Bitcoin Rebounded Strongly From 5427

BTCUSD rebounded strongly from the bottom support trend line of the price channel on the daily chart after a sharp drop from 7887, suggesting that the bitcoin price remains in the uptrend from 1812. As long as the channel support holds, the fall from 7887 could be treated as consolidation of the uptrend and further rise could be expected after the consolidation.


On the 4-hour chart, the bitcoin price extended its upside movement from 5427 to as high as 6888, facing a support-turned-resistance level at 6900. Above here could trigger further bullish movement towards 7887 previous high resistance. A breakout of this level will confirm that the uptrend has resumed, then next target would be at 9000. If the Bitcoin price fails to breakout of 7887 resistance, sideways movement in a trading range between 5427 and 7887 could be seen to follow.


Near-term support is at 6175, a breakdown below this level could bring the price back to the bottom of the channel and test 5427 support. Below here will indicate that lengthier correction for the long-term uptrend is needed, then the following correction pullback could take price back to 4600 or even 3000 area.

Technical levels

Support levels: 6175, 5427, 5020, 2970.

Resistance levels: 6900, 8000, 9000.

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 15/11/17

Bitcoin Cash – Steadier but not out of the Woods

It’s been a better start to the day for Bitcoin Cash, which looks to be in recovery mode from Tuesday’s fall to sub-$1,300 levels.

As things stand it looks like the two camps have made their moves, with the supporters of the cancelled SegWit2X fork siding with Bitcoin Cash, the shift having pulled back Bitcoin as news hit the wires of the cancellation last week.

While the support remains in place for Bitcoin Cash, it looks to be a far different story when taking a look at Bitcoin Gold. The decline in Bitcoin Gold is certainly a cautionary tale for investors looking to jump on the Bitcoin bandwagon. Hard forks and blockchain splits that result in new cryptocurrencies does not always guarantee exponential gains.

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Bitcoin Cash was the first offshoot from Bitcoin and the gains are likely to be sustained, though the unknown will be what impact the SegWit2X fork would have had on support for Bitcoin Cash. What might have been…

At the time of writing, Bitcoin Cash was up 2.93% at $1,289.7, easing back from $1,320 levels hit earlier in the day. We will expect volatility to continue to persist through the day, with any moves to below $1,270 likely to lead to a more material decline. Despite early gains, the outlook remains bearish and Bitcoin Cash holders may begin to ponder on whether the rally as now come and gone as prices continue to fall well short of the weekend high.


Litecoin Looking to Break Free

There’s been some progress for Litecoin, which has managed to pull away from the $60 mark, currently up 1.36% at $63.19.

The fact that Litecoin has managed to break free of the ball and chain that had left it range bound since the mid-October rally, suggests that there may be more upside on the horizon, though how far a rally will be allowed to run remains to be seen, with Litecoin likely to face selling pressure as it moves through the $70 barrier.

The dip buying continues to be an issue for Litecoin and others and until there is stronger support at current levels and more sustained moves northwards, the trend will likely continue over the near-term.

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Litecoin holders are likely to sell-out should there be a move to the lower end of recent ranges, which would then really test those holding on, with upper ranges likely to come down further.

At current levels, it looks relatively positive for the day ahead, though there’s unlikely to be a breakaway rally.

LTCUSD 151117

Ripple – Still in a Rut

Ripple’s coming in behind Bitcoin on the day on the performance side, up 2.73% at $0.20920 at the time of writing. Despite the gains, there seems to be little buying interest and Ripple has barely made a splash since its October rally.

Litecoin and Bitcoin cash have had more noteworthy moves in the last week, suggesting that interest for Ripple remains limited for now, buyers finding stronger gains elsewhere.

Despite the stuck in the mud feeling, any moves beyond the top side of the range could see Ripple make a move towards $0.30 levels, beyond which there will likely be strong resistance. Should we see current ranges persist, Ripple could well fall back towards $0.18 before support kicks in.

As things stand, Ripple looks like it’s ready to break out though whether a sustained rally is on the cards remains to be seen as buyers look to take profits rather than take a longer term hold.

XRPUSD 151117

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Bitcoin and Ethereum Price Forecast -Prices Begin to Gain Traction Again

The bitcoin prices continue their recovery from their lows and are now trading comfortably above the $6800 region and looking good for more. As we have been seeing many times over, the prices have always tended to bounce back from the lows even during the worst of times and we are seeing a similar price action this time as well as the bounce continues from below the $6000 region and now it threatens to break through the $7000 region as well. This has happened in a matter of a few days as the effect of the cancellation of the hard fork and the effect of the migration of miners and investors begins to wear off.

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Bitcoin Prices Continue Higher

Of course, the fact remains that the traders are still a bit jittery about what the future holds for bitcoins. The stakes have become simply too high for bitcoins to fail in the medium or long term but at the same time, the network continues to be in the hands of a select few at this point of time and the effect of that is beginning to show through. So far, there has been consensus among them which has helped the network to survive but as the industry grows, we are seeing cracks beginning to appear among them and this is not only affecting them but the bitcoin industry and the network as a whole is being affected.

Bitcoin 4H
Bitcoin 4H

The Ethereum market has clearly picked up some traction since the cancellation of the bitcoin fork and it shows that some of the miners and the investors could have migrated to this network in the hope of better stability and returns as well. The prices are now trading above the $330 region and seems to be moving in tandem with the bitcoin prices at this point of time.


Looking ahead to the rest of the day, we expect the price recovery in bitcoin and ethereum to pick up steam in the short term and considering the pace of the price moves in the ETH market, it should not be a surprise if the ETH prices begin to hit the $400 region pretty soon.

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Bitcoin Price Stable, Bitcoin Cash Rises Again

The price of Bitcoin began to display signs of stability on Tuesday after a massive drop that erased 29%, or $38 billion, from Bitcoin’s total market value. The virtual currency began recovering yesterday as traders worried that the quick and sharp decline may have been an excessive response to the cancellation of a long-awaited technical Segwit2X upgrade.

Bitcoin was seen moving near $6,400 today after falling from $7,838 on Wednesday to $5,580 on Sunday. The price crash happened as investors rushed to move their capital to other rival virtual currencies. One such rival is Bitcoin Cash, which split from the original Bitcoin back in August, has climbed about 19% since Friday.

