Unless you own BCH' or BTC' it's been a painful ride the last week. I mean even the BTC' contender ETH' is getting beaten up. But why is BCH' making a run when the rest of the alt' blue chips are getting crushed? Well to me it's very simple!
1) I mentioned before BCH' is the real bitcoin that adheres to the white paper. I know there is debate about this, but this is my opinion and for good reasons. Segwit is not part of the original Satoshi white paper. BCH' is not forking every month. BCH' could reap the benefits from the lack of replay protection on the upcoming fork. Do you wonder everytime BTC' goes up BCH' follows? Well two reasons come to my mind. a. Larger holders are selling BTC' on the rallies and buying not ETH' but BCH. b. BCH' does not have segwit, and BTC' is just becoming a split for the powers that be to make more money. Segwit may have legal issues in civil issues as the signature is separated from each transaction and added to the end. Now I know many will argue this but Vermont has already passed a law that each transaction must be verified by a 3rd party, not block of transactions. For larger money transfers this could be an issue. Think of signing a contract on a house. Every page is signed by both parties. This is how BCH' works. With Segwit only the final page is signed. Now this is a parallel to aide in understanding but the principle is the same.
2) The market determines what the best coins are not you and your biased tendencies towards how you feel about a coin. I don't care if you like DASH' better. (I love dash for the record), the market is telling us something different, and I go with what the market says not parents that think their kid is the best player on the team. There is a reason the coach chose Johnny. He is better get over it. This is large investors buying here not the little guys. They know something we don't. After doing some research from a couple of weeks ago "coaches that gave me some insight" I posted why I was going long BCH at 300ish level and boy has that research paid off. I do not get emotional. Many of you trade and invest on emotions. The market has chosen the best in breed alt coin and it is BCH' Like it or not it's up 50% plus from 2 weeks ago. That's more than BTC' by the way!
So can you buy here? I do not see why not, at least an entry level position. We are definitely in the 3rd wave of the mid term cycle and that is where the money is made. Keep in mind NOTHING IS GUARANTEED SO DO YOUR OWN RESEARCH AS I HAVE. I'm adding here and on any pullback, but since we added at $300 we have some cushion to exit if things go ary.
You'll note how ETH' is performing during this market rotation. Ugly!!! Breaking through channels and resistance points like evil Knievel breaks bones. I added down here in the $285 area so I will wait for $230-$250 to add more. If you haven't added you can but again in small blocks and only if you believe as I do ethereum will be a coin for the future.
LTC Ok I'm not as sold but I do own it. B2x is in direct competition for this market. And B2x' has the name. LTC' has more head and shoulder patterns then Proctor and Gamble at a dandruff convention. But I still like the coin, they are organized, have market penetration and there is no infighting. But I added on the last dip to $38 so it needs to get to $34 or lower for me to add.
Regardless of your feelings towards BCH' it is obviously being scooped up when the others are getting crushed, and I don't mean just scooped up, I mean it's being bought and bought hard. You know like the line at walmart for the 64" sony tv that goes on sale black friday for $350. Yes that kinda bought up. So I'm buying and adding on any dip.
Thank you as always for reading and I look forward to seeing your comments and insights!!
Komen
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Hitting some resistance, maybe a pullback with BTC before it legs up again!
Not adhering to the original whitepaper is extending the 1 MB block size to 8 MB, making it more centralized in the process, so that fees can be manageable for another year or two. It's absolutely dependant on China for mining, making it even more centralized, so the last thing it can claim is to live up to Satoshi's original purpose of a decentralized currency. Saying Segwit isn't part of the original plan is like saying Volkswagen did not intend for the engine it released last year to be part of its vehicles when it was founded. BCH isn't forking every month because there is nothing to fork. All currencies tend to follow BTC for the best and for the worse because that's where liquidity comes from. If BTC were to crash so would BCH, a currency that does a disservice to the cryptocurrency market by pretending to be something it's not and damaging Bitcoin in the process. People like the idea that they can buy a bitcoin for $500. Sure, if I see a copy of an original Picasso I might want it on my living-room and it's going to cost a fraction of the price. It still isn't a Picasso and will never be. One thing it's an investment opportunity, another thing is saying the fundamentals are good because it would be convenient if they were.
goldbug1
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@SafeGamble, Good points and the reason to own both!!
SafeGamble
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@goldbug1, I would still buy it for a trade. I don't see much of a future for it, but I've been wrong before (I usually am, LOL).
KingoVikingo
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As soon as BCH gets the new software update, more peeps will mine it.
BCH is already more profitable than BTC.
Any extra gain in price from here on will make migration of miners over to BCH.
Coinbase will add BCH around Jan 1.Coinbase will give away the promised forked BCH.
If there are issues with BTC and B2x, we might just see a lot of new money coming to BCH.
goldbug1
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@KingoVikingo, I agree and we are getting a little pullback to add to the position
LXXe
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@KingoVikingo, @goldbug1 hello KINGO, would you mind sharing the source of this information (link, or even in words)? thanks much.
The reason BCH is skyrocketing is because allmost all miners from china are investing in it, while still mining btc. Wich means there is a good chance if the fork is going to cause trouble they will go mine BCH. If this happens there is a good chance people will follow and BCH will become the new bitcoin. Some exchanges said they will list the coin with the most computerpower as BTC. All of wich makes the potential of BCH huge.
Benjamix
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Damb you are emotional to read, lol ! Love your work and thanks heaps for sharing !!
goldbug1
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@Benjamix, Have a passion for the game!! thanks Benjamix
CryptoCyberpunk
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No dip :) 615 and looking strong! Can we see 720 soon?