Checking in on Bitcoin and Bitcoin Cash
With all the recent news about bitcoin hard forks I thought it’d be a good time to look at the last hard fork, Bitcoin Cash (BCH).
As you can see from the coinmarketcap top five below, Bitcoin Cash now ranks fourth. It has spent most of the time since the fork ranked third. And at a price of $320 it’s at its lowest price since the hard fork happened.
At its highest price BCH traded over $900. If you were able to sell then, kudos to you. BTC traded around $2,700 prior to the hard fork, so selling BCH at $900 is like a 33% dividend. That makes BTC a very productive asset!
Of course if you’re measuring in BTC the dividend wasn’t quite as big. By the time BCH traded at $900, BTC was trading at $4,100. Still though, that’s a 22% dividend.
According to the experts the winning “bitcoin” will be the one that gets the most hashing power.
In that case BTC is winning hands down. See the graph below.
I’ve always just held my BCH. I consider it a free hedge and a bet on Roger Ver and Jihan Wu.
But of course now Roger seems to be supporting B2X as well. And it has me thinking maybe I should sell the BCH.
What do you think I should do?
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I've just been holding onto my BCH and I will probably do the same with gold and segwit 2X. I feel that the whole crypto market still has a long way to go. Plenty of people out there still don't know much about the crypto world. Once it goes more mainstream, then I will consider consolidating into the big, main coins.
I agree the crypto mkt cap can get a lot bigger. Interesting strategy, I'm still leaning towards selling any BTG or B2X I get.
I like BTC ETH NEO LTC DASH as my top 5.
My old dead granny always said "When in doubt BUY BOTH".
Now I do everything in life in 2s. I swear, I swear :)
great advice, advice
lol lol
i dont think bch is going to survive after the hard fork
Half of me is thinking that and the other half is saying don't bet against ver and wu
i think you should wait after the hard fork then sell your bch
great post!
lah yesahl 3lik hhh
I'm 100% in the same boat as you. At the time of the fork I didn't have much bitcoin, mostly alts, so I only got a little bit of BCH. I've sold half at $650 and held on to the rest, 'just in case'. But now I am wondering the same as you: Should I just sell?
Then again, I can't shake this itch that says 'But.. you never know..'
Also I don't think Roger is supporting B2X.. I think he's just aiming to weaken BTC, because the only way for BCH to survive is if BTC no longer dominates.
edit: additionally, I didn't even bother chasing BitcoinGold.. I would much rather have these cheap alts than a BitcoinGold that nobody wants anyway. In hindsight, I had underestimated the bull run Bitcoin would take because of it. My portfolio suffered! But I did pick up cheap, cheap OMG! (and more Loopring, very bullish on it)
Maybe selling half is the answer. Scratch the itch and hold some just in case.
BitcoinGold doesn't look like it's going anywhere. I'll sell if I have a chance.
Been picking up OMG too. I'll have to check out Loopring, thanks for sharing!
Yeah that is what I usually do when in doubt - do both :)
But in my case, I have already sold half! So now I'm holding this half bag.. Then again, the amount is so low that it really doesn't matter..Even withdrawing it from bittrex will take up a significant percentage of the total in withdrawal fees!
BitcoinGold indeed is going nowhere. And from the looks of it Segwit2X isn't either lately. I'm starting to think the market is going to be reacting very differently than we may think with the upcoming forks. Not sure Bitcoin is going to keep rising, people may prefer to cash out and forego the worthless forked coins instead. Time for the altcoin boom?
Altcoin turn around starting Nov
I think it may be sooner. Or, I hope. Because I can't handle much more of this drain ;)
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