Just a reminder: The initial adoption of an asset lowers the price.

in bitcoincash •  4 months ago

I keep seeing people (mostly trolls) use the price of bitcoin cash as a way of attacking it. The price going down could actually be a good thing in the short term. This happened to bitcoin back in 2015 when the price fell to below $200. Why? Well there were many reasons but a big one was merchant adoption. People could finally spend their coins and many did. Of course smart people spent and replaced but people with a lot of what they saw as "free money" used it. This drove the price down.

Now I see the same thing happening with bitcoin cash. The price is going down a bit compared to other coins. Merchant adoption is exploding and people are spending. Many probably still see it as "free money" from the chain split so they are spending and not replacing. Once more people start to see it's usefulness the price will stabilize then start to increase. Simple economics. Once there is more demand for a fixed supply the price will increase. It's only a matter of time. The difference this time is there is no 1meg cap to stifle the adoption.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!