The crash followed the cancellation of an upgrade that would have increased the size of each block on Bitcoin’s blockchain network. A bigger block size allows more transactions to be carried out at the same time, which reduces transaction fees and increases speed.

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A similar upgrade has already been incorporated into Bitcoin Cash, which gave the alternative cryptocurrency popularity and strength following its lunch. Meanwhile, the upgrade to the Bitcoin network was called off after an important faction of the cryptocurrency community withdrew its support. The sudden upgrade cancellation resulted in strong volatility and extreme price movement even by Bitcoin’s standards.

Bitcoin investors now are left with two choices. The first choice is to stick to the original Bitcoin, which uses SegWit technology to move unessential data off the underlying blockchain. The second choice is to move to Bitcoin Cash, which uses a block size that is eight times bigger than the original Bitcoin. The choice many investors appear to be making today is the first.

Bitcoin’s price was quick to recover over 13%, or $10 billion, during yesterday’s trading. Bitcoin’s total market capitalization currently stands at $102 billion, which makes it hard for investors and fund managers to resist the digital asset. Demand for the currency remained high following regulatory moves and increased investment accessibility, like CME Group’s recent plans to offer Bitcoin futures contracts.

BTC/USD is trading at 6398, down 1.26%. Bitcoin Cash is trading at 1331, up 15.15% as of 13:20 GMT today.

This post was originally published by EarnForex

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Who Remembers 2013? Bitcoin’s First Amazing Bull Run

For me, 2013 has long stayed in my memory as a year that affected me personally – a year where one key event impacted me directly. Looking back on it now though, it seems that there are several things that occurred that year, which is now repeating.

Firstly, Obama was sworn in for his second term in the big job, whereas this year we have seen another POTUS also get sworn in. Secondly, North Korea’s 2013 nuclear test caused international outrage, if not the heated exchanges of words we’ve seen this year. We also had a number of catastrophic storms back in 2013 with the tornado in Moores, Oklahoma being particularly devastating.

However, there are two things in particular that come to mind that look like a direct repeat of 2013. One is the approaching potential shut down of the US Government in December. The second is the incredible bull run of Bitcoin.

2013: the first year of Bitcoin

In 2013, Bitcoin, the now infamous cryptocurrency was only five years old. This was the time it first started to gain real attention from the market. In January 2013, Bitcoin was trading around $12.15 per coin and hadn’t yet shown up on anyone’s radar. Then a financial crisis occurred in March which kickstarted an incredible run for the remainder of the year.

In March 2013, a financial crisis gripped the small Mediterranean island of Cyprus. The country was forced to request a $13billion bailout from the European Union and the International Monetary Fund. The terms of the rescue package were that Cyprus Central Bank had to raise $7.5 billion by taxing bank deposits.

Cash restrictions on the populous were implemented to avoid a potential bank run and large depositors ended up losing as much 10% of their held capital. One of the major retail banks was forced to close and banks across the country were closed for a number of weeks. I live in Cyprus and it wasn’t pleasant.

Despite Cyprus having a population of fewer than one million people, these events caught the attention of the media all over the globe and the island was in many a headline. Interestingly, it also caused people to take note of the potential of Bitcoin. Due to what had happened with the Cypriot Banks, Bitcoin started to gain in popularity due to the fact that it was unregulated and no government or bank could touch it.

At the beginning of March 2013, Bitcoin was trading at around $32.20 per coin. By the end of March, following the Cyprus crisis, it had risen to $90.52 per coin. It continued its move higher over the course of April, touching an all-time high (of the time) of $234.52. During the following months, it traded between a low of $66.83 and a high of $196.24.

Then, suddenly, in November 2013, Bitcoin exploded. Bitcoin opened the month at $194.42 per coin. By the end of the month, it closed at a huge $1,113.06 per coin. 2013 for the first time was hailed as the year of Bitcoin. 2017 can challenge this year.

The following month, Bitcoin went on to hit a new high of $1,242 per coin due to increased demand from consumers in China – until the Chinese Government thought enough was enough and stepped in and barred all banks from handling Bitcoin transactions. After that intervention, and a number of high profile court cases and rumors of hacks, Bitcoin collapsed, hitting a low of $100.91 per coin in August 2014.

However, that is the lowest it went. From there, over the next two years, it traded fairly sidewards until January 2017 – and we all know what has happened since then!

Now the question to ask, of course, is: Will we see a repeat of what happened at the tail end of 2013? First of all, like 2013, we’ve had further intervention by the Chinese authorities and other governments. However, as yet it hasn’t stopped this year’s incredible bull run. We’ve also seen many voices crying out “bubble” and “scam,” but again Bitcoin traders have brushed this off. The biggest difference between this year and 2013 is that, despite the skeptics, we’re now seeing some real players in the market start to embrace Bitcoin, with the CME Group the latest exchange to announce its intention to launch bitcoin future contracts.

So will we have a reversal with Bitcoin like we saw at the end of 2013? Only time will tell for sure. However, as long as the interest in this cryptocurrency continues, the chances that Bitcoin could keep on rising may remain intact.

This article was written by James Trescothick, a Senior Global Strategist at easyMarkets

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 14/11/17

Bitcoin Cash – Under Pressure

Following a choppy session on Monday, which came in response to the surge in price from sub-$300 levels, volatility remains though Bitcoin Cash’s price has managed to consolidate from the more than $1,000 slide from Sunday’s peak.

The slide would have put the brakes on buyers coming in and with the price currently hovering at $1,200 levels, having hit $1,500 in the early hours, there will be concerns over whether price stability will prevail.

At the time of writing, Bitcoin Cash is down double digits in the early part of the day. Investors may be eager to jump in to avoid missing out on a Bitcoins rally, but with so much volatility and uncertainty over what lies ahead, downward pressure will likely come from Bitcoin Cash holders looking to offload the free coins from the summer fork.

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It’s certainly a tough call on whether to go in or wait for a more material decline to sub-$1,000 levels. One worries that should the floodgates open and Bitcoin Cash holders begin to run for the hills, we could see quite a slump and that’s a significant downside risk that prospective buyers will need to consider through the day.

Bitcoin Cash stood at $1,225 at the time of writing, with the price volatility reflective of investor uncertainty over the near-term. In contrast, Bitcoin has made steady and sits up 0.6% at $6,757. While off record highs, the direction is a reflection of buyer demand, though, for those who missed out on the Bitcoin rally, price entry levels may be a bit rich.

