BCH speculative till hardfork
Updated
Due to the announced hardfork which will take part may 15 lot of investors have run into this coin.
The hardfork shall upgrade the size of one block from now 8 MB to then 32 MB - what would give time to BCH with the scalability (in the case enough traders and users switch to BCH because they didn´t have any problems yet).
But perhaps even more important has been the announcement that with the hardfork BCH will be able to implement smart contracts on the blockchain. So it´ll be a hybrid between a coin and a token.
In my personal view that won´t be a too big advantage. There are other blockchains for this purpose and they have much experience (also bad ones), they have users, etc. Will BCH conquere in this marquet and will it be better than them (Ethereum, NEO, QTUM, ...)?
Possibly the run to BCH will be at its end on the day of the hardfork (or some days later). That´s what I expect.
Till the hardfork the price could trade within 1.300$ and 1.500$ with a peak on may 15 at 1.750$ (fib retracement 38.2%).
In the days after the price could fall to its fair value - which I see far below - perhaps at 1.050$ (swing trend line). This depends on the sentiment of the whole market.
So, in my opinion one can trade this possibity to its maximum but should be aware of the correction - which can take part every time.
Take in consideration that any announcement of problems with the hardfork will have an impact on the price.
Personally I do not trade this speculation.
The hardfork shall upgrade the size of one block from now 8 MB to then 32 MB - what would give time to BCH with the scalability (in the case enough traders and users switch to BCH because they didn´t have any problems yet).
But perhaps even more important has been the announcement that with the hardfork BCH will be able to implement smart contracts on the blockchain. So it´ll be a hybrid between a coin and a token.
In my personal view that won´t be a too big advantage. There are other blockchains for this purpose and they have much experience (also bad ones), they have users, etc. Will BCH conquere in this marquet and will it be better than them (Ethereum, NEO, QTUM, ...)?
Possibly the run to BCH will be at its end on the day of the hardfork (or some days later). That´s what I expect.
Till the hardfork the price could trade within 1.300$ and 1.500$ with a peak on may 15 at 1.750$ (fib retracement 38.2%).
In the days after the price could fall to its fair value - which I see far below - perhaps at 1.050$ (swing trend line). This depends on the sentiment of the whole market.
So, in my opinion one can trade this possibity to its maximum but should be aware of the correction - which can take part every time.
Take in consideration that any announcement of problems with the hardfork will have an impact on the price.
Personally I do not trade this speculation.
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Note
adjusted "speculative" movement till the HardforkBCH is now near the ATH and I don`t expect much gains from this level. Perhaps we´ll see some ups and downs in the next days. Keep in mind that after the Hardfork will have taken place a sell-off is probable. And this will look like a crash, because the correction other coins and token have made in the last days didn´t happen at BCH. There is now a spread between BCH and most of other coins and this gap will be closed.
Note
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Attention:there is a negative divergence between the peaks of the price of BCH and the peaks of RSI!!
This is an alarming signal that the movement of BCH will turn soon!
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