is supposed that some investors move into BTC from other crypto. This may be a different case today.
It was not the recent drop to very low price below $300 that helped BCH regain some positions in the market chart by market cap terms, but it was when prices start rising again that BCH gained some positions it previously lost.
It is too early to tell, but I think Bitcoin Cash has found some allies in 2021 that are creating grounds for Bitcoin Cash to reach back to the top again. Not quite the top of 2nd placement in market cap, but perhaps reach the top ten cryptocurrencies again.
There is smartBCH but there is also CoinFLEX. I find this exchange to be a prior reason for Bitcoin Cash rise in this market. New money is needed as miners still have to sell to pay for their electricity, rent, and every cost they have, but there is also a time for miners to sell.
Expecting a BCH rally that has no targets for selling. Once the investors begin buying BCH it will be non stop, neverending bullish line in the chart.
We can expect BCH to rise from here, perhaps until summer, and maybe in August we will have discovered the true price of BCH.
Certainly not $ 300 or $ 400. Even $ 5,000 will seem low when we explored fully the new dimension in the charts.
Be ready for this as many sold and kept selling where some whales have been accumulating. And know that nobody will care but you will be telling some stories next.
Which is the story you prefer to tell, that you were holding 5 or 10 BCH when price was $300 and sold because you didn't know it will be a lot higher?
You will understand your mistake way later. You will be one of those telling stories how you were holding one, five or even ten Bitcoin Cash but you could not hold as you had expenses, you didn't understand it, you didn't believe in crypto, and any other excuses.
You had expenses even without Bitcoin Cash, this was not the reason you had these expenses. You don't damage BCH by the way, there are buyers and the price at this level is getting bought by whales. I also have to thank everyone selling this low as it was a rare trading opportunity as well. I have now part of my BCH for a hold position long term, and part for trading and buying these incredible low opportunities.
Got to thank you for this, but I don't feel it is nice exploiting all of you without explaining the plan and how to make successful trades.
You sell your BCH cheap and will be later wondering what was this opportunity you had for life changing wealth and how you missed it. You are holding a winning lottery ticket and you are just selling your hopes this way.
Bitcoin Cash is a cryptocurrency you will not have to sell in a few years. Instead, wherever you live you will only watch people that never knew a thing about crypto, asking how to buy BCH. And you will be the guy that kept selling the bottom.
What is the stories you want to tell your children? How you found this read.cash site and you could make 1 BCH even perhaps in two months. And how you had such paper hands you could not hold such a promising investment.
Imagine the disappointment in you. The price of BCH in ten years can be $30,000 what is your plan now with price at $300?
There are a few factors you need to consider. There are BCH whales, but are not selling. They sell but not "dumping" at the bottom.
BCH has such dynamic and we have seen this twice in 2021. Anyway, be my guest, sell your BCH at $300 where buyers are waiting. I buy more BCH and ignore some that act against this investment, even if these are BCH community, devs, or whatever.
Have in mind that the price is not indicating success, but the lower it goes the less point BCH can prove. This is a twenty years investment following what Bitcoin did until 2014 for payments and will soon be accepted by top companies. Expect some surprises which price will follow immediately.
It's good to read your article since I was one of those who believed that bch moves the same as btc