We had a glimpse of the flippening on 12 Nov when the ATH for BCH reached $2800. There were many people who really believe that the flippening was really going to eventuate. You could olfactory holding the fear. Well equally they nation " You ain't seen null yet". To explicate it all nosotros stimulate got to enlist the aid of some chartist. Like me, most of you, are non hateful solar daytime traders in addition to hence volition stimulate got real trivial agreement of Elliot moving ridge theory, but would simply similar some inkling of how events are going to play out inwards the adjacent few days.
1) What nosotros know
a) BCH upgraded to a novel EDA which simply activated at block 504031. The wild gyrations inwards difficulty should live a matter of the past times in addition to miners volition live to a greater extent than incentivise to remain mining on the BCH chain. This time, in 1 lawsuit the BTC chain come upwardly into the orbit, of the expiry grip, of the Chain Death Spiral, they volition non live "rescued" past times a BCH difficulty adjustment.
b) Many people wanting to sell BTC to buy BCH stimulate got their transactions stuck inwards the huge mempool backlog at in 1 lawsuit at 114 MB. God solely knows how much sell pressure level is locked upwardly inwards the mempool. Just agency that when the adjacent moving ridge hits it volition live stronger than the lastly which was already a tape at most 8 Billion dollars. It was a 3rd of BCH marketplace position cap.
c) Segwit2X activation is scheduled at block 494784, some other 543 blocks or inwards simply nether iv days. Will Bitpico carry out their hope to origin mining the Segwit2X chain? Thus far, out of the 14.5 Exa hashes of mining ability available, solely 10.5 EH is mining on the BCH in addition to BTC chain combined. These iv EH when they are deployed volition live the terminal thrust sending BTC into the CDS in addition to effectively evicting it from the Bitcoin mining ecosystem.
d) BTC all the same needs 1690 blocks for the adjacent difficulty adjustment. BTC may never come across some other difficulty adjustment in addition to they volition most belike fork off the electrical flow Proof Of Work, equally proposed past times Cobra. This inwards an endeavour to continue the Bitcoin name. However it is futile, equally Bitcoin tin refer to whatever detail blockchain. It is Generic.
Even the BTC handgrip tin live alter past times exchanges in addition to wallets. Bitcoin Cash was referred to equally either BCH or BCC past times exchanges in addition to wallets but nosotros all know they hateful Bitcoin Cash. There is no register to claim a name. It is simply naming past times consensus. If BCH is the solely money left on the electrical flow POW, it volition live referred to equally Bitcoin. It contains the Genesis block in addition to all the properties that nosotros know, dear in addition to stimulate got equally Bitcoin.
e) BCH transaction volume is fast catching upwardly alongside BTC. This agency that a large chunk of institutional players stimulate got in addition to are moving over to Bitcoin Cash. It is simply impossible to utilization BTC for whatever variety of "normal business" transaction. What the minor blockers should honestly acknowledge is that if a money is non beingness used it has no value.
2) The Juicy Parts
If you lot stimulate got followed this weblog you lot belike too believe that BCH volition convey over BTC equally the existent bitcoin. To stimulate got an sentiment on when in addition to how this volition play out nosotros refer to some chartist predictions. I produce non follow chartist or hateful solar daytime merchandise but taken inwards totality alongside what nosotros know nosotros tin derive trends in addition to gain some sentiment of fourth dimension horizons.
His lastly video correctly predicted the ATH of $2800 on 12 November. Then came the correction. His long term prediction based on Elliot moving ridge theory, predicts a 3rd moving ridge peak at $3300 in addition to a 5th moving ridge peak at $4500.
Taken alongside what nosotros know, inwards iv days Segwit2X activates in addition to Bitpico may origin mining the chain. This may live the 3rd moving ridge pushing BCH toll to $3300 simply about 1.0 BTC (50% BTC marketplace position cap). This volition panic hard nitty-gritty holders to defend BTC past times pushing upwardly BTC toll in addition to selling downward BCH. That volition live the expected Elliot moving ridge correction leading into the v moving ridge force to $4500 or most 1.25 BTC. If this happens it is game over for BTC.
I don't sadvice trading into whatever of these predictions. Basically holding on to your BCH is the safest in addition to best policy. The higher upwardly scenario may live all done in addition to dusted inside ii weeks. I volition non desire to fille whatever operate of this exciting stage of Bitcoin history "for all the tea inwards China". The lastly run was memorable, was it not?
You tin read most the procedure on Segwit2X hard fork number on the flippening here.
Segwit2X Still Go - Complete Wealth Transfer
Wealth Transfer In Progress
You tin read most the Chain Death Spiral Here
Chain Death Spiral
Elliot Wave. - In my real express understanding, they are basically fractals designing in addition to are all nested inside each other. So if you lot expression deeper into smaller fourth dimension frame on the charts you lot come across the same v moving ridge pattern. On the long fourth dimension scale the 3rd moving ridge is at $3300 in addition to 5th moving ridge at $4500. From our cognition of what is happening nosotros narrow the fourth dimension frame to inside the adjacent ii weeks for the 5th moving ridge to play out. Let us come across if it is equally nosotros expect.