We can expect more volatility through the remainder of the day and any attempts to break through $1,500 levels will likely be faced with stern resistance, with a bias towards the downside for the day.


Litecoin Holds stands it’s ground for now

Litecoin continues to hover at around the $60 mark having recovered from sub-$59 levels on Monday.

Uncertainty continues to pin back gains, with Bitcoin’s price collapse fresh in the minds of wannabe investors, despite Litecoin sitting well off mid-October’s run at $100.

While Litecoin seems to be treading water at the time of writing, down 0.85% at $60.72, we would expect there to be strong support at $59, though for now, any moves into $70 levels will likely face strong resistance.

There seems to be a lack of conviction that another strong rally is the horizon over the near-term, which has pinned back a hope of a rally. This is unlikely to change through the day.

LTCUSD 141117

Ripple – Stuck in a Rut, but for how long?

At the time of writing cryptoworld order seems to have returned. Bitcoin (BTC) has found its legs and Bitcoin Cash (BCH) is in the line of fire.

Ripple has had a good start to the day, moving to $0.20 levels though Ripple seems to have been stuck in a rut. For a more sustained rally, it will need to break free of its 2-week high of $0.2174 and break beyond $0.22.

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Ripple holders may well be on a dip buy cycle, buying at sub-$0.20 and looking to offload at around the $0.22 level, which it has failed to break above since mid-October.

At the time of writing, Ripple is up 0.78% at $0.2019, with any further upside likely to be tested through the day, though we wouldn’t expect any declines below $0.19.

XRPUSD 141117

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Bitcoin and Ethereum Price Forecast – BTC Prices Claw Their Way Higher

The bitcoin prices are on the path to recovery once again after falling by more than 20% over the weekend on the back of the cancelled bitcoin hard work. This crash was followed by the migration of many miners and investors to the alternative bitcoin cash market which accelerated the drop in the bitcoin prices and in turn hiked the prices of bitcoin cash which soon overtook Ethereum as the second largest cryptocurrency in terms of market cap. Though this is clearly a setback for the main bitcoin market and shows how the market and traders are still uncertain about stability of the network and the industry as a whole.

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Bitcoin Prices Reach $6600

The bitcoin industry has faced a quite a few roadblocks and challenges this but this setback is of a different kind as it is more of their doing rather than any authority putting up the block and that is why it is even more difficult to deal with. The bitcoin insiders really need to find a way out of this mess that they appear to have created by cancelling the fork and keeping the markets guessing. Not only does it affect the confidence of the market, it also places the industry at risk as no one seems to be clear on how future expansions to the network, which is key for growth, would be handled. So far, the prices have managed to claw their way back to $6600 but it remains to be seen how soon the prices would return back to their highs.

Bitcoin 4H
Bitcoin 4H

The fall in the prices in BTC have helped the other cryptos to gain more attention and this has been helping them to move higher. The effect of this can be felt in the ethereum market as well as the ETH prices have been rising since the cancellation of the fork and now trades just below the $320 region as of this writing.


Looking ahead to the rest of the day, we expect some consolidation in both the BTC and ETH markets for the day as the traders adopt a wait and watch approach to see how the situation develops in the short term.

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Bitcoin Hits Another Bump along the Road

Just when investors thought Bitcoin prices were about to go into orbit, it seems to have hit another bump in the road. It was quite a big hole – and this week had many nervous investors running for cover. We think it is safe to come back out now.

Bitcoin Daily Chart
Bitcoin Daily Chart

In last week’s commentary, I mentioned we may see a retracement to the previous levels of support of around $5,600 and to treat this as a buying opportunity for those who missed out in previous weeks since the rally in September.

As we can see from the chart, in the top circle, bitcoin reached the $8,000 mark, but it may have overstretched itself, and fell back to just above $7,000. The intent is there but until more investors are behind it, the force behind the momentum does not seem to be sustainable.

The bottom circle shows, quite clearly that the price bounced off of the 55-day simple moving average (gold line), which we find to be the first point of key support in any retracement scenario. Since then the price has bounced back upwards, and there is every reason to think it will keep doing so, having established support around the $5,600 area in previous weeks.

In the middle circle, the blue, 21-day exponential moving average line has, of course, stalled. This is now the new resistance line to be breached if bitcoin is to continue its previous trajectory to the $10,000 level.

In the “worst case scenario,” should bitcoin fall below both the $5,600 support level, and the 55-day simple moving average, the next major support level is at $3,600 and even this is below the psychological $5,000 level.

Given the volatility of this cryptocurrency, $3,600 is not an impossible forecast but it is very unlikely that bitcoin will fall through all of these major areas of support. We see any fall back reaching the 55-day simple moving average and the $5,600 level and even the $5000 level as further buying opportunities.

So much for the technicals then – what about the fundamentals?

Interest in cryptocurrencies has never been so widespread or keen as it is at the moment. People who had never heard of bitcoin just a couple of weeks ago are speaking avidly of it as the next “big thing.” More and more clients are asking how they can buy them.

This phenomenon will feed the momentum in the markets and give a good foundation for future growth. The continued acceptance of institutional investors (more, it has to be said, in the blockchain, than in cryptocurrencies themselves) will mean even further credibility is added to the underlying structure, and integrity, of cryptocurrencies, and bitcoin in particular, as the front-runner.

Of course, the cynics will point to the events of this week as a reason to hide from cryptocurrencies.

That bitcoin rallied 11%, trading back above $6,500 in just over half a day, shows volatility and nervousness, following the SegWit2x upgrade to the bitcoin network being called off by the developers. The uncertainty will continue in the upcoming days.

This is still a young, untried, and untested instrument. There is inherent risk in anything as complicated, and new but this is no reason to reject the possibilities out of hand. The blockchain is certainly here to stay and cryptocurrencies will be along for the ride into the foreseeable future.

A bumpy road needs good suspension…

Noble Gold specializes in IRAs and 401(k) rollovers through precious metals and cryptocurrencies investments.

