Bitcoin and Bitcoin Cash
Today the big three coins take a tumble. Today was one of those days where my technical analysis were all off because fundamentals really took the reins. Quite simply, Coinbase added bitcoin cash to their list, and issued out all their coins from August 1st. I expect that this is going to create a big stir in the market. Expect BCC to be one of the top volume coins for at least a day or two. I'm uncertain if BCC is going to grow or decline because there are arguments to both sides of this.
Grow:
-BCC now being on Coin Base will allow a huge amount of new money to come into the market and pump it.
-CoinBase users may not know the differences between BTC and BCC and may make their purchase decisions on nothing more than that BCC is cheaper.
Decline:
-BCC coins being issued out will allow many to dump their coins onto the market for a quick buck.
My personal opinion:
I think we are going to see the attention pulled away from many of the alt coins and A LOT of volume going back and forth between BCC and BTC over the next few days. Don't forget that when BCC initially pumped, it actually achieved more daily volume trading than BTC did for a few days, which is quite the accomplishment. I wouldn't be surprised to see BCC and BTC make some wild moves over the next 48 hours. I won't attempt to speculate on prices because truthfully, how could I know.
Very well put! In my opinion BTC and BCC's prices will eventually alternate. I dont think anytime soon but eventually. But yea, the next few days are going to be pretty entertaining. :)
Poor litecoin =( Was always my fav.
Yea I figured it would happen soon enough.. oh well.. good luck with further investing !! :D
I bought more btc when it was at 16k.
It's funny, I got issued my BCC, and its worth more than my BTC was when I bought it.
Awesome sauce!!
Just so you know, I don't see BTC going up just yet though, just in the last couple mins we have had bearish MACD crosses on the 15 and 30, and middle of the road RSI. I dunno if you scalp or actively trade, but I bet you can make a quick buck jumping in and out of tether over the next couple hours.
This was actually the first time I've encountered Bitcoin Cash's symbol as BCC. Normally I see BCH.
Yeah, I see it as both, its BCH on CoinBase, but BCC on Bittrix.