1) What nosotros know
a) BCH upgraded to a novel EDA which simply activated at block 504031. The wild gyrations inwards difficulty should live a matter of the past times in addition to miners volition live to a greater extent than incentivise to remain mining on the BCH chain. This time, in 1 lawsuit the BTC chain come upwardly into the orbit, of the expiry grip, of the Chain Death Spiral, they volition non live "rescued" past times a BCH difficulty adjustment.
b) Many people wanting to sell BTC to buy BCH stimulate got their transactions stuck inwards the huge mempool backlog at in 1 lawsuit at 114 MB. God solely knows how much sell pressure level is locked upwardly inwards the mempool. Just agency that when the adjacent moving ridge hits it volition live stronger than the lastly which was already a tape at most 8 Billion dollars. It was a 3rd of BCH marketplace position cap.
c) Segwit2X activation is scheduled at block 494784, some other 543 blocks or inwards simply nether iv days. Will Bitpico carry out their hope to origin mining the Segwit2X chain? Thus far, out of the 14.5 Exa hashes of mining ability available, solely 10.5 EH is mining on the BCH in addition to BTC chain combined. These iv EH when they are deployed volition live the terminal thrust sending BTC into the CDS in addition to effectively evicting it from the Bitcoin mining ecosystem.
d) BTC all the same needs 1690 blocks for the adjacent difficulty adjustment. BTC may never come across some other difficulty adjustment in addition to they volition most belike fork off the electrical flow Proof Of Work, equally proposed past times Cobra. This inwards an endeavour to continue the Bitcoin name. However it is futile, equally Bitcoin tin refer to whatever detail blockchain. It is Generic.
Even the BTC handgrip tin live alter past times exchanges in addition to wallets. Bitcoin Cash was referred to equally either BCH or BCC past times exchanges in addition to wallets but nosotros all know they hateful Bitcoin Cash. There is no register to claim a name. It is simply naming past times consensus. If BCH is the solely money left on the electrical flow POW, it volition live referred to equally Bitcoin. It contains the Genesis block in addition to all the properties that nosotros know, dear in addition to stimulate got equally Bitcoin.
e) BCH transaction volume is fast catching upwardly alongside BTC. This agency that a large chunk of institutional players stimulate got in addition to are moving over to Bitcoin Cash. It is simply impossible to utilization BTC for whatever variety of "normal business" transaction. What the minor blockers should honestly acknowledge is that if a money is non beingness used it has no value.
2) The Juicy Parts
If you lot stimulate got followed this weblog you lot belike too believe that BCH volition convey over BTC equally the existent bitcoin. To stimulate got an sentiment on when in addition to how this volition play out nosotros refer to some chartist predictions. I produce non follow chartist or hateful solar daytime merchandise but taken inwards totality alongside what nosotros know nosotros tin derive trends in addition to gain some sentiment of fourth dimension horizons.
His lastly video correctly predicted the ATH of $2800 on 12 November. Then came the correction. His long term prediction based on Elliot moving ridge theory, predicts a 3rd moving ridge peak at $3300 in addition to a 5th moving ridge peak at $4500.
Taken alongside what nosotros know, inwards iv days Segwit2X activates in addition to Bitpico may origin mining the chain. This may live the 3rd moving ridge pushing BCH toll to $3300 simply about 1.0 BTC (50% BTC marketplace position cap). This volition panic hard nitty-gritty holders to defend BTC past times pushing upwardly BTC toll in addition to selling downward BCH. That volition live the expected Elliot moving ridge correction leading into the v moving ridge force to $4500 or most 1.25 BTC. If this happens it is game over for BTC.
I don't sadvice trading into whatever of these predictions. Basically holding on to your BCH is the safest in addition to best policy. The higher upwardly scenario may live all done in addition to dusted inside ii weeks. I volition non desire to fille whatever operate of this exciting stage of Bitcoin history "for all the tea inwards China". The lastly run was memorable, was it not?
______________________________________________
Segwit2X Still Go - Complete Wealth Transfer
Wealth Transfer In Progress
You tin read most the Chain Death Spiral Here
Chain Death Spiral
Elliot Wave. - In my real express understanding, they are basically fractals designing in addition to are all nested inside each other. So if you lot expression deeper into smaller fourth dimension frame on the charts you lot come across the same v moving ridge pattern. On the long fourth dimension scale the 3rd moving ridge is at $3300 in addition to 5th moving ridge at $4500. From our cognition of what is happening nosotros narrow the fourth dimension frame to inside the adjacent ii weeks for the 5th moving ridge to play out. Let us come across if it is equally nosotros expect.
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