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 13/11/17

Bitcoin Cash – Boomerangs from Sunday’s high

Bitcoin Cash has been on the move and it’s been a tremendous last 7-days, hitting an all-time high $2,477.65 before coughing up just over $1,000 to sit at $1,133.2 at the time of writing, down 16.8%. For a brief moment, Bitcoin’s offspring stood above Ethereum by market cap

The gains may well have come as Bitcoin investors continued to drop Bitcoin following the decision by Bitcoin’s core developers to pull support for the Segwit2X hard fork last week. Concerns over transaction speeds have left the markets pondering whether Bitcoin Cash could, in fact, become the front-runner.

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There’s a long way to go for Bitcoin Cash to catch up to Bitcoin, but if backers of Segwit2X continue to drop Bitcoin in favor of Bitcoin Cash, the gap may narrow quite quickly. Hash rate numbers support this, with reports hitting the wires that Bitcoin Cash’s hash rate has overtaken Bitcoin’s.

The sell-off from Sunday’s peak was likely to be attributed to profit taking, though the day and the week ahead will provide some more indication on whether Bitcoin cash is finding strong support or just another blip in Bitcoin’s headline domination. Bitcoin Gold’s cryptocurrency release on Sunday will have added to the mixed sentiment and possible downside to Bitcoin Cash. Investors may have also taken the opportunity to move into the cheapest of the trio. News had hit the crypto news wires over the weekend that Bitcoin Gold would be launched on Sunday.

Bitcoin Cash was free money for Bitcoin holders at the time of the fork, but with valuations now in excess of $1,000, it’s become serious money and the only question that remains is whether it can continue moving forward. Bitcoin Gold will complicate matters, but support is likely to be there through the day at $1,000 plus levels.


Litecoin Struggles for Direction

It’s unlikely to be grabbing the headlines just yet, with all the focus being on Bitcoin cash’s rally and the launch of Bitcoin Gold’s cryptocurrency. But, with one of Litecoin’s main differences with Bitcoin being the shorter time frame between adding blocks, demand could begin to rise. While Bitcoin Gold looks to become Ethereum’s main competitor, miners being able to use graphics processing units, Litecoin allows miners to use normal personal computers.

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There’s plenty going on in the cryptoworld and, following the cancellation of the Segwit2X hard fork, the appetite for Litecoin has been mixed and in the advent of Bitcoin Gold being launched, investors may well be prying for position in search of another Bitcoin sibling rally. Bitcoin Cash is also likely drawing out some Litecoin holders going into the week, following Sunday’s record run.

At the time of writing, Litecoin was recovered from intraday lows to gain 1.17% to $59.50, while coming off a Sunday high of $67.24.

LTCUSD 131117

Ripple – Low Barrier to Entry

For those looking to get into the Cryptoworld without risking the shirt on one’s back, Ripple stands out. It’s been on the ropes over the weekend, before today’s 2.9% gain to $0.19567, but when considering what Ripple has to offer, its outlook is likely to be brighter than some of its peers.

XRPUSD 131117

There are some big names behind this one and, while anchor investors such as Google, Standard Chartered, and Accenture are unlikely to be going anywhere fast, the rest have gone in search of the Dollars. We would expect Ripple to find its feet and will likely be considered attractive at current levels.

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Bitcoin and Ethereum Price Forecast – BTC Prices Crash As Uncertainty Looms

The fall of the bitcoin prices begin to take alarming proportions as the correction in the prices is now around 20% ever since the news of the cancellation of the hard fork in the bitcoin market came into view. This news was expected to have limited impact but the traders have been grossly mistaken as the prices have since crashed from the $7500 region to below $6000 as of this writing, showing how the market can be risky as well as tempting at the same time as the prices have the capacity to have huge volatility in either direction within a short period of time. The cancellation of the fork has led to doubts about how the network is going to deal with expansion in the future.

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Bitcoin Prices Yet to Find Floor

The lack of consensus among the developers in the network has led to the migration of some major investors and miners to other cryptocurrencies which are more pliable to changes and so far, bitcoin cash seems to have found a lot of favor as the prices of that have shot up by more than 200% over the last couple of days. It remains to be seen how long such a trend is going to last as the more miners migrate, less will become the significance of bitcoin and while others benefit, we could see the bitcoin prices crash further in the coming days due to this.

Bitcoin 4H
Bitcoin 4H

The Ethereum market also seems to have gained a bit due to this confusion as the weeks of choppy and weak trading has given way to some strength in the prices as the demand increases. The ETH prices trade comfortably above the $300 region as of this writing and are likely to gain more in the short term as the investors in bitcoin look for alternatives to diversify their portfolio as the see the prices of BTC fall.


It is a new week again and we are likely to continue to see a lot of action and liquidity today as the traders return from the weekend. The prices of bitcoin do not seem to have found a floor as yet and hence are likely to see some more fall in the short term. On the other hand, it is the turn of ethereum to be in the spotlight and the prices are likely to remain buoyed for the short term.

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Bitcoin Price Breaks Below $6000, Bitcoin Cash Jumps 300% in the Past Three Days

As of November 12, Bitcoin is trading below $6000. Once the SegWit2x fork was suspended, the price of Bitcoin surged to $7,999 on cryptocurrency exchange Bitfinex, before losing more than $2,000 in a matter of days.

It is worth noting that the recent rally was supported by altcoin sell-off as traders exchanged them with Bitcoin, hoping for “free coins” after the hardfork. Meanwhile, markets seemed to have too high hopes about getting something for free as developers wanted to implement only technical updates and said nothing about a new cryptocurrency. It looks like someone wanted to see Bitcoin reach even higher highs than the ones of a week ago.

On the one hand, the hardfork was meant to solve a problem with mining difficulty levels for Bitcoin Cash. On the other, though, SegWit2x’s opponents declared that its developers did not implement replay protection, asking the community to oppose the new fork. SegWit2x was also supposed to support original blockchain, 2x chain and new Bitcoin based on the PoW (Proof-of-work).

Over the past few weeks, Bitcoin Cash has attracted a solid demand worldwide. Bitcoin cash was trading in the range of $336 to $635, but since Friday Bitcoin cash prices rose to the all-time high of $2422 and currently are trading at $1829. Many investors stood to receive the same amount of coins following the fork, yet this time it seems they were unlucky.

