Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Won BTC Cash battle?
by
illinest
on 17/11/2017, 23:50:08 UTC
So it appears bitcoin has won against its strongest nemesis as of yet, and quite convincingly too. Bitcoin Cash going back towards under $1000 whereas bitcoin reaching new heights surpassing 8K.

I'd like to think this means Bitcoin has "won" but that was just one battle. It looks like Bitmain still isn't selling any of their mined BCH, so I think we can assume that this war will continue. If Roger Ver and Jihan Wu intended for it to collapse after one frenzied evening of pumping, they wouldn't leave Bitmain holding the bag. These guys aren't stupid..... I think they're plotting their next move.

Their master plan depends on low supply on exchanges. Even though there are 16.8 million BCH in circulation, probably only ~1-2% of that (if that) actually trades on the exchanges. This makes it much easier for them to prop the price up than people think, especially when they are leveraging no-fee exchanges to give the appearance of high volume trading.

If the selling pressure hasn't dried up yet with that dip to the $800s, I'm guessing that the Bcash supporters will make a stand in the $600s. Then we'll probably see another pump attempt. I'm a contrarian trader, so when bitcoiners are celebrating the death of Bcash, I'll probably be buying it for a short term trade.