What is going on with BitcoinCash!!

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Avatar for nomadghada
2 years ago

Warning: This is less of an article and more ramblings of a lunatic

What the hell is this?

BitcoinCash has reached $217.55

Why?

I can't comprehend what is going on here?

I am genuinely asking what is happening in the market right now?

After all the positive news around BitcoinCash

BitcoinCash has been in the news lately in a positive way with St Maarten and everything including the adoption in the Caribbean

BCH a year ago

Today is May 11th 2022 and the price of BCH is USD 217.55

A year ago on May 11th 2021 the price was USD 1,542.43

I just simply can't comprehend this

That's an 85% downfall

Imagine if you had $100 and a year later it is reduced to $15

Obviously the market is crashing

Ok you you don't have to tell me that it is a trend right now across the market (both Crypto & Stock).

But comparing it to other assets that is quite a downfall.

Disclaimer: I still believe in BitcoinCash

I still believe in BitcoinCash and continue to hold, use and trade in BCH

But the depreciation in the price is stagering

If I wanted to pay for a flight ticket, say through Travala, then I would have to shell out 7 times more BCH then I would have done a year ago.

This hinders adoption

For someone who may want to use BCH as a currency for payments this may hinder them from using it at such low rates.

Imagine that you brought BCH at $300 and you were going to spend it today, you may think otherwise since this would mean you wouldn't be able to buy the same things with BCH that you would have been able to when you actually brought BCH.

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Avatar for nomadghada
2 years ago

Comments

All the coins are in a dump. BTC is down and it affects all the coins. I do hope that it will be back again. Also, LUNA almost crashed at the very bottom.

$ 0.01
2 years ago

Luna I am worried about

$ 0.00
2 years ago

😂😂😂😂😂😂 Mysterious things are happening in the crypto world, everything is RED.

$ 0.01
2 years ago

Yeah, specially with LUNA and unfortunately I had just recently converted $10 worth of BCH into LUNA about a week ago.

$ 0.00
2 years ago