This article is written by FxPro

Bitcoin and Ethereum Price Forecast – ETH Gains as BTC Pushed into Uncertainty

The bitcoin prices, as we had mentioned in our forecast yesterday, went on a consolidation mode, a day after the fork was cancelled. The market is still evaluating the effect and the impact of the cancellation and these uncertain times are clearly weighing on the bitcoin prices in the short term. Once the market is convinced that all is good with the network, then we are likely to see the prices rise again but we believe that the scars of the cancellation are likely to remain underneath for a while in the industry. The first couple of forks that were done during the year had passed off peacefully with no major impact but the fact that the largest fork got cancelled due to confusion and uncertainty has raised fears that all may not be well with the network.

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Bitcoin Market In Confusion

The network does need to expand periodically and hence the reason for the fork was something that everybody agreed upon. But what this cancellation has brought about is uncertainty over the forks that may arise down the line. The lack of consensus in the network should worry the traders as the subsequent forks are also likely to lead to confusion and uncertainty and this is not good for any market, especially for a market like bitcoins where a large part of the prices and liquidity are driven by speculators who can turn at the drop of a hat. It is this lack of confidence that is likely to lie underneath and eat away on the market confidence atleast until the next fork is completed.

Bitcoin 4H
Bitcoin 4H

In all this uncertainty, it is the ETH industry that seems to have gained a lot of confidence as this confusion in the bitcoin market is likely to push the traders towards other cryptos that they begin to consider as more stable and with less confusion. With ETH being the next biggest crypto, it is no surprise that the price of ETH has been increasing ever since the fork was cancelled in the bitcoin industry. The demand for ETH has clearly increased and it now seems to be on a new bullish leg which is likely to drive prices higher.


Looking ahead to the rest of the day, we expect the consolidation in the bitcoin market to continue with the region around $7000 serving as some strong support at this point of time. In the meantime, the ETH prices seem to have got a second wind and are likely to continue their rise as the demand increases.

The Best and Safest Way to Buy and Sell Bitcoins

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Market Snapshot – Bitcoin Prices Fall as Fork is Cancelled

Bitcoin Fork Cancelled

The big news of the day so far has been the cancellation of the SegWit2X hard fork that was planned in the bitcoin industry. This fork had been one of the most acrimonious forks in the short history of bitcoins and it had led to a lot of bad blood between the different groups of bitcoin developers and in fact, some traders heaved a sigh of relief when the cancellation news came in as no one was sure about the impact of the fork and the lack of consensus was worrying as well. This has since led to a large drop in the bitcoin prices which now trades just above the $7000 region as of this writing as the traders are a bit uncertain with what has to be seen as a failure of the bitcoin network to arrive at a consensus on what is good for the network. This raises the possibility of similar failures happening in the future as well and this has led to the price drop so far.

Stock Markets Stable

Despite some upbeat inflation numbers from China, the Asian stock markets continued to trade under pressure in a weak manner and this is likely to last for the short term as the market consolidates and corrects at the same time before the next bullish leg higher. The forecast for German growth came in stronger than expected and this helped the DAX to trade in a steady manner as it awaits the opening of the US stock markets.

Bitcoin Prices Drop after Segwit2X Fork Cancelled, US Futures Point to Lower Open

Wall Street is expected to decline today upon its opening. German Trade Balance was better than expected. Inflation in China gained more than its estimate. Crude Oil is sustaining its stronger range.

Negative Opening Expected on Wall Street, No Signs of Significant Sell Off

A negative opening is expected on Wall Street following yesterday’s cautious session. The Dow Jones Industrials remains above the 23,500 level which is well within its record heights. Even as traders have proven cautious early this week, there have been no significant sell-offs of equities on Wall Street. Final Wholesale Inventories data will come from the States today, and investors will keep their suspicious eyes on Washington as tax reform debates continue to boil.

Bitcoin Prices Drop as Bitcoin Community Announced the Segwit2X Fork has been Cancelled

Bitcoin was trading with a bearish sentiment since it touched a new all-time high yesterday after the Bitcoin community Segwit2X cancellation announcement. However, since then Bitcoin trade lower and currently are trading at $7129, down 4.31% as of 12:45 GMT.

Nikkei Reversal Surprises Traders, Consumer Price Index Gains in China

The Nikkei Index reversed from its highs this morning and sold off. After putting in significant gains to start the day, the Nikkei’s sudden selling caught some traders by surprise. The Yen has gotten stronger against the U.S Dollar and is near 113.30. Inflation numbers from China were stronger than anticipated today, the Consumer Price Index gained 1.9 percent.

Solid Data from Germany Continues, Euro Firm in Early Trading

German Trade Balance numbers beat their estimate this morning with an outcome of 21.8 billion compared to the forecasted result of 21.0 billion. The improved number adds to the better than expected German Factory Orders number earlier this week. The Euro has held its ground and is trading near 1.16 against the U.S Dollar. Tomorrow Manufacturing Production data will come from Britain.

Supplies Prove Strong for U.S Crude Oil, Crude Oil Sustains Range

Crude Oil Inventories in the U.S showed an increase per its report yesterday. The commodity lost slight value upon the publication, but U.S Crude oil remains within its stronger realms as it trades under the 57.00 U.S Dollars a barrel level.

U.S Business Inventories Numbers, Weekly Jobless Claims

The weekly Unemployment Claims numbers will come from the States at 13:30 GMT and be looked at carefully to see if it provides any surprises.

  • 13:30 PM GMT U.S., Unemployment Claims
  • 15:00 PM GMT U.S., Final Wholesale Inventories

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Bitcoin – Classic Peak Behavior before a Price Fall?

Bitcoin price Spiked almost to the 8,000 mark for a short period of time on Wednesday’s New York Trading session, moving immediately back to the heavily traded range between 7,000 and 7,500.

This kind of phenomenon can be seen where a certain market is reaching to its last price peak before a significant and healthy price correction. Such activity is followed by increasingly volatile price action, including wide open price spreads between the buyers and the sellers.

Bitcoin 4H Chart
Bitcoin 4H Chart

With all that said, I wonder whether history will repeat again.

Today, the economic highlight will come out from the US, where the jobless claims numbers will be published. This event will not have a high impact on the Bitcoin price, as this market has gained its standalone psychology, that is currently disconnected from any reasonable logic.

Bitcoin is highly affected by the recent news that CME will launch Bitcoin futures and the announcement yesterday that the next bitcoin fork was canceled.

