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Bitcoin Cash: When Bottom?

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Avatar for bchzho
Written by   5
2 months ago (Last updated: 2 weeks ago)
Topics: Bitcoin Cash

I love Bitcoin Cash, but the price declined a lot and it really makes us all wonder where the bottom in the market is?

I can't say with accuracy where this thing goes. I don't know why but Bitcoin Cash is down so much or other coins with less to show, less community but with ties to the Bitcoin (BTC) people are doing better.

Litecoin has nothing to show. Bitcoin Cash is having all this movement to adoption and tries to increase the network usage, but fails in a sense to stabilize the price or at least create some bounces. Bitcoin Cash is making important developments. Litecoin still discusses Mimblewimble, sigh...

Bitcoin Cash has a problem and I'm sorry to tell you this because I understand this community wants Bitcoin Cash to be money as I do too, but exactly right now it needs investors.

It has a price that without anyone buying or selling will just follow what the price of BTC, only always lower and lower.

Who sells Bitcoin Cash?

Did Jihan sell his BCH and for what reason? Jihan supports Bitcoin Cash and mined for one decade Bitcoin. He knows when to sell part of his Bitcoin, he wouldn't sell now.

Are any more whales selling and why should they? No, they are not, but when looking at the top wallets they only keep buying.

Maybe these are the exchanges that buy Bitcoin Cash and other cryptocurrencies for profit, buying the low price and they sell later as price keeps going up, but if so, these are not the investors we want.

Bitcoin Cash needs more active fans too. Way more, like thousands more that will be active every day in Twitter, Reddit. I hate to say this too, but Bitcoin Cash needs strong hands, not paper ones that will not care.

Has it found many of these yet? It needs about a thousand more that will consider it their duty to support Bitcoin Cash, and be a positive influence to others either in social media, or in their real life too.

How to find these guys? I don't know. Perhaps directly explain they will be rewarded and have more Bitcoin Cash if they are commited to Bitcoin Cash. I don't know how anyone can be comitted, but I can see those who are not. It is shame when many are just waiting for airdrops or big tips and looking at this blog but only just very few become dedicated to Bitcoin Cash.

Noise.cash is different. It creates transactions on chain and I'd like to see it like that again. I recommend returning to a previous system prior to the summing up to increase network activity. Maybe this can be accomplished by making mandator 5 cents as the lowest transaction, but I may miss some details with it.

Also, some flipstarters don't deliver and there a few I don't understand why we need them. I learned one day about a guy building his home with Bitcoin Cash. I checked his background, ok, it was a guy that used Publish0x previously certainly not too experienced with crypto but how this helps? Why building a house for someone in Africa helps Bitcoin Cash? Perhaps more will join with the same ambitions.

Are we going to build a house to everyone that asks for Bitcoin Cash?

A guy from Venezuela was scamming by claiming he was helping poor dogs. Certainly a scammer since he disappeared some days ago after just asked questions.

We have another guy creating a farm. I'm going to trust the community and the people that backed this guy, but I don't know how it helps.

Then we had that cringe Bond guy, that failed to deliver what he was paid for, and keeps coming back trying to test how he did.

We need infrastructure so developers that delivered for years can be trusted.

SmartBCH also needs support. Without a doubt it will certainly need to attract more investors.

Although, I know some investors that were not so excited to keep their investment at $1600 price of BCH, I am still very qurious why they didn't buy again some BCH when price dropped, or why they did not buy now and support a better price.

These are reoccuring Bitcoin Cash investors, and the community probably wants them since any investors are good investors, but it will be better to find loyal investors instead.

I don't want to name any but there are some that will be back in a year probably as I understood from what they tried to say. Those that sold one year ago. Exactly one year ago.

But until then what? Price of BCH will keep dropping until the same investors come back and buy for one year? I think Bitcoin Cash has to change this, otherwise it will only have a few pump and dumps.

And those bought at $500 or even $300 will be in pain?

Bitcoin Cash needs at least three or four big names that could make a difference. Names as Mark Cuban.

Some investors that can become iconic to Bitcoin Cash and reach the level of evangelists Roger Ver and Marc De Mesel. These guys attract investors.

It can be funds too, I don't like it either, but you can make suggestions then. Find a solution, because I'd hate it if everyone starts realizing that price actually matters and Bitcoin Cash should not go any lower.

What is your lowest level if you think price doesn't matter?

It is a decentralized permissionless network, of course, so nothing can be done centralized with an authority governing, yet, a lot can be done if there is will.

I'm bleeding lately financially from all my investments and Bitcoin Cash was one of my hopes. Looking at the price I see today $200 it is devastating. I've even read messages that price should be ignored, and we need not to look, but you are missing a point then. What is the bottom?

How is the infrastructure going to keep working if price drops more? Flipstarters are cool and helping, how many BCH can you keep paying if price keeps going down?

Find some investors as soon as possible.

Use your connections. Ver apparently has ties to Cuban which is amazing for Bitcoin Cash. I hope to see more and real support from Cuban to Bitcoin Cash.

Some from this community should find time and together with Ver meet with investment funds. Adoption is cool, but we need to back the price too. The price matters and I don't want to expand more into what will follow if price drops.

A team with Roger, Kui, Jihan, a Bitcoin Cash developer fluent in English to explain the technical terms and developments, perhaps John Nieri too if he is interested, can convince influential teams, and funds, on anything about Bitcoin Cash. Perhaps we all hate to talk to funds but it needs more investors that will care for Bitcoin Cash.

Just a few more investors backing Bitcoin Cash will create better sentiment and help the price not reach a bottom nobody will want to find. The lower we go, the more difficult it will be to recover.

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$ 0.02
$ 0.02 from @JLoberiza
Avatar for bchzho
Written by   5
2 months ago (Last updated: 2 weeks ago)
Topics: Bitcoin Cash
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Comments

I have trust BCH will move to the sky more than 450$ in between next 3 months.

$ 0.00
2 months ago

I do hope the price is already at the bottom. Then there's no other way to go but up. I've been wondering how the new system of noise.cash affected the BCH in general. But I think the volume of daily transactions in BCH was greatly reduced when they started to allow the user to set the minimum payout. I have observed that some members set it to a high amount such as $10 and it takes them weeks to reach that. Previously, I have set mine to $2. Which I was able to achieve in 2-3 days. But when I became slightly inactive, I reduced it to $1. I wonder if, the members would set it to amount that they can achieve in less than a day will help increase the daily transaction volume? And the question is, will that, in effect, help improve the BCH price?

$ 0.00
2 months ago