RiversAndMountains
Long

Bitcoin Cash - An Arguably Mandatory Hedge

BITFINEX:BCHUSD   Bitcoin Cash / Dollar
What's most important in trading is protecting your money. Politics do not matter, and actually can be a clever tactic that's used to have people part with their money unknowingly.

With the upcoming November S2X potential fork, Bitcoin             Core faces a very real potential black swan.

Why?

Because Bitcoin             Core is only able to retarget difficulty every 2016 blocks, regardless of how long those blocks take to be found. What this means is that if Bitcoin             Core loses a lot of hashpower in late October or November to either S2X or Bitcoin Cash             , that the Bitcoin             Core chain may pile up beyond salvation with unconfirmed transactions and will be unable to extricate itself from the ensuing death spiral even if it miraculously received a difficulty re-target because of the 1MB block size.

Thus, it's important for every single Bitcoin             Core holder to hold a hedge for this potential event, in my opinion.

Bitcoin Cash             was claimed by many to be a pump and dump scheme that would quickly become worthless (They were two months too early in predicting "Bitcoin Gold" for that allegation).

Despite that, in August, Bitcoin Cash             went on one of the most manic runs seen in crypto and tripled in value and has slowly downtrended ever since.

It has since broken out, under tremendous volume , the most recent downtrend line, and unlike previous false breakouts, has held multiple 4H candles above the trend, but between the major trendline , while also still being in a resistance cloud.

At $400 or less, Bitcoin Cash             is an extremely, extremely easy buy and hold hedge for say 5-30% of your Bitcoin             position.

If nothing else, there are very, very realistic chances the $400-435 trendline will be retested.

If (when, in my opinion) Bitcoin Cash             breaks out, it will be the mania that vortexes new money and users into crypto.

Why? Because Bitcoin Cash             , according to Bitcoin             .com itself, is Bitcoin             .

And for one of the very rare times in history, everyone knows what Bitcoin Cash             is worth if it becomes Bitcoin             ($5,000+).

Greed and fever will set in when Bitcoin Cash             breaks $1,000. Even Bitcoin             Core has not seen the level of parabolic hysterical fever that is coming.

I'm making the call now: Bitcoin             Cash's current breakout is 100% real. The bull flag , volume , and lack of hysterical Z-Cash             style pump are all major indicators. It is by no means finished.

Cash will revisit $700 in the very short term future, and will suddenly make itself very, very relevant in the discussion of which chain will wear the Crown in November.

I even put the rocketship icon on the chart for posterity.

Bitcoin Cash             is the biggest bear trap in crypto history, and right now you're getting in the range of a 15-20:1 overlay on your BTC             .
Trade active: After dipping during the Bitcoin dump below the smaller orange downtrend line to a low of $305~, we've since regained the 325-330 area above the smaller downtrend line.

This is a very good confirmation.
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This is a joke
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@v33_r, Rather than hyperbole, you're free to substantiate your claims.
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Where to buy Bitcoin Cash? https://LocalBitcoinCash.org/
+1 Reply
RiversAndMountains PRO LocalBitcoinCash
@LocalBitcoinCash, Thanks man. I'm a fan of you guys. Hit me up with a follow.
+1 Reply
jdeep LocalBitcoinCash
@LocalBitcoinCash, Roger Ver's trunk.
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Thanks you
+1 Reply
Hmm, your points are very interesting. I arrived at a similar perspective but for different reasons. I am not totally sure that it will make such a dramatic run in November, although it is possible. But I do think that it will surpass BTC for sure.
+1 Reply
@astrologychick, Timing is a very tricky thing. Pay close attention to what happens around next BTC difficulty adjustment. In the case of Bitcoin Cash right now, if price gets knocked down near $300 that actually may be hidden bullish divergence and makes for an excellent entry point.
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astrologychick RiversAndMountains
@RiversAndMountains, Lol, I'm an Astrologer and my tagline has always been 'Timing is Everything' so I agree with you. But yes, I am not a market expert so this is a whole new ballgame for me. I am HODLing a lot of BCH already since I traded into it when it was released. I would trade the swing between the two Bitcoins if I had more confidence in the numbers. But I think you make a really good point about mania setting in if BCH goes over $1,000 again, and that would be a case where I would not want to sell because mania is totally unpredictable.

Mainly I think BCH will win because Core has a corruptible back door that has been built into SegWit and are also on the payroll of major banksters. BCH is the Bitcoin for the people. I also think it will win because it came into existence around the Eclipse and ultimately it will eclipse BTC.
+1 Reply
jdeep astrologychick
@astrologychick, seems legit.
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