Bitcoin is trading at 7235, -2.94%, as of 10:00 GMT.

It is nice to know that:

Initial Jobless Claims give a good indication via their trend on the state of a nation’s economy. When the results are looked at on a weekly basis the results can be too unpredictable and appear volatile. However, when the number of new jobless filings have been made and examined over a period, for example including a four-week average, the outcome reflects the conditions for employment quite well. Investors look at the Initial Jobless Claims carefully and the data is an important ongoing factor for central banks when taking into consideration their monetary policy and interest rate mandates. The data results from the Initial Jobless Claims are a major component of the Leading Indicators data, which are indexed to provide investors with a good barometer of overall economic conditions. Clearly, improving Initial Jobless Claims data – meaning a decrease in the number of filings is considered a good statistical result by investors.

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Bitcoin and Ethereum Price Forecast – Prices Choppy as Bitcoin Fork is Cancelled

The bitcoin world was stunned yesterday by the sudden cancellation of the SegWit2X hard fork just days ahead of the date that was fixed for the fork to happen. The fork had been proposed by a group of developers as a measure to increase the transaction capacity of the bitcoin network. But ever since this plan was announced, there has been a lot of bad blood between this group of developers and the group of developers who are still with the main bitcoin network. The main thing that had set apart this fork from the others before it was the lack of consensus between the competing groups of developers. The other forks had the agreement of almost all the developers but this fork had been marked by a lot of bad blood in the bitcoin industry.

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Prices Shoot Higher and Then Drop Down

There was also a lot of disagreement on how the hard fork had to be done and though there was general agreement that a fork to increase the capacity was needed, the method of approach was what was causing a lot of confusion and uncertainty. The prices of bitcoin shot through towards $7800 on the back of this news as many traders viewed the cancellation as positive news but the prices have since corrected and settled back in the $7400 region as some sanity has returned to the markets since then. It remains to be seen how the market views this development as they could take it either positively and feel that it was good to have the cancellation as it removes the uncertainty. The market could also treat it in a negative manner as traders might view this as a sign of weakness and confusion in the bitcoin industry which could repeat itself in the future.

Bitcoin 4H
Bitcoin 4H

The Ethereum market has also sprung to life on this development as the prices shot through the $300 region and trade above $310 as of this writing. This development in the bitcoin industry could be positive for ethereum as it is likely that traders view ETH as being more stable and with less of uncertainty atleast in the short and medium term. This could be positive ETH and the bulls would be viewing a break of $320 as an opportunity to confirm the uptrend and go long.


Looking ahead to the rest of the day, it remains to be seen how the market is going to react to the news of the cancellation and it is better that the traders stay away for the short term and wait for some correction to happen, if it does. The ETH market is likely to trade in a buoyant manner in the meantime.

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

Gold is few dollars away from triggering a strong buy signal, Bitcoin is Bullish

Bitcoin is having too bullish factors at the same time. First one is obviously the uptrend and the second one is the ascending triangle pattern (green). In theory, that should result in the bullish breakout and in practice that is exactly what is happening right now. The way to reach the all-time highs is opened.

Gold broke the mid-term down trendline and defended it as the closest support. That is great but is still not enough to trigger a buy signal. For that, we need to see the price breaking the 50% Fibonacci, which is a crucial resistance since the 24th of October.

USDJPY on Monday had a chance to break an important long-term resistance but instead of that, the price draws a shooting star on a daily chart (long head). That triggered a short-term sell signal with the potential target on the 113.30.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

Bitcoin and Ethereum Price Forecast – Bitcoin Prices Choppy Ahead of Fork

Bitcoin prices seem to have completed their consolidation and correction period as the prices have shot back towards the $7300 region as of this morning. There has been a healthy correction towards the $7000 over the last couple of days and after a bit of consolidation in that region, we are now seeing the prices moving higher again. But traders need to be a bit careful at these levels and trade with tight stop losses as the bitcoin industry looks ahead to the hard fork next week. This fork is likely to be the biggest in the short history of the bitcoin market and hence it full impact is as yet unknown.

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Prices To Remain Choppy

The fork involves some of the major developers in the bitcoin market and the Segwit2X proposal that they have projected has not been accepted by the original set of developers and hence the new crypto that will be born through the fork is likely to bring in a lot of discontent and uncertainty in the industry. This is likely to keep the bitcoin prices under pressure in the lead up to the fork and even after the fork is done, we need to wait for a few days to understand the full impact. That is why it is important to understand the full impact before diving into another trade as any of the above events could lead to a large drop in the prices due to panic selling.

Bitcoin 4H
Bitcoin 4H

As far as the ETH market is concerned, the prices dropped towards the $280 region over the last 24 hours but like the bitcoin prices, the ETH prices have also recovered over the last few hours and trade just below the $300 region as of this writing. This consolidation and correction in the ETH market has been going on for quite sometime and is likely to continue for the short term.


Looking ahead to the rest of the day, we are likely to see an attempt at the all time highs once again in the bitcoin market while the ETH prices continue to trade in a subdued manner. The BTC prices are likely to be choppy in the short term and hence the traders need to be careful during this period.

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

The Complete Guide: Exchanges that Support Bitcoin Gold

Another Bitcoin hard fork has hit Bitcoin in October. Bitcoin holders may have missed the news of the Bitcoin Gold hard fork as many of the exchanges have been more focused on the upcoming SegWit2X fork. The Bitcoin has been forked on blockchain 491407 on 24th October and created the Bitcoin gold (“BTG”).

Bitcoin’s price slipped to $5,374 as a result of the fork, before its record run resumed. Bitcoin gold slumped more than 60% on the day of the fork, according to futures prices. Both have surged in prices since then.

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Why the Bitcoin Gold fork?

Bitcoin is mined using Application Specific Integrated Circuits more commonly known as ASICs. Mining is dominated by just a few miners. Bitcoin Gold’s intention is to allow non-ASICs miners to mine for Bitcoin, freeing Bitcoin of the Bitcoin Cartel that has the majority of the hashpower. This would allow mining with the use of CPUs and graphics processing units (“GPUs”). It is estimated that after the fork, Bitcoin Gold miners using CPUs will have 100 times less mining power than ASICs users. It may not sound great, but it’s better than the 1 million less mining power for Bitcoin. GPUs mining power will be even closer to ASICs’ power.

