This is another interesting one... If you've lost patience wading through the Bitcoin Cash slog, then you've likely lost money: now may be the time to have your revenge.
After a flat B wave following a 5 step A, BCH hit lower and lower lows with a long and protracted C (still less than the loss of the sharp A) that beat nearly every HODL'er into captitulation. However, that count is clearly complete and we appear to be impulsing out of the bottom, currently finding support at the .618 line. This is a good sign, considering how much ground BCH has to make up from it's ATH, how much it likes to impulse higher, and how this looks like wave 3 to the next degree is queued up.
Still it's Bitcoin Cash, right? isn't there a possibility that it corrects even lower, perhaps putting in an extended bottom, what if BTC goes lower? Sure, but given this is just a wave 2 of a much larger scale set of impulses, given the bull wick below the .786 line, given the popularity of the "Cash" moniker, given the resurgent interest in cryptos following this correction; I've most certainly got some skin in the game, and will not panic when it corrects again around the .5 mark.
It is too bad, that this coin, like the lot of them, are currently following the Bitcoin pattern. It seems like this coin could be a good alternative, or Litecoin (making an effort, perhaps), or Monero, or Dash, or hello Verge (coming soon) or Lumen. Why people don't find a better Bitcoin when Bitcoin corrects, I'll never know. Too much fear, I guess.
Fighting the FUD,
Healthy trading and profitable investments,
The Freedom to Be
Legal Disclaimer: The information provided herein is for informational, or entertainment purposes only. I am not providing financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs, and only invest what you are willing to lose.
If you profit from this idea and would like to keep the charts coming, wallets are below:
BTC: 13mG7EsCBB3wK2pQnV4zXqXUXmnVtCbmS6
LTC: LTfKUD4g4zytwbLFsFCJyG6N55xu3mtZYJ
ETH: 0x800fe4a5a75af9034f4982c04bdd4b557dca0f3f
BCC/BCH: 1QmchfEizCkLLweNySkAJmBCJ6zEtfkBB
I agree with what you wrote. And I think that BCH will in time be good alternative for BTC. I also think people will lose the fear and the currencies mentioned above will gain more (and lose less at the time of corrections) in comparison to BTC, but I am also sure that it will be a long time if ever that they will surpass it. In a short term I think that BTC is to synonymous with crypto not to have profound impact on other altcoins.
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Yes, will need more market cap to stabilize and then individualize. Bitcoin may eventually lose market cap title to another, but as long as there is a XXX/BTC relationship, the granddaddy is here to stay. Thanks for the post!
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thanks for your opinion. I would be also be interested to know what do you think about my post:
https://steemit.com/cryptocurrency/@janci/the-future-of-crypto
if you have the time or will to check it out
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Replied and upvoted :)
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