Bitcoin Cash up %50 in 24 hours, and Bitcoin starting to drop in price. According to CoinMarketCap
#BitcoinCash solves many of the problems #Bitcoin faces with fees, scaling and transaction speeds.
If you held onto #BCH after the last Bitcoin hard fork you are smart. If you didn't, well, this is exactly the kind of reason why I recommended holding onto it.
Now Segwit2X is not happening, Bitcoin actually has more problems ahead. So... it's totally plausible the miners will start shifting to Bitcoin Cash and stop mining Bitcoin quite so heavily and if that happens it will force Bitcoin into a corner.
This now depends on the market influences, and mining influences, and is of course impossible to predict.
Interesting times ahead again for the Cryptoworld.
with further news of it recently facing plans for CME Group to launch it onto the Stock Exchanges as Futures Derivatives this is essentially turning Bitcoin into a mainstream affair, finally. This event will no doubt influence the price further.
And if the newly arrived herd panic about #Bitcoin price dropping as it seems to be over the last 24 hours, expect them to start to rush for the exits, and if that happens the ensuing carnage will commence. As described in this post recently.
We very likely are about to see how the herd respond to a price drop.
There is no way Bitocoin cash will ever take over bitcoin. The service is fundamentally flawed. Yes, I'm aware its bitcoin with a twist and new rules. I do believe in bitcoin cash. But I think people are just interested into getting new Crypto and thats why Bitcoin cash is up. In fact all the alts are up. What people did is take the btc they initially bought to get the free BTG and reinvesting in alts
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"fundamentally flawed?" how so. that is just your opinion.
and why do you think it forked from bitcoin and yet didnt disappear like many other forks have, do you think all those buying it, mining it and using it, think it is flawed? It is the third largest market cap right now. It is hardly flawed if it is functioning that well.
I agree this is a move out of Bitcoin to alts, but BCH went up 50% that is a hell of a move to something that is "flawed" by those who would be leaving at this stage since the herd probably dont even know what Segwit2x was let alone that it is not happening.
none of the other alt coins did anything like that 50% move. So though your point is interesting, it is subjective really.
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