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The Bitcoin Gold project team define Bitcoin Gold as a “community activated hard fork of Bitcoin to make mining decentralized again.”

Decentralization may be the primary goal, but the ability to mine with Graphics Processing Units (“GPUs”) also will make Bitcoin Gold a competitor of Ethereum and other GPU mined cryptocurrencies.

How to Sell your Bitcoin Gold (BTG)?

With the fork having already split Bitcoin, expectations are for Bitcoin Gold coins to be available sometime this month. Holders of Bitcoin at the time of the fork received an equal amount of Bitcoin Gold (“BTG”) tokens on participating exchanges. So, one Bitcoin will give you one Bitcoin Gold.

Getting an equivalent amount of Bitcoin Gold coins does not mean that your Bitcoin portfolio will double in value. As always, Bitcoin Gold’s value will be subject to the ability to buy and sell on exchanges and also supply and demand.

Assuming that you had a wallet of Bitcoins at the time of the Bitcoin Gold fork, in order to access the Bitcoin Gold tokens that will have been issued, there are a number of initial steps that will need to be carried out:

  1. Ensure that you control your private keys.
    • If you hold your Bitcoins in a custodial wallet, on an exchange, create your own wallet and send your Bitcoins to one or more Bitcoin addresses in the new wallet.
    • As full node wallets can be resource intensive, hardware wallets are a second best option. You can also create a paper wallet.
    • The wallet will hold your private keys when the Bitcoins have been sent.
    • Make sure that you back up your private keys. Both Bitcoin and Bitcoin Gold will have the same private keys.
  2. Avoid a Replay Attack:
    • While the Bitcoin Gold Fork is reported to be replay protected, it’s better to be safe than sorry.
    • Avoid making any transactions for a number of days until the fork dust settles.
    • Unless you are in a major rush to sell your Bitcoin Gold coins once they’ve been received, the best action is no action.
    • The Bitcoin Gold coins can be claimed at any time in the future, as long as you have your private keys.

So, once you’ve got hold of your Bitcoin Gold coins, the next question will be on what to do with them. There was plenty of debate going ahead of the Bitcoin Cash fork over which exchanges will accept the coins. The Bitcoin Gold fork has been no different. There is good news, however.

According to, Seven leading Bitcoin exchanges announced a policy on Bitcoin Gold. Japan’s largest exchange, Bitflyer has announced that it will distribute and trade Bitcoin Gold. Several of the exchanges have said that they will distribute, but not trade. Others have taken a wait-and-see approach.

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Concerns over adequate security have caused some exchanges to only distribute or take the wait-and-see approach. Concerns over the threat of replay attacks have been raised by a number of exchanges.

The following Japanese exchanges have updated their policies on Bitcoin Gold in recent days:

Coincheck said that they will distribute Bitcoin Gold after they have confirmed its security and stability. They have yet to indicate a specific date and time.

Bitpoint stated that they will allocate Bitcoin Gold to their customers. The exchange also said that there may be delays should there be stability issues or risk of replay attacks. The exchange added that it was undecided on whether it would offer withdrawal and deposit services or permit the trading of Bitcoin Gold.

GMO Coin announced that it would distribute Bitcoin Gold to its customers, but was undecided on when. The exchange added that it had no plans to allow the trading of Bitcoin Gold.

Zaif has stated that it has no plans to distribute or allow deposits, withdrawals or trading of Bitcoin Gold. The exchange added that it would consider handling Bitcoin Gold once all concerns have been addressed.

Fisco and Bitbank made similar statements as Zaif, the wait-and-see approach preferred.

While Japanese exchanges have been relatively open-minded over the latest Bitcoin Fork, other exchanges have a mixed view.

Bittrex, which is the world’s third-largest crypto-exchange by trading volume, said that it will not list Bitcoin Gold trading. Bittrex announced that it would credit Bitcoin customers with Bitcoin Gold, however.

Coinbase, which is based in the U.S, said that it would not support Bitcoin Gold and considers the fork as a risk.

Exchanges that have already prepared trading operations for Bitcoin Gold include are as follows:

Bitfinex is one of the larger exchanges and has provided its Bitcoin holders with Bitcoin Gold tokens. While actual deposits and withdrawals are not yet permitted, trading of Bitcoin Gold tokens is possible. The pairings offered for trading are BTG/BTC and BTG/USD.

Binance has distributed Bitcoin Gold tokens and started trading Bitcoin Gold. Deposits and withdrawals are not yet allowed but will be available once the Bitcoin blockchain is stable. Trading of Bitcoin Gold tokens is permitted in the following pairs: BTG / BTC and BTG / ETH.

HitBTC has allocated Bitcoin Gold tokens to its Bitcoin holders in a 1:1 ratio. Withdrawals and Deposits will be permitted once the blockchain is stable. Trading of Bitcoin Gold tokens is permitted in the following pairs: BTG / BTC and BTG / ETH.

Yobit has confirmed the distribution of Bitcoin Gold tokens and allows the trading in the following pairs: BTG / BTC and BTG / ETH.

BitStar has distributed Bitcoin Gold tokens and has also introduced BTG trading and expects to allow deposits and withdrawals once the BTG blockchain is stable. BitStar only permits the trading of Bitcoin Gold with Bitcoin.

The fact that some exchanges have distributed Bitcoin Gold tokens ahead of the distribution of Bitcoin Gold coins and allow trading them will be good news for many. The 66% fall in the futures value of Bitcoin Gold was likely to be due to investors looking to cash in on the free tokens.

Looking at today’s futures price, not all Bitcoin Gold token holders are in as much of a hurry. BTG’s futures prices stand at $168.83 at the time of writing, recovering from a 28th October low of $111.153.

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, Some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

Bitcoin2X and How It Will Impact The CryptoCurrency Markets

Over the past few months, Bitcoin forks have become a focal point for traders and investors. The Bitcoin Cash fork gained huge publicity and good support leading to the first major split in the Bitcoin network, resulting in two different versions of Bitcoin being traded in the top 5 cryptocurrencies.

The Bitcoin Cash fork started something of a craze across the cryptocurrency space. Instead of running ICO’s, many of these currencies focused projects are deciding to fork off of a successful coin as a method of gaining users and publicity.

