Bitcoin Cash rose sharply to $ 540. Should you buy BCH before hardforum?
Source:
Over the past 24 hours Cash significantly increased and reached the level of $ 540. We will remind, on November 15 in-network coins will be hardwork. While the team BCH there are some differences, it was even divided into two opposing camps (ABC Bitcoin and Bitcoin SV). Representatives of the largest Binance said that they would support the version of the fork from Bitcoin ABC.
theWhy is BCH
November 3, Coinbase released an official statement about the support of roadmap Bitcoin Cash bitcoincash.org.
The Bitcoin Network Cash passes through hardwork twice a year according to the schedule update Protocol. The following hardwork will happen on 15 November 2018, and Coinbase is willing to support the roadmap coins posted on bitcoincash.org. However, this time there was a competing offer that is not associated with published roadmaps.
Historically, the major cryptocurrencies (Bitcoin and Ethereum) are almost always rising in price before coming hardforum, as holders of the coins get a free recharge in the form of crypts from another circuit (in 1:1 ratio). For example, in August 2017 BTC holders got the same amount of BCH.
Result — the growth rates of the BCH in this month associated with two factors. First, investors want to participate in «the distribution of freebies». Secondly, more and more exchanges start supporting the roadmap of the project.
image Source — CCN
Presumably, the Bitcoin Cash will continue to grow until the hard forks. In this situation, it is possible to buy the BCH, but with caution. Do not forget about stop-losses. But on 15 November may be a dump, as now, the cryptocurrency grows according to the rule «buy the rumor, sell the news».
Whether to Continue bullrun after hard forks? Hard to say, everything will depend on the results of the procedure itself and Bitcoin. If the main cryptocurrency also begin to grow before bidding on , altcoins will go up slowly.
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