ZClassic and Bitcoin Private. The Ball and the Sword.
You don't understand my words. But you must choose. Bitcoin Private or Z Classic. One is the sword, and the other is the ball. Which is which, and who shall you choose?
Friend, what is it that you want? What future do you welcome?
Is it ZClassic? The two hundred dollar, .014 bitcoin valued token. The 18 million to be released into a 21 million supply, $621 million dollar, 45 bitcoin market cap fork of Zcash. "No Slow Starts" on first 20,000 blocks, no founders tax, better return for miners. It's whitepaper is on it's website. There is a reverence for Peter Todd. Combine this with an ongoing dialogue on privacy & selective transparency ZClassic has market potential in the blockchain marathon that has just begun. ZCL $201.34 USD, 0.01463280 BTC.
But is it Bitcoin Private that appeals to you? Many of the same things that ZClassic has: fast, decentralized, equal miner rewards, discretion. It is being co-forked with bitcoin and give bitcoin and zclassic holders a 1 to 1 airdrop. If you have 10 zcl and 1 btc, upon fork you will recieve 11 btcp. The supply released will be equivalent to the total zcl and btc combined. The website has no whitepaper, and seems very helpful when it comes to helping visitors find zclassic information. What the future holds for this effort I do not know. Their website says the "whitepaper is so close they can taste it". Something to be learned from the B3 "Rebranding" is that there is still no whitepaper public. What lesson that is, is up to you to receive. But Bitcoin Private may prove to be another important participant in this game of coins.
Or may I be so bold as to ask if what you want is more US Dollars? You want more lambos, lasagna, travel, or time to love family? You need money now. It's time to take profit and you have bills to pay.
And finally, is what you want more Satoshis? More Bitcoin. You have a plan and that plan is to always be powering up the Bitcoin. And now you feel is time to power up.
The Dollar. The DXY. I don't know anything. but on the monthly it's currently around 90, should next see around 88, then 102 by 2020 and 120 by 2025. That's according to an arbitrary elliot waves forecast. It's also a reminder how individually interpreted elliot waves can be.
For example.
Maybe Johny goes marching home to 110 by 2020. It's open to interpretation where you see the waves and patterns. Either way, one can forecast a bullish dollar over the next several months ahead. If one needs cash on hand for a while soon, it's ok to respect the relationship fiat and crypto are creating.
Likewise, Bitcoin can be given optimistic aspirations that perhaps we have reached the end of the short ABC before continuing upwars.
Maybe Bitcoin has just begun a full ABC reversal and we test support at 10400 in February.
Other maestros of the charts may suggest a steeper drop in Bitcoin price. The fundamental news on Bitcoin bullish as CFTC entities along with CME and CBOE continue it's western regulated trading of price. This alone brings billions each day into the industry and creates demand for every other blockchain's token. Peter Thiel just picked up some heavy btc bags. If dollar is King, Bitcoin is Empress. She lifts all other coins up. She has led the way thus far and despite complaints of speed and fees, Bitcoin is still the face of the franchise. I see a 2018 eventually ranging between 21K and 28K. Come next year who knows.
Dance Break
So let's look at the chart for Bitcoin Private.
So I will admit. I do not know all the fundamentals involved in Bitcoin Private. I trust others that are more involved or informed with Bitcoin Private will leave a comment on this post with more links to info. It is appreciated because the charts, both usd and btc can not be used to discuss valuation of this investment.
I can see a healthy future for the ZClassic team. The little fundamentals that I see are reinforced with a whitepaper and community aware of it's roots but with a future showing incentives. The charts are the charts.
This is the weekly. And just eye balling price memory, It looks like price wants to correct to the .009 level. 121 usd. There appears to be a stair stepper sell wall ahead in the order books.
An impartial glance at the daily suggests something similar.
But then Elliot Waves come along and open up the possibilities. We might be seeing the beginnings of a greater massive wave upward in the mid to longterm future. However if we just completed a 1-5 Elliot wave in momentum, then we should be expecting a retracement wave of ABC. In that case near term could look something like this:
I don't know how to get the charts on Trading View to zoom out, otherwise I could give you a number on All Time Highs bullish Elliot waves forecast. But still a dip to the .006 levels.
This is all Eliot Waves hypotheticals. I am still playing around with Elliot Waves, which all anyone can do. The more I have learned about them, the more open to interpretation they can be. Which is fine. All the same, I've approached investing in Crypto from a slow motion point of view. I look to buy, and have no plans on even thinking about taking any profit for the next 6 months to 6 years. Preferably the latter. So with that in mind, if I am bullish on ZClassic in the longterm, I am happy to see it dipping because it means there are more buying opportunities for me to increase my position. And if I am interested in the 1 to 1 reception ratio of the Bitcoin Private Fork, then I have more opportunities in the short term to increase my investment in that. Overall a great situation for anyone bullish on ZClassic longterm is a short term bearish correction.
It looks like the Fibonacci retracement levels are in the .008's in btc, 100s in USD. From there we should see a continuation of a bullish momentum to All Time Highs in Febrruary. No, I do not have a price target. And if one is invested in ZCL, one might HODL for the next 6 months to 6 years anyway.
What goes up, must go down, and what goes down, must go up. Buy Low, Sell High. If you are bullish on ZClassic and Bitcoin Private, you have an opportunity. If you were looking to sell ZCL before February, then the opportunity to take profit was a couple days ago. If one is a sniper of a trader, one could flip the dips. Overall a healthy scenario, bearish short term, bullish longterm, for ZCL and BTCP enthusiasts.
I am no maestro samurai. I am humble servant. Thou art welcome to do with what I've shared with you. Trading and investing involve making a choice. What is the blade or ball you will choose this month? What indicators do you use in Technical or Fundamental Analysis? Have any charts to share in the comments? What charts would you like to see next? May you all be well, healthy, and blessed.
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wow great post!zclassic is better then bitcoin private!
Well, that's one way to look at it.
actually i m new to cryptocurrency!
Thanks for the recommendations, I am about to start trading and I am looking for quality post to learn from the most experienced people. Your post is an option to learn. Regards!
Disclaimer: I am just a bot trying to be helpful.
how do you think about the price of btc earlier this month the price is getting down?
nice write up, i got some zclassic during their airdrop, cant believe its about $200 now.
Congratulations.