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RE: BTC Analysis Update - Nov 23, 2017
RE: BCH
It has been difficult to tell if the BCH community is legit or not. There is a lot of FUD going around. None-the-less, I am more inclined to believe the BCH crowd over the Core crowd at this point. I have made some profitable trades on BCH over the last few days. I'm trying to figure out where to park my coin while this battle between BTC and BCH plays out, but I'm not entirely sure what the safest area is. Perhaps ETH is the safest for now as I ride that wave so that I can purchase more EOS in due time. I'm also eyeing LTC as the chart just looks ripe for a take off.
@unlockrs I think DASH is a reliably safe coin to hodl while the current BTC/BCH FUD is resolved, not to mention undervalued; Ted had pegged it to reach 800 by end of the year. Given recent moves upwards I think it has potential to make at least 50% gains while waiting for an early 18' EOS drop :)
Thanks for the tip. I got into DASH last night and have made some money and keeping my stop-loss right behind it.
An interesting read re: BTC/BCH https://medium.com/@twobitidiot/politics-religion-and-bitcoin-cash-51c28af59f53
Just my perspective, however legit the BCH crowd is, probably shouldn't matter. Like I get crypto traders do not necessarily care or understand this, but how many base pairs work with BCH? Then it's tech is not amazingly better than other alt-coins.
BCH would only have a future if all the exchanges in majority decided, "This is the true bitcoin. It is now the base-pair for exchanges." Then Bitcoin becomes an altcoin in terms of base-pairs on exchanges.
If that doesn't happen then BCH is a junky altcoin with no features. Has a high circulation of coin but to me that's a small thing.
The market doesn't care about fundies though, and is pricing it on news generation and maybe hash power. But like 3 years from now, why are people going to buy and use BCH? There's no valid use case. It's a traders situation with nothing substantial backing it. I wish BCH would take over but exchanges are never going to permit that.