To understand what happening to Bitcoin cash we have to understand who is behind this coin.
Rodger Ver is the owner of the Bitmain company, Antpool, and Bitcoin Cash itself.
The goal of Mr. Ver is to get the maximum from the market and to achieve that goal the fork of Bitcoin – Bitcoin Cash is helping him.
Rodger Ver have started the huge marketing campaign against Bitcoin. The main Idea of the campaign are that Bitcoin is too slow and expensive due to small block size. Bitcoin Cash size is 8 times bigger and has 8 Mb, but it is not solving the problem in future. At my opinion Rodger Ver just playing with the market in order to get more Bitcoins for him.
The main steps of this game are:
1) First of all Mr. Ver is waiting all time high of Bitcoin on the new psychological level. By the way next time it has to be at 30k.
2) He’s putting his ASIC miners S9 for sale just for the Bitcoin Cash available to pay, that are helping BCH to go a bit up.
3) He is waiting the first small consolidation and when he is sure that Bitcoin can’t brake the resistance from the second try, and it should be consolidation anyway, then he starts his media campaign that Bitcoin Cash is a real Bitcoin (are you kidden me?🙄)
4) He starting to pump Bitcoin Cash. People are freaking out and starting to sell BTC and buying BCH making the cash even more expensive.
5) Just in 24 to 48 hours after this Vers team starting to give up BCH for the very expensive price.
6) In a result BCH are dropping tremendously and the people are loosing money and they BTC. When BCH are at the support point Mr. V are making the second pump, but not so big one as the first one and making a harvest again.
This scenario is the only one thing what is happening at my opinion. So get ready for the next time.
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Remember that diversification is the key of any successful investment strategy. There is an wide spreaded opinion that year of 2018 is a altcoins year as Bitcoin are loosing his dominance on the market more and more due to higher altcoins profitability. That is why I choose to sell all my BTC and to diversify assets among prospective altcoins that you can see.
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