Crypto Traders from Asia Continue to Buy Bitcoin Cash (BCH) Before The Fork, Getting 1:1 Ratio Split

2018-11-14 22:42

The dreaded Bitcoin Cash (BCH) fork is upon us. However, some Asian investors seem to be certain that the upcoming fork will be good for them and betting that the sum of the parts will benefit them. Because of this, they are buying a lot of BCH now.

This Thursday, November 15, the fork will happen. If you have one BCH, you will have two different “Bitcoin Cash” tokens afterwards, ABC and Satoshi Vision (SV). The gamble from these investor is that they believe that the two tokens together will be more expensive than what BCH is now.

James Quinn, the head of markets at Kenetic Capital, spoke to Coindesk about the phenomenon. According to the expert, many people are using this new opportunity to make some money and even some institutions are seeing this as a great chance to profit. He says that while hard forks are unique to cryptos and are still very new, some more traditional investors are interested.

They can use their knowledge about how the market works to focus on understanding how this new world also works and getting a good profit with it. According to him, there are many similarities between this process and something that these investors are more accustomed to like special dividends and stock splits.

As a result from all of this, he affirms that Kenetic, which is based in Hong Kong, is seeing a high increase in the buy of BCH assets which are selling like crazy.

Data from CoinMarketCap shows that the trade volume of BCH is increasingly going up since early November. In November 4, for instance, it was about $1.4 billion USD daily while it was only $228 million USD in November.

While the sales have somewhat declined at the time of this report, they are still considerably higher than they were in October, which proves that the trend is, indeed, very real.

While many exchanges did not publish any specific data about the sale of BCH tokens, OKEx has affirmed that the trading of BCH went up tenfold and that traders are largely very excited about the fork and the possibility to make money with it.

Another aspect that can be seen is that people are not scared of the fork. Institutional investors, which tend to be more wary of risky investments, are in for the trade, which means that they believe that Bitcoin Cash will survive in the future and that one (or both) of the tokens will get out of the fork stronger.

A representative from Huobi has also tried to explain the situation. He affirmed to Coindesk that “it’s about getting free candies”. People are happy because they will double their assets. There is some risk involved because they are not sure whether the prices will go down, but they are betting that they will not.

The First Real Hard Fork

When you look at the recent past of Bitcoin Cash (which was created via a hard fork from the original Bitcoin Core in August 2017), the company is having a hard fork roughly each six months. However, the previous one was very uneventful while this one has the potential to basically rip the whole BCH community apart and create a new set of problems for the investors.

The main issue now is that the two sides are actually very powerful. In one side, we have Bitcoin ABC, which will keep the structure of the block size at 32 MB and the other initiative, called Satoshi Vision (SV), is being led by Craig Wright, a very polarizing figure that has already claimed that he is Satoshi Nakamoto, for instance, and plan to increase block size up to 128 MB.

ABC is backed by Bitmain while Bitcoin SV is largely backed by nChain and CoinGeek. While it looks like ABC will be more popular and Wright has been making very weird declarations lately (like saying he is Satoshi) that are not helping him, it would be foolish to discard Bitcoin SV so soon.

There Are Very Real Risks

Despite how hyped the market seems to be about the upcoming fork, there are some clear risks involved in trading BCH now and buying a lot of it. Quinn has affirmed that there is the chance that some big investors are just enjoying the market now and that they will pull out before the fork.

Less cautious investors might wait too much and end up losing money because they are hyped. It’s just like a pump and dump scheme of sorts. Because there is going to be an event, you pump the asset until it gets very high and then some smart investors just sell off their assets while their price is still at the peak.

Some institutional investors might be wanting to surf on this rise and will not actually invest until the fork happens, which might even affect the price of the tokens soon after the fork. It’s hard to know before it happens, though.

When Bitcoin Cash detached from Bitcoin Core, investors also made a bet, but it is important to remember that times were different back then and that the bear market is on now.

People investing in these assets now need to know that they are facing real risks and that things might not be so great as they were back then.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cashcoin (CASH) на Currencies.ru

$ 0.0004289 (+0.63%)
Объем 24H $2
Изменеия 24h: -19.83 %, 7d: -30.46 %
Cегодня L: $0.0004262 - H: $0.0005443
Капитализация $22.93k Rank 999999
Цена в час новости $ 0.0029892 (-85.65%)

fork bch bitcoin cash good sum parts

fork bch → Результатов: 126


Фото:

Ripple’s XRP Initiates Bull-Run: Returns Above $0.5000

Following Bitcoin Cash’s [BCH] very successful weekend performance concluding the week with over 30 percent increase, it is XRP’s turn to take the cryptocurrency’s market wheel. Read:  Bitcoin Cash [BCH] Stellar Performance Leaving Leading Coins [XRP ETH BTC] in Dust or Bitcoin Cash (BCH): More than Just Hard Fork Hype? The speedy coin, ranked third largest […] The post Ripple’s XRP Initiates Bull-Run: Returns Above $0.5000 appeared first on Ethereum World News.

