Bitcoin Trend 05-10-2017 Midday Update / Bitcoin Gold Hard Fork 25 OCT
Bitcoin Gold (BTG) plans to hard fork the cryptocurrency on October 25, creating another version of bitcoin in the process. The project was first made public back in July and was created by Jack Liao, founder of Lightning ASIC, a mining firm from Hong Kong. The fork will include the adoption of a new protocol that will change some of the consensus mechanisms relating to bitcoin. The result is that miners would be able to go about mining for tokens in new ways.
BTG will make use of the Equihash algorithm that Zcash uses, rather than Bitcoin’s SHA256 algorithm. Anyone who holds Bitcoin on October 25th will receive Bitcoin Gold at a 1:1 ratio in Bitcoin Gold supported wallets.
This hard fork is expected to create FUD (fear, uncertainty and doubt) which will drive many people to sell their Bitcoin hence dropping its value.
So What Next..
Expected trading for the rest of day is between 4000.00 support and 4500.00 resistance.
Bitcoin price falls under negative pressure and will try to
test 3776.00 level..EMA50 support for the rest of day the bearish trend..
Breaching 4350.00 level and holding above it, will stop
the expected decline..
Expected trading
for the rest day is between 4000.00 support and 4500.00 resistance..
Expected trend for the rest of day: Bearish for the rest of the day..
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@lordoftruth,
Thank you for this report! hope to buy few BTC at that market panic times :D
Cheers~
So much informative post...i like it very much...thanks for sharing with us....
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so this time also users will get the btc gold for how much they have in btc 1:1 ratio ?
Another bitcon Q.E. in process ....
Why would you sell if you're getting free money?
I am new to Krypto and still don't get a lot of things... but bitcoin rose over 2000 points as a result of the last Hard Fork!
Be careful. It was not the fork that increased the value of bitcoin. It was money that was introduced to the ecosystem during that time. And the surge was due to a lot of media exposure and speculation with margin trading. Lot of shady business in the industry currently. Keep your eyes open and have a good one :)
Thanks for your comment :)
But how do we know the money flow one direction and not the other? I mean we saw a huge pump in a lot of altcoins in early summer, and I think all that money went to Bitcoin, there the rise
And yet, when stocks offer "free money" the price usually rises before and after that generation of new capital... same happened with bitcoin... i'm not saying that was the cause, but certainly have helped
We should be very careful with supporting forks. We have the best opportunity since the great revolutions of the 19th century, to improve our lives and distribute wealth in a way that is more just compared to our monetary systems of the past centuries
It is our responsibility to see only the forks that are allowing us to do so (distribute wealth) supported. Do your research and do not support someone's short time interests. What we do in the following years will shape the future for the generations to come.
@lordoftruth - Sir, this is a very useful information about upcoming hard fork. Love it Sir <3
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Thanks for giving the chance to enjoy this beautiful news!!