Oh What In The World Bitcoin
Over the last few days I made posts about the strong possibility for a huge bump in bitcoin and well here we go!
Bitcoin is currently up roughly 7% from yesterday while just about every other crypto is crashing and burning.
Why?
I have two ideas that I have been feeding into over the last few weeks.
ICO bans
With China and the USA both banning ICOs to buy into their really is no demand for these coins anymore. They do nothing different then bitcoin with exception to Ethereum, Litecoin Dash and Zcoin.
This has sparked a massive dump and pump back into the BTC markets.
Bitcoin Cash/Gold
Everyone got "free" money per say when bitcoin split to bitcoin cash a bit ago. Well now that we are closing in on another possible split to bitcoin gold this could be fueling the pickup of bitcoin to get more of the split crypto.
This is a double edged sward however as it destabilizes bitcoin, draws money out of bitcoin while maybe give you some bump in quick coins to sell in bitcoin gold unless you believe in it taking over. (which I don't just like we are seeing with bitcoin cash)
Well with that being said enjoy some really low cost steem!!!
This is gold rush for bitcoin forks which can end up cannibalizing each others (BCH is already down to $300 from ATH $900) and other weak altcoins. However, one of the forks will come out as winner and strong altcoin will flourish there after.
This one is fueled by you guessed it... China yet again trying to get to grips and control it instead of letting BTC be decentralized
This is what bitcoin looks like in my mind
This is the crypto world. It is full of different ideas.
Nicely summarised, but i think you could have included some more things in this article
Could have but most information is already public in detail. I have always been one for some pretty cut and dry information without all the fluff as we all have limited time.
Thanks a lot for all this info, I keep following these news and am not surprised to see this effect occurring. Good presentation again, thank you!
Looking forward to your future posts :)
bitcoin is going high and high.
Wish steem follows bitcoin.
I know why Bitcoin price going up, it's due to hard fork, which will be happening in 3rd week of October, means if you have 1 btc, you will get 1 btc gold FREE. So most people jumping to get as much btc as they can.
Yup I had the same predictions spot on caught it right in the dip.
I expect it to see it rise by 20-30% in the next few months.
Thank you for sharing this info 😁
I think that dump on altcoins is caused rather btc fork than ico bans
Check out my latest post