After Bouncing off of the bottom Support of the Rising Channel, there is a good chance we will see a 3,000+ breakout occurring in the near term.
Breakout Area Once the Dec. 28th Segwit2x hardfork is complete Mass migration into Bitcoin Cash could very well take place For it's Jan. 2nd 2018 hardfork...
The channel is pointing upwards. The Buy Zone to get into BCH ( Bitcoin Cash ) is steadily rising, bouncing off of and testing bottom support of the still rising channel. MACD and RSI are both oversold breaking up with lots of room to move off these steadily rising support levels. So all systems (signs) are go from what I see as the volumes creep back into normal gear that could pump the price action more in the general upward trend this support channel is carrying us.
$2,580 is the first Fib. 50% entrancement target into a heating Buying Opportunity. Then next is $3.035 for the 61.8 full breakout to start moving UP in the direction of new ATHs (All Time Highs).
Research shows Bitcoin Cash (BCH) cost ONLY 0.1 - 2% of what it cost to send Bitcoin (core) (BTC).
Bitcoin Cash is 100X a better "Medium of Exchange" than Bitcoin (core) and is still valued less than 1/5th.
You do the math...
Looks like lot's of upside there to me... ;)
Basic economics for a crypto "currency" to succeed as a "medium of exchange" is that it must beat out the competition in cost, speed, reliability and security - with emphasis on COST.
If noting else, I consider these good well-thought-out reasons to at least hedge Bitcoin Core ( BTC ) bets with Bitcoin Cash (BCH).
Of course, "this is not financial advice". I'm just sharing my research, thoughts and ideas.
Wishing you all Happy Holidays and All the very best wishes of luck in your trading ;)
So when LightingNetwork will appear, BCH will lose its main advantage in competing with bitcoin
Inspirar
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@KrzysztofWaniak, What the Lightning Network will do for BTC, it will also do for BCH and others too, at least from the info I understand.
wli2305
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@Inspirar, From my understanding, Jan 2nd is not BCH upgrade, its a BTC fork. so we will essentially have to TWO BITCOIN CASH(s)... correct me if im wrong or verify please. I have Googled the shit of out it and its extremely misleading & confusing what these forks are doing.
wli2305
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@Inspirar, And thanks and congrats on the chart. You did predict the pump.
wli2305
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@KrzysztofWaniak, I agree, the lightning network upgrade will slow down BCH for the meantime. I just verified again and BCH doesn't have a Jan 2nd upgrade, its BTC FORK.
Inspirar
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@wli2305, My bad. Yeah, according to their site on bitcoincashplus.org "All Bitcoin holders as of block 501407 (about january 2nd ,2018 7am) are also owners of Bitcoin Cash Plus". So I guess it is just another hardfork off of the old Bitcoin core BTC and NOT Bitcoin Cash (BCH). This is actually better in my view for Bitcoin Cash, which is already working just fine as what seems to be the only true original bitcoin in terms of it's features as a "Medium of Exchange". I've gotta admit that their stealing the name of Bitcoin Cash and adding Plus is pretty deceptive.