Last dip in (BCH/BCC) Bitcoin Cash wave before Bulls run back UP
These seem to be the last dips in the BCH/BCC Bitcoin Cash wave before before the Bulls take over and run back up, as it seems that the correction consolidation is starting to come to a resolution through so many waves of massive selling across the whole market. It's getting close to time to let the Bulls run wild... ;) We now have upward movement off the last dip.
1) This last dip has been hitting through and bouncing off the rising channel support line of the 50 day (EMA) moving average.
2) MACD/RSI both well oversold show lots of room to rise now. This could be the last opportunity to get in at this current price level.
Apart from the TA, there is also the practical real life anaylisis that BTC (Bitcoin), AKA "Bitcoin core", has lost some utility and BCH/BCC, being the same pre-fork bitcoin, is aiming and coming closer to Satoshi Nakamoto's original white paper proposal in creating bitcoin. More specifically, it now costs $20 or more dollars minimum to send the least amount of BTC to another wallet/person. I did the test in recent days. It cost me on a segwit wallet $24 to send $145 of BTC and $0.27 to send $270 of BCH/BCC (Bitcoin Cash) from wallet to wallet. The BTC took about an hour and the BTC/BCC took only a few minutes to complete. In my view, it doesn't take a rocker scientist to see how it's only natural that people will migrate to use in any practical manner the one which is faster and cheaper. On the hopes BTC has on the Lighning project, let's remember that Lightning will also work on BCH/BCC and others as well.
Certainly BTC has more inate value at the moment in it's embedded infrastructure such as now being speculated on in the CBOE and CME options markets, but if they don't move quickly to better compete on cost and speed, then once BCH/BCC build's into the entire cryptosphere, sooner or later BCH/BCC will most likely be worth more than BTC. Those are my thoughts at least for the time being. Who knows, though. With this still infant technology the sky is the limit to all the possibilities of how it will develop.
All the Best
1) This last dip has been hitting through and bouncing off the rising channel support line of the 50 day (EMA) moving average.
2) MACD/RSI both well oversold show lots of room to rise now. This could be the last opportunity to get in at this current price level.
Apart from the TA, there is also the practical real life anaylisis that BTC (Bitcoin), AKA "Bitcoin core", has lost some utility and BCH/BCC, being the same pre-fork bitcoin, is aiming and coming closer to Satoshi Nakamoto's original white paper proposal in creating bitcoin. More specifically, it now costs $20 or more dollars minimum to send the least amount of BTC to another wallet/person. I did the test in recent days. It cost me on a segwit wallet $24 to send $145 of BTC and $0.27 to send $270 of BCH/BCC (Bitcoin Cash) from wallet to wallet. The BTC took about an hour and the BTC/BCC took only a few minutes to complete. In my view, it doesn't take a rocker scientist to see how it's only natural that people will migrate to use in any practical manner the one which is faster and cheaper. On the hopes BTC has on the Lighning project, let's remember that Lightning will also work on BCH/BCC and others as well.
Certainly BTC has more inate value at the moment in it's embedded infrastructure such as now being speculated on in the CBOE and CME options markets, but if they don't move quickly to better compete on cost and speed, then once BCH/BCC build's into the entire cryptosphere, sooner or later BCH/BCC will most likely be worth more than BTC. Those are my thoughts at least for the time being. Who knows, though. With this still infant technology the sky is the limit to all the possibilities of how it will develop.
All the Best
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Correcting an above typo:
It took BCH/BCC (Bitcoin Cash) only a few minutes to send $270 from one wallet to another and it cost only $0.27 vs. it took over an hour to send BTC (Bitcoin core) from one wallet to another and it cost only $24.00.
That's about 100 times difference in cost and about 10 times difference in time.
I'd be curious to hear anyone else's research as well.
All the best Christmas Wishes trading ;)
It took BCH/BCC (Bitcoin Cash) only a few minutes to send $270 from one wallet to another and it cost only $0.27 vs. it took over an hour to send BTC (Bitcoin core) from one wallet to another and it cost only $24.00.
That's about 100 times difference in cost and about 10 times difference in time.
I'd be curious to hear anyone else's research as well.
All the best Christmas Wishes trading ;)