Commenting the situation with Bitcoin Cash, I can tell you following. I think Bitcoin Cash is a useless altcoin with shitcoin level. I don't believe in this market. I don't trust this market. I think that Bitcoin Cash's real value is much lower than 1000.00 USD and the market can drop to it in short term. It's just only my opinion. But if you like adventures, this market is for you. Here is a buy opportunity. The price is going to bounce from the support zone formed by the uptrend line and SMA50. RSI confirms price reversal and MACD histogram is going to support possible upward movement. Pending orders for buy can be placed at 1510.00 level with stop orders at 1100.00 level. Profit targets are 2000.00 and 2450.00 levels. Using stop-loss orders is strongly recommended.
(disclosure, i am a BCH advocate and my portfolio is largely in BCH)
wow, i'm surprised to see you use such emotional commentary without concern for, at minimum, a sentence or two to defend what you are saying.
When I read TAs / Professionals/etc, I appreciate the data being provided, just as I do your normal commentary....so when I read about you calling BCH a shitcoin thats being pumped and of way overvalued....I expect you to defend such an extreme statement with LOGIC and EVIDENCE.
You did not provide any, however.
What this indicates to me is you are invested in BTC...and/or have some allegiance to BTC....and are trying to use your influence to contribute to the negative impact on BCH....what this does, in my eyes, is lessen your credibility as an analyst. I may be right or wrong....but the fact remains that this post is an embarrassment compared to your normal analysis.
Next time you have such strong emotional distaste for something, please consider the importance of backing it up with LOGIC and EVIDENCE....
UnknownUnicorn1075771
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@flyinlynx, I agree it would have been interesting to see his reasoning and arguments of why he thinks BCH is a shitcoin. On the other hand... to say he is invested in BTC because of this, is very simple IMO. Maybe BCH as a project just feels off (as it does to me for example... also because of some big influencial players in that community, and how they were first promoting Segwit2X and than let it fall at a very convenient timing).
Still, I am not yet convinced BCH is a shitcoin. Nor that BTC is a good coin. Actually, technically they both have big issues that need to be solved, not? Personally I think (just from what I've heard) that ByteBall or something like this are interesting, but also have to do research about these.
UnknownUnicorn1075771
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@RobbertAbrahamse, sorry I meant: "to say it indicates to you he is invested in BTC because of this ..." (this is a bit different IMO of what I typed above).
kaylbee
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@RobbertAbrahamse, Technically, what flaws do you see in BCH? Thanks!
UnknownUnicorn1075771
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@kaylbee: Just like in BTC: A lot of electricity and hardware is needed for the Proof Of Work algorithm. I *think* (have to check if what I think is correct) this can not be downscaled as the high total costs of these basically assure the safety of the network as it would be extremely expensive to obtain 51% of all the hashing power and thus execute an attack (e.g. double spent). If it would be downscaled to cost less, an attack would simply become easier (less costly).
Furthermore miners might start to conglomerate more and more? This could ofc also make a 51% attack more easy, but also: it would make it easier for an entity to influence or even control the network. For example a government could maybe not allow the miner(s) to let new anonymous addresses put transactions in blocks.
Specifically for BCH: what will bigger and bigger blocks do to decentralization? If the blockchain grows very big and makes it necessary to have very expensive full nodes, does this cause centralization with all the issues this gives?
I am also a newbie to all this (so don't just believe me on everything), I am just very interested in the technology, social aspects and philosophy of what consensus is and so on :P
kaylbee
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@RobbertAbrahamse, Good points. Whatever coin can do so without great power consumption could be the future, especially now that Bitcoin's power consumption is making headlines.
lewistz
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Totally agree. Mass price manipulation going on via pump with BCH as well as market manipulation on many other levels. If this was a regulated market people would be certainly breaking laws. BCH has its whales/ miners lined up to attack, the timing was right... BTC also has its whales, investors, and miners that have a HUGE vested interest in seeing the true Bitcoin survive. They will fight. This will play out of the next few days and give a good opportunity for people to buy BTC at lower rates. Once the news turns positive for BTC and the weak hands are shaken out, and the BCH whales have spent all the BTC their are willing to pump their currency we will see it fall right back down to where it should be.
CrytoGio
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You seem to be angry and too much in love with segwit BTC, Bitcoin BTC is the real Kind yes ( and old and outdated one). The white paper prince (BCH) is shining, he knows how to handle the heat his dad lost a fork ago and the prince's truth and value is the one his aging father doesn't hold anymore. You can go against the current and loose the train.Trading lesson number one: "don't get emotionally attached". Mainstream is learning about whitepaper bitcoin BCH and they will pump more money. Relax and go with the flow, with your technical analysis knowledge, the prince will make you a lot of money (as much as his dad used to). The next king is a good one, he will conquer your heart. Don't resist it.
Peace, love and money.
wow, i'm surprised to see you use such emotional commentary without concern for, at minimum, a sentence or two to defend what you are saying.
When I read TAs / Professionals/etc, I appreciate the data being provided, just as I do your normal commentary....so when I read about you calling BCH a shitcoin thats being pumped and of way overvalued....I expect you to defend such an extreme statement with LOGIC and EVIDENCE.
You did not provide any, however.
What this indicates to me is you are invested in BTC...and/or have some allegiance to BTC....and are trying to use your influence to contribute to the negative impact on BCH....what this does, in my eyes, is lessen your credibility as an analyst. I may be right or wrong....but the fact remains that this post is an embarrassment compared to your normal analysis.
Next time you have such strong emotional distaste for something, please consider the importance of backing it up with LOGIC and EVIDENCE....