Bitcoin Cash / BCH - A Dark Horse During Crypto MeltdownAfter that whole BCH Satoshi's Vision debacle, there is no longer any primordial Bitcoin remaining. BCH was once something to put some stock in, as it really did embody the original meaning of "Peer-to-Peer Electronic Cash" as defined in the original whitepaper.
But like all things in this chaotic world, it was ruined and undermined. Fundamentally, the problem is people's hearts and people's morality. Nobody made the entire community go along with ghosts. People chose to do that, rather than uphold what is righteous, because inside, they aren't good, and they align with evil.
The same can be said for the recent commencement of censorship on the Ethereum protocol. You all want to be a part of globalism, aka communism, and so one will have to eat the bitter fruit they sow for themselves come harvest.
You shouldn't have faith in digital currencies, because they're all set to be eliminated. Whether mankind returns to tradition in this life and real money returns or not, the reality is, central bank digital currencies are on their way, and they won't be built using BTC or Ethereum. They will be proprietary, government-controlled networks, just like SWIFT.
Regardless, BCH trades like wet paper towel, because after being gutted, it's just another trashcoin. Except it's a trashcoin that never pump and dumps. It's slow, heavy, dull, clumsy. While Ethereum is running wild, BCH is there, well, sideways. If you hold your breath for a few days you can make 5%, sometimes.
But notable is that BCH opened 2022 around $430.55 and spent two days above the opening price before cratering completely, and all these months of bear market, BCH hasn't printed a single bull trap/bear wrecker wick upwards.
Frankly, I think there's a high probability that BCH just turns around and dies back towards the all time lows of $73. In the end, BCH will trade for like $6, and that day isn't very far away.
But before we go on a suicide mission to sub-$50 and then sub-$10, the market makers will need to sell some bags at very high prices to people who think numbers like $1,400 and $4,000 will ever return to this thing that was created simply so the Chinese Communist Party-linked mining networks could print something out of thin air that would be useful for laundering USD fiat through South Korea's exchanges.
At present, what I see is that the BCHBTC pair made an all time low in July, bounced, broke a June high, and has since shown some strength and consolidation instead of acting like it wants to head for even lower prices.
In terms of BCHBTC, there is unfinished business way up at a 400% run over 0.02, but a more realistic gundown target composed of the November and December 0.01~ double top.
I would expect that if the BCHBTC pair goes on a 2x or a 4x run, it'll happen while BTC is on its way to $15,000, a call I made in July that has proven rather accurate so far:
Bitcoin - An Unimpressive Climax
And while Ethereum is headed back to three digits, all of which I expect to happen, and quickly, in the next week:
Ethereum - The Hard Reality
Thusly, although I would really like to see BCH make a mess of things and go for a run at $400, the multiplication on what the BCHBTC pair can do and the price of BTC means that BCH is likely to have a far more impotent run North, which actually makes a lot of sense, considering what a ball and chain this thing trades like.
Anyways, I suspect that BCH will dump more in terms of USD, into the $105 range and set up a bear trap. It may even wick $99 or $98 again, but if it's going to be bullish, it should not break the July lows.
Don't get caught in the trap, and stop putting your faith in crypto. If you want to find out what will happen to crypto exchanges in the future, acquaint yourself with what happened to Full Tilt Poker and Pokerstars in 2011.
The Federal Reserve's FOMC minutes have addressed "stablecoins" more than once. This industry is on the government's radar, and enforcement is coming very, very soon, because proper CBDCs need to be ushered in.
