I was looking at a 3 hour chart of Bitcoin Cash since it began in August.
Around the 13th of August, it began consolidating at around $200. Then it shot upwards to around $1000 within 3 days. People began taking their profits and the rest followed suit. The result is a downward decline. By October 11, it began stabilizing. It then began a formation known in technical analysis as a 'sauce pan'. It is a trigger to buy. That's when I remembered. I've seen this chart two years ago.
I flicked through another market, BTC/USD, zoomed out to look at the daily charts and I saw it...
The resemblance is uncanny. It began its upward trajectory at around $150, shot up to $1200 and slowly drifted back down to $200. It is amazing to see the similarities between the two events. This to me, shows the psychology of people. The moments when they are optimistic and the moments when they became fearful and panicked.
I see a lot of comments online about people who, for multiple possible reasons, attack Bitcoin Cash. The obvious reason is that they are invested in Bitcoin and they see Bitcoin Cash as a competitor to their investment. So they go to articles and posts related to Bitcoin Cash and write things like, "Bitcoin Trash!" or "Bitcoin Cash is literal garbage". I've seen many who refer to the declining price of Bitcoin Cash to supposedly prove that it is a failed project. They actually do not know that Bitcoin went through a similar phase.
Here is an image of both charts. There's no permission necessary if you want to share it online.