Bitcoin Cash becomes a “real bitcoin”. What to do?
Participants of the crypto-european ecosystem did not reach consensus on the second part of the Segwit2x hard-core (increasing the block size to 2MB). Bitcoin’s scalability problem is not solved, and Bitcoin Cash is supposedly ready to solve it, having a block size of 8 MB.
Why Bitcoin Cash is growing and Bitcoin is falling. What’s really going on?
Against the backdrop of news about the hard-core Bitcoin BTC grew several weeks in a row, it was clearly overbought, and its correction downward was inevitable (as we remember the trees do not grow to the skies).
Manipulation No. 1 – Chief ideologist and manipulator of Bitcoin Cash Roger Ver exchanged bitcoins from his wallet through the Bitfinex exchange to Bitcoin Cash BCH, this put a lot of pressure on the course.
Manipulation # 2 – Bitcoin Classic has died and advises everyone to switch to Bitcoin Cash
The developers of Bitcoin Classic (not BTC!) “Unexpectedly suddenly” announced the closure of their project, as they said “Bitcoin Cash has already solved the problem of scalability.” Following Roger Vero there is another attempt to manipulate the market.
Manipulation number 3 – in six months Bitcoin Cash will become the main bitcoin
The same people expressed the opinion that soon Bitcoin Cash will discard the Cash prefix and become the “main” Bitcoin. Now everyone remembered this and started talking.
Manipulation # 4 – 170,000 unconfirmed transactions in the Bitcoin network
There is an attack on the main Bitcoin network by fake transactions so that the miners do not benefit from the BTC mine, and they switched to BCH. On November 13, planned Bitcoin Cash, BCH blocks will be produced faster. If the miners switch from bitcoin to BCash, this will also affect the course.
In other words, our July forecast for Bitcoin Cash is coming true. If you have not read this article, then you can get acquainted with it now.
What will happen next with Bitcoin Cash and Bitcoin
Bitcoin Cash has already overtaken Ethereum and ranked second in terms of capitalization. Vitalik Buterin has already congratulated them. And for a while the course may grow.
After the BCash hardtop on November 13 and Bitcoin attacks on fake transactions (on the Bitcoin network now 160,000! Unconfirmed transactions), it will be more profitable for the miners to mine the BCH, and they will switch from Bitcoin. There will be information injections that it seems that now Bitcoin Cash can take the place of the old politicized Bitcoin, as most miners prefer it.
Bitcoin probably still can go down to $ 5,400 or even more, up to $ 4000. Against this background, more and more market participants will transfer BTC to BCH. And after that there will be a sharp dump (drainage) BCash and a sharp drop in the rate – so the people will fall into the next “whales” trap.
Roger Ver and his followers will be happy: they have now sold Bitcoin at $ 7700, and they will re-buy it much cheaper by $ 4000-5000 and then forward TO THE MOON again.
Probably still there will be positive news that the problem of scalability will be resolved through smart contracts, Lighting Network or still SegWit2x will be held.
Just at this time (roughly, December) the largest Chicago trading platform CME Group will launch trading bitcoin futures, which will serve as an excellent impetus for the return and capital increase in BTC. With the inflow of capital, the bitcoin rate will reach 8000 $ -10000 $.
Hold, buy Bitcoin on drawdowns, sell Bitcoin Cash on the HYIP.