RE: Bitcoin (BTC) Mid-Day Update: Precisiont HIT of Downside Elliott Wave Targets!! THIS IS THE POWER OF TECHNICAL ANALYSIS!!!

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Bitcoin (BTC) Mid-Day Update: Precisiont HIT of Downside Elliott Wave Targets!! THIS IS THE POWER OF TECHNICAL ANALYSIS!!!

in bitcoin •  7 years ago 

Bitcoin isn't doing that well. Scaling has become a mess while BCH keep things cheap and fast. People look at a place to put their money on. ETH had a stupid wallet freeze(not the fault of ETH). Money goes into BCH which had recent gains. Creates a positive feedback spiral and the volume grows to a point it's almost 6 times the volume of ETH.

Since the fork I've been calling for $1000+ BCH before the end of the year and currently it looks like it could go over $1500

This might even grow to a point where Bitcoin's dominance over the market would diminish to some extent.

bitcoin
7 years ago by

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      ·  7 years ago 

    this has to be some kind of whale pump and dump ?

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        ·  7 years ago 

      Miners like bigger blocks. Users get served better with faster and cheaper blocks which also result in more merchant adoption. BTC hashpower has fallen over 60% in 2 days. All of that went to BCH. Think about the effects of that.
      https://fork.lol/pow/hashrate
      BCH is also the longest chain BTW.

      This has the pump&dump speculators involved. But there are also tons of long term sustainability and fundamentals involved too.

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          ·  7 years ago 

        Doesn't really matter that BCH is the longer chain, since the difficuly was always way lower than BTC. The total work is what most people care about. I think BCH will overtake BTC eventually, but BTC has over ~50% more work than BCH.

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          ·  7 years ago 

        I agree it won't happen right now. It could take upto another year. If some banksters pull of something things good go in a different direction. I actually had a very long discussion on this post: https://steemit.com/cryptocurrency/@arthuradamson/bitconnect-investigation-if-this-is-a-scam-and-it-falls-the-government-will-not-turn-a-blind-eye

        Please take your time to check it out. There was several pages worth content in the comments.

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