For a number of times, I was busy refreshing my browser in order to see if the Bitcoin Cash Hardfork 2018 had finally taken place. Just as we announced 2 days ago, it finally took place yesterday.
Before I tell you how I got X2 of my crypto coins after bitcoin cash Hardfork 2018, I am of the opinion that the just-concluded event is not a good one for the crypto community.
In fact, a big-time crypto trader Steve stated it this way,
Let’s Unite together and dump the scammers BCH. They affected the whole market. They are totally making market dirty.
We must throw them out of crypto. Dump BCH.
And never buy that shitty BCH again.
Crypto must be clean. Else they will again ruin it in Future. So just Boycott Bitcoin cash.
Yet again, another writer known as Big T called it the “Nerd War”. Highlighting the event, he affirmed that the cause of Bitcoin price drop was due this division in the community.
For me, without doubts, the above is one of the reasons Bitcoin and Crypto is considered a scammy coin which the proofs are worth to see.
Going further, he pointed out that Bitcoin fell from $6,434 last Monday to a low of $5,358 on Thursday—a 16.7% drop. The entire crypto market is down about 20% over that span.
The reason from his findings is that a major bitcoin holder threatened to crash the price over a contentious “fork” involving the crypto Bitcoin Cash.
And without doubts, you know him, right? The Roger Ver’s opposition – worth more than $4 Billion in Bitcoin.
THREE SIGNIFICANT BITCOIN PRICE DROPS
Big T recalled three significant Bitcoin price drops which were:
• In January 2017, bitcoin dropped from $1,173 to $821.
• In February 2017, bitcoin dropped from $1,066 to $962.
• In March 2017, bitcoin dropped from $1,271 to $911.
While it is true that no one had ever seen anything like the ﬁrst “Nerd War” before… And there was a massive loss of conﬁdence in the market.
But once the dust settled, bitcoin recovered and shot up to nearly $20,000 by the end of the year.
The difference today is that investor sentiment is very poor… so it doesn’t take much for people to panic and sell.
In addition, more people hold crypto today than in 2017. That’s causing even more downside volatility.
So, the big question is, what should be your position today?
In his words, our position is the same as we had last year: Ignore the nerd war and volatility. It will blow over and ultimately make bitcoin—and crypto in general—stronger.
All right, I believe the above has given us some degree of confidence about this whole foul cry of domination.
HOW I GOT X2 OF MY CRYPTO COINS AFTER BITCOIN CASH HARDFORK 2018
Well, this was not a logic or sought of. I identified and took action over an opportunity which I highlighted for all of us.
To cut the long story short, my Bitcoin Cash turned to Bitcoin Cash ABC and Bitcoin Cash SV.
I Wasn’t Happy All That?
I looked at the two newly forked coins and I noticed an exact volume of my last Bitcoin Cash but same Bitcoin value. Which means there is nothing that really changed about my asset value. Boring Hardfork. 🙁
Did You Miss It?
No need to worry much if you did miss it because I had expected an X2 of my Bitcoin Asset. 😳
The Listed Cryptocurrencies That Supported The HarkFork
In all thy getting, get insight and apply thus.
If you want to avoid being scammed as I was on a crypto exchange, use only credible crypto exchanges near you – in your country.
Now, we listed all the top cryptocurrencies exchanges that supported the Bitcoin Cash fork. So, if you had taken action, you want to log in and retrieve your newly forked coins.
Since I used Binance which you can see here, I will bring to you the summarized notification they gave out to all her users – on their website.
Binance Has Distributed Bitcoin Cash ABC (BCHABC), Bitcoin Cash SV (BCHSV) and Will Open Trading
Binance has completed the distribution of both Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV) to all eligible users.
BCHABC and BCHSV balances were each distributed to users in a ratio of 1 BCC = 1 BCHABC and 1 BCC = 1 BCHSV, based on the snapshot of all Bitcoin Cash (BCC) balances taken at 2018/11/15 4:40:00 PM (UTC).
Binance will open trading for new BCHABC/BTC, BCHABC/USDT, BCHSV/BTC and BCHSV/USDT trading pairs at 2018/11/16 8:00 AM (UTC).
All prior BCC balances have been removed from user accounts and all BCC trading pairs have been delisted from the exchange.
WHERE CRYPTO IS HEADED TODAY
Below are some determining points against the en masse adoption and credibility of Bitcoin and the entire cryptocurrency space.
#1. The Launch Of Bakkt In December.
It’s the global digital asset exchange being put together by the Intercontinental Exchange, owner, and operator of the New York Stock Exchange.
When launched in December, Bakkt will provide institutional money managers with custody solutions and a regulated, secure platform.
#2. A New Partnership Between TD Ameritrade Crypto Exchange Erisx.
ErisX will be similar to Bakkt. TD Ameritrade has over 11 million funded customer accounts with $1.2 trillion in assets under custody.
The above two comes from the back door of ETF vs the SEC. You can see more about it.
How to get help immediately?
#1. Hold your coins very well, & if you are struggling doing so, Let these 5 crypto Animals show you how to.
Let your hope be alive because this is just the genesis of cryptocurrency. But as for the newly forked coins, you may want to ignore them (Bitcoin Cash’s children – if you want).
Like I stated before, let the crypto whales fight it out. Regardless of who wins, we’ll see bitcoin soar again.
Where to start from?
The next post coming up?
You will get 16 Skillful Questions To Ask & The Best Strategies To Choose Top Cryptocurrencies To Invest In.
Why is the article important?
Because you will be able to discern if the newly forked coins and others are worth it – to hold.