We Witnessed The 4th Bcash Pump & Dump - Dump Phase Has Started - Don’t Be The Last Seller!

in bitcoincash •  last year 

When you take a look at the Bcash price chart you will see the very unnatural patterns, clearly caused by manipulation. In the history of Bcash there are 4 of these pump and dump spikes, and the 4th is now underway. In the beginning of the 4th pump about a month ago I wrote THIS and THIS article where I expressed my suspicion about the surging BCH price and said that it was purely based on manipulation. It looks like I was right and that the dump phase has started.

bitcoin cash manipulation.png
The previous three pump and dump events

Bcash pump and dump.png
I wrote this when the 4th pump started

What happened with Bcash?

The Bcash pump started exactly when the overall market sentiment for cryptocurrency turned positive. The plan was probably to lead the newly incoming money into Bcash by creating the narrative that it is the best crypto. It started with Antpool burning Bcash, CNBC shilling for Bcash exactly before the strong surge and Roger Ver becoming very active on (social) media, even on Steemit.

Also the hard fork was hyped up while it actually wasn’t so positive. Also Bitcoin .com listed BCH as Bitcoin and BTC as Bitcoin Core, to suggest that Bcash is the real Bitcoin and BTC is an alt coin. I can’t prove it but there is a high probability that rich Bcash proponents were boosting the pump by dumping BTC and buying BCH, as was the case in all the previous pump and dumps.

The certain outcome of manipulation

The effect of manipulation is always temporary, it is almost impossible to maintain. The more the asset becomes overvalued the more costly it is to maintain the high price and the market will become immune to hype and lies over time. More and more people start to know that the promotion of Bcash as the real Bitcoin is a scam.

Keeping the manipulation up is like holding a beach ball under water. The deeper the ball goes, the stronger the opposite power and the more force is needed to maintain the status quo. As I described HERE, Bcash is heavily overvalued when you consider the fundamentals, the price is solely inflated by manipulation and lies to newbies and the uninformed.

I think the 4th pump is over and the dump phase has started

Like the previous 3 pumps, this pump will come down too and it looks like it is happening already. There are many reasons to suggest so, not only the falling price. Here are some signs:

The hard fork was a flop

I think one of the most important drivers of the pump was the upcoming hard fork that took place last week. This hard fork was unnecessary, highly increased risk and kicked 20% of the full nodes off the network (READ MORE). Furtermore, it was extremely quiet about the fork after it took place, it didn’t turn out to be a very bullish event at all. The hype for this hard fork has clearly ran out of steam.

Transactions are back to pre-pump level

In the last month transactions on the Bcash network increased with the price. After the hard fork the actual block size is back to 50KB per block, the same level as before the pump. This is less than 0.16% of the capacity after the fork! In the mean time the actual block size of BTC is growing, and about 70% of the capacity is used.

Bcash blocks.png
As you can see: BTC transactions are increasing and BCH transactions decreasing

Price looks very bearish

Also the price looks very bearish in BTC and USD as well. The neckline is broken downwards and it looks like a further dump is imminent. As you can see: In the last three pump and dump events the peak price was lower every time. More and more people are finding out that the Bcash proponents are a bunch of scammers and there lies have less influence on the market every time.

Bcash price.png
Doesn't look good for Bcash

Pump attempt not effective anymore

I saw this during the previous pump and dumps too, and it is very obvious. A recent Bcash pump attempt by CNBC and the Bcash shill party in Hong Kong didn't influence the market at all. Every time events like this are very effective during the pump, but ineffective during the dump.

Conclusion:

It is very likely that the price will sink under 0.1 BTC again, waiting for the next pump and dump to happen (if it ever happens). When you bought because of FOMO in the last month you will probably lose eventually if you didn’t sell already or very soon before bigger drops occur. When you lose on this trade, you just funded the pockets of scammers like Roger Ver and Craig Wright. Congratulations!

Disclaimer
This is no financial advice, just my view on the market.

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we are going down

Another way to think of it is a more volatile bitcoin. In a bull market it leads In a bear market it lags. It doesn’t have exchange pairs, as many fiat gateways or wallets.

In the long run though it’s really the only coin that could feasibly surpass bitcoin in there core payments/ store of value space. I also like that it gives bitcoin some competition. This will make bitcoin much better. Ethereum is a completely different animal.

Bitcoin Cash could convince enough people worldwide of its dominance, thus gaining mindshare, brand recognition, and the legitimacy it needs to really fight for the Bitcoin name. This would result in a ‘flippening’ — which short term would throw all the new people into a state of utter confusion and lead to possible massive losses in value as new people flee or are otherwise discouraged from buying. Long term though — BCC will have won.

When you bought because of FOMO in the last month you will probably lose eventually if you didn’t sell already or very soon before bigger drops occur
I think those who have invested a little should sell it well those who have invested a lot should wait some time.
Upvoted and Resteemed

Buy the dip! Bitcoin cash long term is one of the best investments. I would not underestimate BCH.

It's all pump and dump. Name of the game buy and sell to the next sucker at a higher price. And a sucker is born every minute.

Hello. What to do to raise the likes on my posts?

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Sorry I just don't see 4 pumps maybe 3 pumps.

wow.... I have noticed it.... go go go

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  ·  last year Reveal Comment

yes I see it too, but on the acrir will keep on its own, this is good information @ michiel.

I went with my gut and sold before the network upgrade as I knew it was just overhyped bs as usual!

They're desperately trying to get people to use it yet twice as many transactions are happening on dodgecoin!

I see a bullish setup, provided $920 holds and $760 in the worst case. (can right click image and open in new tab for large view)

BCHUSD - Primary Analysis - May-24 1851 PM (6 hour).png