I've been hoping for BCH to make a stand while BTCUSD is decidedly bearish & heading for 9k if not lower. Today, we see that BCH has broken the channel (see linked post). There's a high chance that it'll fall deeper against BTC.
I still expect a small pump tomorrow. But I don't think this will make a difference. The shills for BTC have successfully convinced that market that BCH is just another fork.
It's looking very bearish now.
Komen
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Yesterday instead of selling all I shorted BTC to hedge => what a dumb idea! Should've shorted bch and bought btc -> that'd be a better hedge (but both are going down).
Komen
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Looks to be on track. 0.1 BTC a real possibility.
Komen
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Was a good decision to sell my bch. Hallelujah.
While it's better than bitcoin, it's not better than the dozen cheaper alternatives.
Bitcoincash seems to be gaining ground on Bitcoin in the big picture, and the trend is your friend. People were trashing it at $300 and now it is $2500. Everyday we see more and more people complaining about ridiculously high fees in Bitcoin and slow or no transactions. I hope lightning works at scale but if it doesn't Bitcoin core and Blockstream have put all there eggs in one basket. Seems very risky and if Bitcoin does fail because of that it wilol be bad for all crypto
Doc-al-Citadel
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I used to own 60 of these glad i'm out...
DrJLT
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@qdoc, Yes, it's junk grade stuff. Transaction supposedly free, though. But nobody cares. The truth is the best investments are those <$10
Doc-al-Citadel
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@DrJLT, yes doc thanks and the bch community are bizarre. It's like a cult. I see this at 1k before it ever gets to 10k and tbh I can see it expiring in 2018.
DrJLT
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@qdoc, I'm not this pessimistic about it, but price-wise it's non-performing. I have a feeling we may see three digits in the next few months, though it depends on bitcoin's performance (which I expect to be poor). I'm moving to penny stocks :D
@DrJLT, they talk about micropayments etc. For my 60 bch which I sold early I now hold 200 btg and lots of trade money plus some fiat back in my accounts to pay the bills. Lots of the bchers are hodling for 7 figures allegedly!!! I bought 13 million mooncoin at the weekend and its almost doubled. I had a million doge now sold before it pretty much doubled. All because I freed up my bch money waiting for the cashening. Cashening not in the script i don't believe. It's ether, stupid (not u, doc).
Doc-al-Citadel
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@qdoc, oh yeah what i means to say a micropenny coin like moon can handle micropayments
DrJLT
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@qdoc, Yes, I also hold it for too long (almost two months now & it's gone up only 3x when the market has seen the craziest moves).