Bitcoin Cash breaks to the upside
Bitcoin Cash has had a break to the upside in recent moments, exploding out of the short term descending channel I created for it as you can see here.
Current Price
We are currently trading on BitTrex at a Btc price of 0.07399999. We have hit a local high just under .08. I am not sure how long this will be sustained, but I drew in an ascending gan fan from the floor at the open of trading, and a spike to our 3:1 line could see a price of nearly 0.1.
Price receeding
As I write this, price is redeecing a little bit back towards 0.07. Lets see what we have in store for us tonight!
Happy Trading Everyone!
Thanks for reading, like and upvote if you enjoyed this content and I will continue to make more!
Grady Brown
@rawpride
Bitcoin: 1GKkT6DPdS4BynmRwEfwJT1LLTe1datVZw
Ethereum: 0xdE4Ff36C94494a58a16Bd322b35d58a87d5C20b7
Litecoin: Lhu9p19VSMSDSzPUCaiXMoTvoGD9RuwSD6
This post received a 2.6% upvote from @randowhale thanks to @rawpride! For more information, click here!
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Your prediction was great. I just sold at 0.10200000 and its already down to 0.09270000. Will probably buy back if it goes closer to $150.
DGB hit me hard 2 days ago and need to make that money back.
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Glad I could help :) I think we could see $150 in the short term, longer term I think it could go even lower.
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My trade yesterday took about 10 hours. Glad to be rid of it at over $200.
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All I know is that BCC or BCH isn't going anywhere. I do not have the extra cash to invest in it either. I wish I did at today's price of under $200!
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Yeah, I am not convinced yet tbh. The miners are running from BCH. confirmations on the network take forever, it's far worse then bitcoin.
Have you tried transacting with it? Took over 24 hours for my BCH to become tradeable on BitTrex after sending it.
I see it as severely over priced, and should go below $100 for sure, probably below $50, and still quire likely to go to $0. If the miners stop mining it, it won't have any value.
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Is BCC/BCH broken? Is it not doing what it said it would do? I have not kept track. Perhaps it is failing as some people have suggested. BTC still has serious design flaws, right?
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It was taking hours per confirmation to send a transaction. There is no telling what will happen long term, but it's slow as molasses right now, and has 10% the hashing power it did when it launched. I haven't sent it again, but I will to test it out. My guess is it's even slower now.
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Ugh, that was the whole point of it... to speed up the slow transaction speeds. /boggle
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You can't do that unless all the miners are on board with the fork. This fork has shown that any fork of bitcoin will fail unless all the miners go along with it. At the moment, it appears to be easier to launch a new coin. I fully expect this to be a dead cat bounce, and we should find new lows in the coming days.
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Well, that was my theory. BTC knows it has problems, it sees other coins closing in to fix them like ZenCash, and so it creates its own replacement to resolve the problems.
I'm not sure how things will play out of course, but certain coins will always beat out others based on value in the market. Will BTC always be the top dog? I don't think it will.
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I disagree with you on BTC but we will see. Bitcoin has the longest blockchain, the most hashing power by far, the longest transaction history, and therefore the most secure blockchain, and it's also the most trusted because of the network effect, it has been flawless in the trust aspect since it's creation. There same isn't true of Ethereum, so Ethereum stands no chance at ever beating Bitcoin. No one else is even close.
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Still brand new, give it time for difficulty adjustment - that is what miners are waiting for.
OR sell your Bitcoin Cash. Keep in mind that if Bitcoin Cash gets majority hashrate, Segwit Bitcoin has no difficulty adjustment except for default that takes two weeks, and the chain can literally come to a stop - that can't happen with Bitcoin Cash.
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How long does the difficulty adjustment take? I thought it has already undergone at least one?
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It goes down every time there are less than 6 blocks in a 12 hour period. There is also the difficulty adjustment that takes place every 2016 blocks.
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Has the mining difficulty changed drastically? I read today there was a possibility of a mining pool purposely manipulating the difficulty to try and discourage other miners. News like that and it being oversold are the 2 reason I can thing of.
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One things for sure, it's not more valueable then Litecoin. So Litecoin is undervalued or BCH over valued or both. I think both.
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I agree 100 %
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Thanks for breaking this down. As with most, not really sure how I feel about bch. Not overly enthused though
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muy buen post bro
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what?
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