2018-11-6 06:03


Coinbase Joins Binance In Support For Impending Bitcoin Cash (BCH) Fork

Bitcoin Cash To Fork On November 15th Although the crypto community has one goal, and one goal only — to usurp the powers that be — certain controversial factions within this budding industry remain more divided than ever before, failing to come to a consensus regarding the future of a certain blockchain, the Bitcoin Cash […] The post Coinbase Joins Binance In Support For Impending Bitcoin Cash (BCH) Fork appeared first on Ethereum World News.

2018-11-5 00:08


Фото:

Gemini And Bittrex Add Bitcoin Cash (BCH) Fiat Support Amid Bitmain Pump

Bittrex And Gemini To Both Add BCH/USD Trading Pairs Bitcoin Cash (BCH), the controversial Bitcoin fork, has been seeing its time in the public spotlight over the past few days, with a series of news and developments pushing the price of this crypto asset sky-high, or ‘to the moon’ as some optimistic traders would like […] The post Gemini And Bittrex Add Bitcoin Cash (BCH) Fiat Support Amid Bitmain Pump appeared first on Ethereum World News.

2018-9-28 06:41


Фото:

‘Real Risk’: Blockstream Exec Warns Over Bitcoin Cash 51 Percent Attack

Bitcoin Cash (BCH) average hashrate over the past week has fallen below 8 percent of Bitcoin’s (BTC), while Blockstream compares the altcoin to a five-year-old Litecoin hard fork.   Feathercoin? Is That You? In comments on Twitter today, Blockstream VP solutions lead Warren Togami sounded the alarm over BCH — warning its low average hashrate placed investors at risk of double spend attacks from malicious parties.

2018-9-4 16:00


Стресс-тест пройден: за сутки сеть Bitcoin Cash обработала 2 млн транзакций

1 сентября в сети Bitcoin Cash был проведён стресс-тест, в ходе которого за 24 часа майнеры обработали свыше 2 млн транзакций. В результате суточный объём BCH-транзакций превысил рекордные значения, достигнутые в сетях Ripple (1,7 млн) и Ethereum (1,2 млн).

2018-9-3 20:13


Сеть Bitcoin Cash была подвергнута стресс-тесту. Обработано 2 млн. транзакций

В субботу, 1 сентября, сеть Bitcoin Cash (BCH) была подвергнута стресс-тесту, в ходе которого майнерам удалось за сутки обработать более двух миллионов транзакций. Об этом сообщает Bitcoin. com. Таким образом, в течение последних суток объем BCH-транзакций превысил аналогичный показатель Ripple (XRP) и Ethereum (ETH).

2018-9-2 13:10


Стресс-тест: сеть Bitcoin Cash обработала за сутки 2 млн транзакций

В субботу, 1 сентября, сеть Bitcoin Cash (BCH) была подвергнута стресс-тесту, в ходе которого майнерам удалось за сутки обработать более двух миллионов транзакций. Об этом сообщает Bitcoin. com. Таким образом, в течение последних суток объем BCH-транзакций превысил аналогичный показатель Ripple (XRP) и Ethereum (ETH).

2018-9-2 11:16


Craig Wright challenges Bitmain CEO, Says Bitcoin Cash a split and not a fork of Bitcoin

There has been debate in some quarters among the major shareholders of bitcoin cash(BCH) a fork of bitcoin that is also known as ABC, which came into existence in August 2018, after the scalability challenge of bitcoin and the high gas fees paid to miners resulted in this fork with larger block size and cheaper […] The post Craig Wright challenges Bitmain CEO, Says Bitcoin Cash a split and not a fork of Bitcoin appeared first on ZyCrypto.

2018-9-1 20:12


Фото:

Roger Ver: Bitcoin Cash (BCH) Is “The Best From An Investment Standpoint”

For the better part of a decade, Bitcoin (BTC) has sat at the forefront of the cryptocurrency industry, continually proving itself that it is a reliable project to invest your time and money in. But for proponents of Bitcoin Cash, the crypto that spawned out of August 2017’s hard fork of the Bitcoin chain, BCH […] The post Roger Ver: Bitcoin Cash (BCH) Is “The Best From An Investment Standpoint” appeared first on Ethereum World News.

2018-8-28 03:24


Bitcoin.org Co-Owner Launches ‘Cobra Client’ BCH Node Software To Avoid Bitcoin Cash Civil War

One of the most controversial figures in the Bitcoin community, Cobra Bitcoin just revealed that he is launching a new full node Bitcoin Cash client called “Cobra Client.” He claims that the Bitcoin Cash full node implementation will be ready before the hard fork scheduled for November 15. Announcing Cobra Client: a safe implementation of […]

2018-8-25 19:47