BitcoinCash UPDATE - Mining Support @ 30% - Why I think the price is going to $1250+!
Photos and art by me.
Hi everyone,
Quick update on BitcoinCash.
In the recent weeks since the fork we have seen the BitcoinCash price and hashrate drop substantially. The hashrate fell to as low as 7% of "Global Bitcoin Hashrate" and the price was well under .1 BTC.
I am proud to say that we have been seeing a recent surge which has brought the hashrate back up over 30%!
See screenshot below. Taken from coin.dance on 8/23 @ 3pm CST
This means we have seen a massive rise of over 1/4 of the total Bitcoin mining network rejoining the BitcoinCash mining side. 25% of the total amount of miners have now switched back to BitcoinCash.
This is HUGE.
People are starting to realize how incredibly hard to obtain BitcoinCash it really is (just like Bitcoin) and the price is starting to go up. Some miners will always mine the most profitable coins and will be switching back and forth often. Others, like myself are mining 100% BitcoinCash.
The battle has really just begun in the "war on crypto", but BitcoinCash has dealt a significant blow to BitcoinCore in the most recent week.
I am looking forward to watching this unfold, I know there is more action to come.
Judging by the current mining numbers on hashrate alone, that would put the price of BitcoinCash around ~$1239 (current price * .3)
This number is not too far off from my original prediction of $1500. Here
I do believe this is only the beginning for BitcoinCash, as more and more people realize BitcoinCore is not holding true to the nature of the original core principles and Satoshi's vision.
We cannot allow Bitcoin to fall into the hands of a select few, we can not allow the core project to stifle progress and censor good ideas.
We must break free from the bonds which are created for us by the minds of others, starting with our money. Real Bitcoins are freedom.
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Nicely done - I'm savin my bcash ...
Bcash is the TRUE Bitcoin :) HOLDDDDD
Came back to resteem ...
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