I know many say they don't care about the price. But they should. It's the leading indicator of adoption. Basically if the price isn't going up BCH will eventually die off.
I used to think so too. Now I think the market is dumb as a box of rocks, and way behind. It values the 'pyramid/greater fool availability' of a coin. For some coins, the pyramid is th
Maybe the market isn't dumb but just dictated by the size of each community. There really isn't a whole lot of institutional investors to help put cryptos in the proper order.
e main part of its value. A good long term investor needs to tease out what part of the value is down to the pyramid scheme, and what part is down to the technology. If the pyramid asp
ect is very large, it drowns out the technology aspect, and so the price, and price movements tell you very little about the health of a coin's technology and ecosystem.
BCH market ca
p looks small now because it is standing beside the huge BCH, XRP pyramids. But if you separated each market cap out into 'pyramid' and 'technology' components, BTC would be top of the
pyramid table, and BCH top of the technology table.
I think that as long as people are using BCH it will remain valuable. If a coin is stable and trades sideways for a while that's not necessarily a bad thing.
Initial adoption will push price down as people who didn't have a place to spend do so and those merchants convert to fiat. Need a full BCH economy to change that.
I do care about the price, as it affects public perception. I don't view it as a measure of adoption when the market is so manipulated though, and I really don't care about short-term
dips since it often just equates to more hype during the next pump. People don't make fun of Ethereum for how cheap it was before 2017, they talk about the percentage gains holders saw
. Plus it's usually after sustained spikes, so I just view it as an opportunity to replace the coins I spent during the last bull run. We'll have to deal with volatility until we're bi
gger than the dollar, unfortunately.
