Have You Sold Bitcoin Cash? | BCC/BCH Will Crash & Here's Why | viaBTC & Others ONLY Mined 32 Blocks Since Hard Fork
First of all, last time I checked coinmarketcap, Bitcoin Cash was down 38.38% and this downtrend will continue until Bitcoin Cash becomes a thing of the past. I trust users and traders will wind up leaving Bitcoin Cash and concentrate their eyes back on the genuine, unique Bitcoin. Bitcoin is as yet holding it's cost and also prepared to make new highs above $3,000. Before long as this unnerve over Bitcoin Cash begins to fade away, Bitcoin will continue it's upwards inclining like the fork never even happened.
In my opinion, people will start to dump all of their Bitcoin Cash once they see Bitcoin run pass the $3,000 resistant and breaking into $4,000 area. It's very very obvious that the fork had little to 0% effect on the actaul bitcoin price. Bitcoin cash ran up way too fast and it's going to go down just as fast as it went up to normalize. That will cause more panic selling of Bitcoin Cash and more buying back into BTC but wait a minute? I'm hearing massive rumors that a lot of people with the new Bitcoin Cash cryptocurrency can't even deposit their BCC/BCH into exchanges and cash out anyways.
Can the new Bitcoin Cash be worthless since users can't sell? If that's true then just like an updated price drop to -40.46% for Bitcoin Cash, expect the price of BCC/BCH to go down A LOT more because how are you going to own something that when the value goes up, that you can't sell it? Profits is made by selling your supply at it's HIGHEST demand but when you are unable to sell your supply, the demand fades aways and your supply becomes worthless.
Users who went ahead with the hard fork so quickly did not let the crypto-world prepare for such a split. The biggest reason why Bitcoin Cash will crash is because the currency does not have enough mining power pools like the original Bitcoin. The biggest known Bitcoin Cash miner is viaBTC but who else is mining for Bitcoin Cash? I never once believe that big whale miners would even think about switching their mining operations they had for years mining Bitcoins over to Bitcoin Cash. I mean, why stop mining for certainty of Bitcoins that already has a global system in place and leave for uncerntainty of Bitcoin Cash that the world didn't even prepare for?
According to Coin Dance, there has only been 32 blocks mined since the Hard Fork. That only translate to one thing and one thing only. Bitcoin Cash does not have the hashing power to mine the same difficulty as Bitcoin. Did the community of Bitcoin Cash think about how they were going to generate the same hash power as Bitcoin without world miners mining for Bitcoins instead of Bitcoin Cash? Bitcoin is 268 blocks ahead of Bitcoin Cash for a reason and it's because whale miners & minnow miners did not shut down their mining operations to go over to Bitcoin Cash. Whoops, Bitcoin Cash community thought they had it figured out because now that they have their bigger blocks, they just don't have enough mining power to mine the blocks.
Bitcoin is contuning to leave Bitcoin Cash in the dust, so far that Bitcoin Cash will become worthless. Bitcoin Cash miners will stop mining for BCC/BCH and go right back to mining for Bitcoins and realize they were caught up in this Hard Fork Frenzy. If Bitcoin Cash was really free money, users wouldn't have any problems cashing out but so far, I'm not hearing anybody say they just sold their Bitcoin Cash for more Bitcoins. Has anyone even managed to sell their Bitcoin Cash yet?
If you sold your Bitcoin Cash for another cryptocurrency, leave a comment below to let us know that rumors of not being able to even sell your Bitcoin Cash is true or false.
