The Irony of Bitcoin Cash's Rise - page 2.

TravelMug

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Quote from: GateioExchange on July 04, 2023, 07:41:59 AM

Bitcoin Cash was created to be the everyday man’s money for small purchases. It’s now ironically rising because large financial players are getting regulatory approval to trade it with clearing house custody for institutional trading only. Is it an ironic twist of fate for the coin that exists to defy and free mankind from the chains of the Federal Reserve, to rise off regulators approving it over it’s competitors?

https://www.youtube.com/watch?v=g8H1LCzPcWk

Nah, I don't think it has risen because many users are going to used it. It has risen because of pure pump and dump scheme, simply as that. Maybe you can hear good news recently, but it didn't stick then the price will just go down.

Remember that it's last all time high is not on the last bull run, but way back 2017.

And up to now they are down -93%++ from it's last all time high. So not sure if you can categorically call that rising price.

As compare to BTC = last all time high 2021, and only down -55%.

Blitzboy

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Indeed, Bitcoin Cash, a cryptocurrency designed for the public, is now the darling of large financial institutions due to regulatory sanction.

I would contend, however, that this is not inherently a violation of its intended purpose. Ultimately, isnt the primary objective of any cryptocurrency to achieve widespread adoption and usage? If institutional investors begin trading Bitcoin Cash, this could result in increased liquidity, greater stability, and perhaps a rise in its use for everyday transactions.

While it is true that the ethos of cryptocurrencies is to challenge the central banking system, we must keep in mind that these financial institutions still exert considerable sway over the economy. The fact that their advent into the world of cryptocurrencies can cause such market fluctuations speaks volumes about their significance.

dothebeats

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I don't think it's because of the regulations and whatnot revolving around regulations on trading cryptocurrencies. BCH is known to pump on occasions that bitcoin itself is receiving some positive price action. Well, almost all alts does some positive price movement whenever bitcoin does so it's not really surprising anymore. Plus, given how limited the usage for BCH is and how little the actual market is aside from traders and hopefuls, why would it benefit from the regulatory green light? It just doesn't make sense.

Bitcoin_Arena

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Look who is back shilling shitcoins. We know your mission in this forum

I am glad I don't use Gateio.

Bitcoincash is a dying shitcoin. I am quite surprised by how easily excitable some of you folks are with just a small rise in price which most of us know is just a pump and dump

blockman

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Come on, a rise? How come? I do understand that it has pumped from $100 to $277 now and $300 a few days ago. But look at how much it was before during its fork and from today's price. It's no longer a thing these days that they're still thinking they're the actual bitcoin.
How can it be if the name itself has some added word for its own convenience because the real bitcoin is the real bitcoin? A few hundred bucks of increase don't mean an actual rise from where it has been.

o48o

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Quote from: Nwada001 on July 04, 2023, 02:23:34 PM

Bitcoin Cash—why do they even choose the name Bitcoin Cash, if I may ask?

Well, I have come across many news stories regarding its features, how the EDX has made a great impact on it, the price pump, and some bloggers even asking if it's too late for one to purchase the token, and all of that. Well, the price pump is just a typical example of what happens to projects that have a little solid backing from some power institution, with or without any good use case. You will see them doing just fine, but let us not be overwhelmed, for this is crypto. We never can tell which agreement the Bitcoin Cash team has with that of EDX, although the positive price impact was not just on Bitcoin Cash alone; it was on a few other altcoins out there.

Newbies and investors should just be careful when making their investment choices, especially on projects like Bitcoin Cash, which just did a 100%+ in the last few weeks. Price might dump a little bit in order to correct that fast movement.

Well they probably wanted to take Bitcoin but it was taken. And because they want to see it as usable as "cash". "Blocksize war" when the fork happened was confusing as hell to me when i was stuggling to understand both sides, and lacked the technical understanding how the code works. And for the while both parties wanted to be the Bitcoin. I wonder how that looked from the eyes of a newbie.

I didn't even know which side to pick. But the spokesmen for the Bitcoin Cash were so annoying i quickly went for Bitcoin's camp.

Nwada001

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Bitcoin Cash—why do they even choose the name Bitcoin Cash, if I may ask?

Well, I have come across many news stories regarding its features, how the EDX has made a great impact on it, the price pump, and some bloggers even asking if it's too late for one to purchase the token, and all of that. Well, the price pump is just a typical example of what happens to projects that have a little solid backing from some power institution, with or without any good use case. You will see them doing just fine, but let us not be overwhelmed, for this is crypto. We never can tell which agreement the Bitcoin Cash team has with that of EDX, although the positive price impact was not just on Bitcoin Cash alone; it was on a few other altcoins out there.

Newbies and investors should just be careful when making their investment choices, especially on projects like Bitcoin Cash, which just did a 100%+ in the last few weeks. Price might dump a little bit in order to correct that fast movement.

vv181

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Bitcoin Cash is failed fork of Bitcoin and regulation clarity does not mainly drive the recent price surge.

Although backed by some big players, currently, the EDX exchange is a small exchange. Besides, Bitcoin Cash is not the only one that gets the green flag from the regulatory aspect. If you look at the market, the price increase is partly driven by Short Squeeze, in which traders who have short positions are forced to buy more BCH or get liquidated. Bitcoin and other cryptocurrencies that got listed are also perceived are safe from the regulator's perspective, BCH ain't the only one.

Doan9269

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Quote from: GateioExchange on July 04, 2023, 07:41:59 AM

Snipped

You need to know how to get used to the boards on this forum through your familiarity with them and it all begins with a step, take your time to read the forum's rules and know what's expected of you, each boards has their unique areas of discussion that best fit in them, read the forum's moderation policy and learn how to make a quality post, all this will help your journey in addition, kindly move your thread to altcoins discussion board.

Bitstar_coin

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Stop your cheap bch promotion coz as of now nobody cares about that shitcoin. incase you are not aware bch is no where near its previous ath and will never be because there are several other everyday man's money alternative in the market if you care to look well. And i highly doubt any responsible financial players would want to get involved with this coin. It is dead no need to chill it bro. Tongue

GateioExchange

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Bitcoin Cash was created to be the everyday man’s money for small purchases. It’s now ironically rising because large financial players are getting regulatory approval to trade it with clearing house custody for institutional trading only. Is it an ironic twist of fate for the coin that exists to defy and free mankind from the chains of the Federal Reserve, to rise off regulators approving it over it’s competitors?

https://www.youtube.com/watch?v=g8H1LCzPcWk

Topic: The Irony of Bitcoin Cash's Rise - page 2. (Read 201 times)