Bitcoin Cash Officially On GDAX
The wait is over ! One month after the "Coinbase Pump" (See the Chart 2 below), BCH will officially be listed on GDAX ! In an official tweet from GDAX, they claim that BCH will be listed on the exchange on January 17th. You can view the official statement in their site, link provided - HERE
I think these news will please a lot of people, who are eager to sell their Bitcoin Cash. I am very interested in what initial effect it will have on the coin. After the December fiasco, some people are sour and would like get their money off GDAX.
Of course others are eager to buy the cheaper version of Bitcoin. So it will be the classic Bull vs Bear clash on 17th of January. Of course long-term the markets will reach an equilibrium point, so the first few days will be of interest to me.
If you look at Chart 2, you can definitely see a PUMP, hours before the GDAX listing of Bitcoin Cash. For me this is definitely insider trading. You know how it goes, you tell a friend, he tells a friend and in the end everybody is buying Bitcoin Cash.
Here is what Brian Armstrong (CEO of Coinbase) had to say about the matter:
“Given the price increase in the hours leading up the announcement, we will be conducting an investigation into this matter,” he said. “If we find evidence of any employee or contractor violating our policies — directly or indirectly — I will not hesitate to terminate the employee immediately and take appropriate legal action.”
In my opinion the low liquidity in some coins make it far too easy to manipulate. Various "crypto experts" are suggesting coins, which they bought before the announcement. This is fine with me, because this market is so immature - everybody is looking for tips, instead of doing their own research.
Cool. But I do not think there will be another pump. Even ETHBTC has very low trade volume there
Volume is kind of thin in general these days on GDAX. But we should not underestimate its importance
Good, now it will grow more and I’m gonna win more money hahaha
Good for you ! Don't forget to reinvest them in STEEM :)
That's very nice suggestion! resteemed.