This makes spotting the forks that have a real impact on markets more difficult. Already it is ingrained in many people that a hard fork means free money. Historically most Hard Forks resulted in over 90% of the market siding with one version, even Bitcoin Cash was only valued at 1/6th of the value of Bitcoin. Bitcoin Gold has become an example of how over-hyped a fork can become, one week later it appears to have failed completely but recovered since then. I believe that Bitcoin2X is something to be taken more seriously than Bitcoin Gold, possibly even Bitcoin Cash.

What is Bitcoin2X?

Bitcoin2X was born out of the New York Agreement. The agreement was originally designed to bring together the two opposing schools of thought for Bitcoin scaling, as a method of keeping everyone in one version.

The 2X group insisted that Bitcoin was scaling too slowly and that Segwit introduced more problems than solutions, therefore they believe that larger block sizes for transactions are the best path forward. This group is lead by Roger Ver & Jihan Wu. and eventually decided to fork off into Bitcoin Cash.
The second group is lead by the Bitcoin Core team. Tried and tested they have widespread support for their management of the Bitcoin Network since its inception. The Core team first proposed Segwit technology as a potential solution to scaling problems back in 2014. Many on this side see the 2X fork as a political attempt to disrupt the Core team and gain power over Bitcoin’s future by getting more developers involved who perhaps disagree with the Core team over Bitcoin’s future. It’s politics.

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After years of debate between the two groups, the NYA agreement was made as a compromise. The agreement suggested that the 2X group would vote through the proposed Segwit Soft-Fork, and in exchange, the core team would return the favor with a Bitcoin2X Hard Fork to increase the block size on the chain a few months later.

Unfortunately, since the 2X group forked off to create Bitcoin Cash, many now consider that the NYA will be a failed project and the question is why anyone from the Core side of the argument would enable technology on their version of Bitcoin when it is not something they agree with. The problem is that there is also a middle ground, plenty of users believe that a combination of both approaches is required to overcome scaling issues. As a result, the support for Bitcoin 2X remains reasonably high.

My opinion?

Personally, I believe that a larger block size would be useful for Bitcoin, enabling Segwit to grow without any bottlenecks in the short term. However, I am also aware that the code for Bitcoin 2X is far from ideal. The Core team who didn’t even develop the fork have found numerous bugs over the past few months, some of which could have resulted in a disaster where they not discovered. Even now Bitcoin2X does not have replay protection. This means that “splitting” the coins is very difficult, if you send Bitcoins to an address your Bitcoin2X could “replay” the same transaction without your permission or knowledge.
Some exchanges claim to have a solution to this problem already such as Coinbase.

Personally, I do not feel that the fork has had enough development to be considered safe, which leaves me siding with the Core team.

What will happen to the markets after the Fork?

Already we have seen with the Bitcoin Cash and Bitcoin Gold forks that traders are moving funds into Bitcoin before the splits to ensure that they receive free coins. Bitcoin Gold suffered from the same replay protection problems as Bitcoin leaving many traders “trapped” in Bitcoin, unable to sell their Bitcoin without also selling their Bitcoin Gold, the same situation could happen with Bitcoin 2X.
Over the past few days, we have seen Bitcoin again rally to new all-time highs as funds flow into Bitcoin in preparation for the fork. If the fork goes well and users are able to separate Bitcoin2X from their Bitcoin easily we could see some interesting scenarios.

The easiest way to summarise this is by looking at different groups of people:

Group 1 – Bitcoin Core believers

Bitcoin Core believers will simply sell their Bitcoin2X tokens as soon as it is safe to do so and use the funds to buy more Bitcoin. Generally this camp trade less and tend to “HOLD” their Bitcoin, they are what caused the price of Bitcoin Cash to drop heavily in the first few weeks.

Group 2 – Bitcoin2X believers

Bitcoin2X believers are more likely to own Bitcoin Cash as well as Bitcoin, there could be a reasonable drop in Bitcoin Cash value leading to the fork as these users move their funds towards their preferred fork. Once the fork has happened they would likely sell most of their Bitcoin for Bitcoin2X.

Group 3 – Traders

This group likely to have a reasonably diversified portfolio of cryptocurrencies and are more than likely to use the opportunity to profit, diverting many of their funds from altcoins back to Bitcoin for the split. Once the split is over they will sell most of their Bitcoin2X and Bitcoin to exchange back into altcoins.

Group 4 – Investors

Like traders, this group will likely wish to ensure they have plenty of funds in Bitcoin for the fork. Unlike the traders, they will keep most funds where they are and simply hold any Bitcoin2X coins they receive as a complement to their portfolio.

Now that we understand these 4 groups we need to determine which groups are the biggest and how it all combines to create the market forces. I believe the groups to be in the following order of size:

1. Group 1 – Bitcoin Core believers
2. Group 4 – Investors
3. Group 3 – Traders
4. Group 2 – Bitcoin2X believers

As such this fork should follow a similar path to Bitcoin Cash. The value of Bitcoin will gradually increase to new ATH’s prior to the fork as all groups move funds to Bitcoin. Once the fork has occurred, Group 3 will be the first movers taking good profits and potentially shorting both Bitcoin and Bitcoin2X, causing the price to begin dropping. Not long after this, Group 1 will be quick to sell their Bitcoin2X for Bitcoin, stabilizing Bitcoin after the drop and pushing Bitcoin2X lower. At this point Group 2 will begin moving funds over to Bitcoin2X from Bitcoin, but as the smallest group, the impact on price will be negligible for Bitcoin but enough to stop the Bitcoin2X freefall. Finally group 4, the Investors will assess how the situation unfolded and redistribute funds accordingly with little impact on the market.

My price targets throughout the event are as follows:

Prior to fork:
Bitcoin – 6500-7500
Bitcoin2X – 750-1000 (futures markets)

During fork:
Bitcoin 6500-7500
Bitcoin2X – 500-750

1 week after fork:
Bitcoin – 6500-7000
Bitcoin2X – 750-1000 (unable to sell coins easily)

4 weeks after fork:
Bitcoin – 7000-8000 (with uncertainty lifted the market could rally)
Bitcoin2X – 500-750

This could still change dramatically as the technology and politics move forward and major companies using blockchains take sides. I will be selling my Bitcoin2X to start with and look to trade it after the first few weeks once it reaches a more stable ground.

The Best and Safest Way to Buy and Sell Bitcoins

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