This isn't really analysis, because all you can see is a dramatic selloff for no logical trading purpose. This is right after Dr. Wright, "Satoshi" or "Fake Satoshi," said he was going to fund his hash war against BCHABC by selling BTC for USD.
I see people look at the hashrate, then look at the market, and they say "HA! BCH ABC has already won." Wrong. BCH is using forced hash, borrowing hashing power from BTC.com (Miners mining Bitcoin). They are reliant on "forced hash," in which miners trust pool operators to direct mining to what's profitable, yet the pool miners are directing the hashpower to mining BCHABC which is mining at a loss. This means BCHABC is manipulating the market and stealing from miners. SOUNDS LIKE A SOLID LONG TERM PLAN.
Dr. Wright, of BCH SV, knows full well that his hashpower is mining at a loss, hence the "having to fund with BTC." His goal is to kill BCH ABC and make Bitmain, the near-monopoly on ASIC miners, bleed money trying to prop up the hashrate on BTCABC.
Advice? Short everything or get the hell out of the market until the hash war is over. If you think ADA or BAT or something else is cheap now, if BTC falls to $1000 or lower, Altcoins are going to be a bloodbath.
Or, this selloff has nothing to do with the Hash War and our kids are about to have a bad Xmas regardless.
I see people look at the hashrate, then look at the market, and they say "HA! BCH ABC has already won." Wrong. BCH is using forced hash, borrowing hashing power from BTC.com (Miners mining Bitcoin). They are reliant on "forced hash," in which miners trust pool operators to direct mining to what's profitable, yet the pool miners are directing the hashpower to mining BCHABC which is mining at a loss. This means BCHABC is manipulating the market and stealing from miners. SOUNDS LIKE A SOLID LONG TERM PLAN.
Dr. Wright, of BCH SV, knows full well that his hashpower is mining at a loss, hence the "having to fund with BTC." His goal is to kill BCH ABC and make Bitmain, the near-monopoly on ASIC miners, bleed money trying to prop up the hashrate on BTCABC.
Advice? Short everything or get the hell out of the market until the hash war is over. If you think ADA or BAT or something else is cheap now, if BTC falls to $1000 or lower, Altcoins are going to be a bloodbath.
Or, this selloff has nothing to do with the Hash War and our kids are about to have a bad Xmas regardless.