Bitcoin Cash Isn't Free Money | It's Already Priced Into The Market
Okay so I see a lot of people talking about how Bitcoin Cash is free money YAAAYYYY!!!!
I notice a lot of buddies of mine who either weren't involved in Bitcoin or had very little holdings are now wanting to buy in prior to August 1, to collect their free money.
I'm not an economist nor am I an expert on cryptos but here's what it seems like to me. The "real" price of Bitcoin right now should be $2400 to $2500. The price is currently inflated with everyone buying in to get their "free money".
We saw futures for Bitcoin cash open up at I think close to $600 and is now continuing to fall currently sitting at about $342. I think by the time August 1, comes around it will be significantly lower.
I personally don't think Bitcoin cash is free money, I think it's already factored into the Bitcoin price. It Bitcoin price continues to rise Bitcoin cash IMHO will continue to fall, and if Bitcoin Cash somehow miraculously goes up Bitcoin price is going to pull back.
It's my opinion this isn't free money just a balancing of the two.
beep beep
lool
I thought of it this way too. I'm surprised more people don't see it this way.
It is a good observation for sure. And by the time a lot of us found out about Bitcoin Cash it was too hard to react real fast unless you already had a lot of crypto sitting there. For those who had to bring Fiat in. It was too slow in most cases.
If history repeats itself there will be a massive sell off like what happened to Ethereum Classic and Z Classic (ZCash Fork) But when the dust settled they still remained active chains and a fair amount of interest.
I think Bitcoin Cash will be a top 10 crypto but it will make a hard fall with a savage face plant on the pavement knocking out some of its teeth before it can gain its footing.
The question is what can we do to make mad Bits? Maybe buy into Coinbase via ETH or LTC and catch a swing back up in the alt coins? I'm not sure. It is unpredictable.
Honestly i'm still confused as shit by this whole thing, I think I don't really support Bitcoin Cash but despite that if there is money to be made I'm all about that so if it gets killed I may pick some up on the cheap.
I'll be curious to see if it becomes a top 10 coin. I think it's a 50/50 whether it completely disappears into obscurity or becomes a top 10, I don't think there's any middleground though one or the other imho
All we need is if Roger Ver will trade a bunch of his BTC for Bitcoin Cash to prove a point! That could prop the market up! hahahahah
Hello. I agree that a lot of people are running back into bitcoin to get their free coin but I do not think it is already factored into bitcoin price at all. Once this fork crap is over and it will be over fast, BCC is going to die on the vine, bitcoin is going over $3000 on it's way to $4800 and higher. There may be a dip in btc price after the 1st but it will be people going back into other crypto currencies not anything to do with BCC. Even as a separate coin I don't think it has a chance since it demands the removal of segwit and it is just going to be isolated and fade away. I think most will sell it quick for some bitcoin and it will fizzle out, like a bottle rocket a little flash, a pop, and it's done. Good luck. Peace.
I present this point... all these people are buying in to get free BCC... that value has to be figured in... if BTC should be 2500 USD you have to add the value of the "free" BCC... prolly a 3-400 coin.. if you add those it is right in the $2800 range... meaning it really is going up... people are investing in BCC without realizing it. I think the smartest thing (not what I'm doing) is to snatch up altcoins while everyone's attention is diverted to BTC..
I think that's a good point. THere's a lot of great altcoins that are down 50% or there abouts in the last 30 days. I've been buying them up like crazy. I wish Ethereum and/or Litecoin would come up a bit so I can justify dumping some more of those to put into alts.
Any alts your liking especially well? I got my eye on Lisk and NEM, Siacoin and if Steem gets back down around a buck I'm loading up on that
it s like a real stock that split share the price go down put you have more share