It Is Down But Not Dead

No, It Is Not Dead

If I were to receive one dollar each time someone declared that Bitcoin is "dead," I would have several hundred bucks, or to be more specific, $467, by now. Indeed, that is how many times Bitcoin had "died" since its inception.

Bitcoin, however, is still very much alive, contrary to popular belief. Bitcoin, the cryptocurrency that is considered to be the "grandfather" of all cryptos, has seen its price drop significantly over the past months, but the cryptocurrency is by no means dead.

And as was the case with Bitcoin, the value of Bitcoin Cash has dropped, but the cryptocurrency is still alive and kicking. Having said that, taking into consideration the current situation of the market, it is likely that it will be some time before Bitcoin Cash is able to rebound.

But the the more important question is, will Bitcoin Cash rebound from one of the greatest crashes in the history of cryptocurrencies?

To that question, I give a confident yes as my answer.

Certainly, like all other cryptocurrencies, Bitcoin Cash was significantly impacted by the multiple crises that the cryptocurrency market has experienced over the past months. However, in contrast to other cryptocurrencies, Bitcoin Cash was not only able to survive but even thrive despite the many challenges it faced over the years.

Bitcoin Cash, on the other hand, has proudly stood by Bitcoin's side despite the fact that many other cryptocurrencies, both new and old have not been able to withstand the test of time. This demonstrates that Bitcoin Cash is just as resilient as Bitcoin and that it will continue to thrive despite increasingly more severe crises.

Will Bitcoin Cash be able to make a comeback in the year 2023?

The current status of the market makes it difficult to predict that the year 2023 will be Bitcoin Cash's year to recover, but despite this fact, it is not completely out of the question. After all, the market is capable of seeing a fast recovery just as it was capable of experiencing a sudden drop in value.

Having said that, it is probable that the market will require an additional year before it is able to fully recover; hence, the ability to maintain patience is essential in order to survive the volatility of the cryptocurrency market.

Speaking of patience, a good number of us are probably reaching the end of our reserves, and to tell you the truth, no one is to blame if their reserves run out. For my part, I can attest to the fact that there have been countless occasions on which my patience has been tested to the limit. In spite of the fact that we are currently in the midst of a crypto-winter, the market does, thankfully, have periods in which participants can momentarily enjoy some relief and “recharge” their “patience gauge.”

Naturally, I'm referring to the times when the market has a temporary uptick in its performance. Even though these intervals were rather brief, they proved to be quite beneficial nonetheless.

The market will most likely experience more downs than ups in the coming days, but as long as one has patience and continues to believe in cryptocurrency, Bitcoin, and thus the cryptocurrency market, will not die, no matter how much cryptocurrency critics wish it would.

Anyway, that's all I've got for now. I hope that this article can inspire some of you who are beginning to have concerns about the state of the market. Thank you for taking the time to read this. I hope to see you all again soon.

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