 |
It took me a while to figure this out and the turning point for me was when LTC's market-cap became greater than BCH's in the 2020 /2021 bull-run. 'This doesn't make any sense' I thought to myself . How does LTC with its lesser ongoing development have a market-cap that surpasses Bitcoin cash's ?Especially as Bitcoin cash has so many positive features , This had me searching for explanations. ......and then it dawned on me .. You see when BCH came out in 2017 it was distributed to BTC holders. A lot of the BCH tokens were also not yet in existence as they had yet to be mined; meaning that the BCH tokens available on the open market were in short supply then and still are today. As a long term trader and a practitioner of the Wyckoff Method I understand that in order to move an asset from weak hands to institutional hands you have to capitulate the assets price and keep its price action stagnant for a lengthy duration . These techniques force weak holders to release their tokens onto the open market for sale . This is what I believe is going on currently with BCH and the BCH being released is being accumulated OTC by institutional buyers and crypto whales. Accumulation via OTC also ensures that the market-cap and price of the asset does not rise until its ready to be moved up and this process is called "Mark up". Supporting this thought is the chart pattern below which is a multi year accumulation pattern Another important point is most traders not do thorough research on the tokens they purchase and rather follow the crowd and buy on Hype . Institutions and Crypto whales are well aware of this and influence our purchasing decisions by moving the price of the cryptos they want purchased up, and publishing supportive media articles . For example if token XYC moves up 500% in a few months versus BCH which moves up 20% in the same time period and there are glossy articles proclaiming XYC to be a wonderful token most buyers will seek out token XYC. Now throw in a few negative articles regarding BCH and the weak hands will release it onto the open market and gladfully exchange it for token XYC. This is an example of "herd mentality" and the videos below give an example of this phenomenon, https://www.youtube.com/watch?v=_7VEWTbe5lU https://www.youtube.com/watch?v=TrTk6DsEJ2Q Now I could be seriously wrong here and I am not your financial advisor , but I trust my conviction and currently most of my tokens have been switched to Bitcoin Cash. My wife is accumulating Bitcoin cash; My family , acquaintances and neighbors are accumulating Bitcoin Cash. In my opinion Bitcoin Cash is the most undervalued crypto in the top 100 crypto market and is a steal at these prices. The All Time High for Bitcoin cash is at $4000 and BCH is currently trading at 700% below that price at $480. This is a life changing price point so HODL the BCH and dont fall for the crap talk in regards to Bitcoin Cash - You are being lied to . [link] [comments] |
source https://www.reddit.com/r/btc/comments/ltcw8o/bitcoin_cash_you_are_being_lied_to/
No comments:
Post a Comment