Bitcoin Forum

I've heard that 7 forks based on BTC will be launched in December, what's wrong with those guys? Let me know your thoughts below.

By the way, I have a analysis of BTC, BCH, ETH, ETC, LTC and altcoins.

BTC:
BTC price has been moving in a broad range in the past 3 sessions and forms higher and lower shadows with increased volumes, indicating that turnover rate at present level is extremely high and the adjustment in price fails to prevent investors from rushing into the market.

Let’s take a look at the chart (as attached):

At present, price is in a triangle consolidation pattern and shows signs of breakout on hourly chart. Judging from volumes and momentum, however, such breakout will be short-lived and can’t be seen as an effective breakout, therefore, BTC’s still considering the further direction.

Strategy for our operation today can still refer to our 5-Day MA strategy. If price fails to remain above it, then an adjustment can be basically confirmed. However, if price gets support at 5-Day MA and starts a rally from there, the validity of 5-Day MA remains intact.

BCH:
Main funds of BCH chose to follow BTC’s price action, therefore, BCH is likely to start a minor rally after testing support level in the short term, for day traders, sell your positions when price rallies, otherwise, just hold on to your BCHs and uninstall your APP.

ETH:
Fork, scheduled on January 1, is coming, which is interpreted as a bullish news because” candy bonus” is free from tax. Overall, the range for the gains in price in this wave of uptrend seems normal. when ETH price was pulled back to precious highs, it seemed to be a good chance to buy in. However,

since all major coins are connected to BTC price, we must wait for the final decision of BTC on its further direction before setting positions for other major coins.

ETC:
Just like ETH, further direction depends on BTC’s final decision as ETC hasn’t shown signs of an independent trend.

LTC:
LTC witnessed the least gains in price and a relatively small range for pullback in this wave of uptrend among major coins.

Altcoins:
We can see a broad rally in altcoins prices for now, shortage in funds still exists as major coins take turns in increasing their market capitalization and forks around BTC will come in December one by one. Therefore, chances for further gains in altcoins prices will emerge when BTC and major coins step

into a consolidation phase. If BTC regains traction and moves upwards, sell your positions set for altcoins when their prices climb and hold on to your major coins. If major coins get stuck in a continuous consolidation pattern, minor positions for altcoins can be set.

Original by Kuang Ren, translated and posted by AICoin Jami.

Where have you heard this stuff about "7 forks based on BTC in December"? Any links to the news on the web?

It was bitcoin cash, bitcoin gold also, next one is scheduled to be bitcoin diamond, which will probably be this month as many expecting. While first two were ratio 1:1 if you have one BTC you get 1 BCH or BTG, on bitcoin diamond is 1:10 ratio. For one bitcoin you will get 10 bitcoin diamond.

Apparently bitcoindiamond is already trading on yobit. I'm not sure other exchanges will bother with it though.

The guy is talking about the future bitcoin forks,not the previous forks like BCH and BTG.
Obviously the altcoin devs realised that there`s more pump&dump potential in hard forks,instead of creating some brand new altcoin with a new name,that they have to advertise.When they create a "bitcoin gold/cash/wood/whatever" they grab the attention of the entire crypto world for free.
 

According to your mathematics, bitcoin cash and bitcoin gold have 1:1 ration and bitcoin diamond that isn't yet existing will be given in 1:10.
It ckearly shows that upcoming forks will be distributed in less ratio, is it that the supply of next forks would be less than firstly launched coins?
Or it's because next coins would have higher price than bitvoin gold and bitcoin cash?

Do we really need those Hard Fork? Even if there isn't any bitcoin will be good on its own like what it did in the recent bullish trend going to $11,000, but yes this Hard Forks are on schedule to be in process, I have heard about the Bitcoin Diamond that is coming next but I have never heard about other Forks that will be on the same month of December but Yes there will still an upcoming Hard Fork in the future.

Those forks give free coin to all of us and that is the way of devs to earn good money also because fork coin is not increasing its value they only collect early investors with a huge value of coins but after the coin was released on the exchange its value is rapidly decreasing that is why if you are investors do not support all those incoming fork coin.

Just look at these devs, trying to make some quick buck by creating forks of their own thinking that it would be successful as BCH. That's the only motivation I can see from these people that proposed new forks; they already deem that any fork would garner the same interest no matter what you call it because it is already imprinted within the market's mind that they could also make some quick buck in these events. If a fork don't contain any promising development, better not to support it.

They are all speaking about the speed of transactions. It reality the cryptomarket destabilizes and Bitcoin price goes up and down.  :-[

I don't understand why they keep on doing that, are they hoping that they can still beat the boss. Bitcoin already proved that it is unbeatable after BCH and BTG forks and even the cancellation of the Segwit2x. When are they going to stop this non sense if they just want to have their own coin why don't they just create one from an ICO? People doesn't really care now if a new fork coin will be released unlike before when BCH was release we experienced a very unstable price during that time, but now most of the users are aware that forked coins are useless. And wait is that really 7 forked coins in one month?

Bitcoin Diamond has already happened as far as I know. You can trade it on binance and yobit I was told.
Other forks will be Supersmartbitcoin, Bitcoin Cash Plus, Lightning Bitcoin, Bitcoin Platinum, not sure about Bitcoin Silver though.
Way more may happen next year, who knows. :D

Worthless coins that will eventually dissapear into oblivion. Hopefully, the market won't have the same reaction it had with Bcash fork.
The devs behind those forks obviously know what their doing, they're trying to take advantage of the recent Bitcoin boom, they want to attract the newcomers who don't know the diference between Bitcoin and Bcash or Bitcoin Gold, for example. People will start buying those forks thinking they're doing the best invesment of their lives, when in reality, they're throwing away their hard earned money and filling the pockets of malicious groups.
The BTC community will have to take action and do something at some point, not only because those forks are basically stealing the Bitcoin brand, but because we shouldn't let those greedy developers deceive the new adopters by confusing them with a bunch of "Bitcoin forks" in order to gain some quick money.

I really dislike the current trend of BTC forks.
I will not be supporting these forks by not investing into or even looking at them.
A complete waste of time and causing so much confusion to the market participants.

Don't ignore them. Sell them for BTC and increase your stash for free!

What was the real point of your thread? You just posted on phrase about the tittle, and the other five pharagraphs are about your analysis.

it does not makes sense, what are you trying to do? promote your program?

Do you really think that all those upcoming forks are going to be legit? nobody is exporting their private keys anymore, we all know how risky it would be to export them and lose the bitcoins one more time.

A lot of people passed through that situation during the bitcoin gold fork, and they are not going to be passing through the same again because of those shitty forks.

Probably to make some FUD, but people were already used to it, and some loves fork for free xoins and as well to buy back and buy pack, newbiew might get alarmed on it.

Many will happen in next year or two and this is something that cannot be stopped. Ok if some alt follow this path, but in the end it will be very confusing what is good or bad.
If we look in that direction everybody loves free money, and we see that some coins from this fork are still it process of development, and that some can be traded already on some exchanges.

Just hope that everything will be ok at the end and that this forks wont influence much in bitcoin price and that it wont be manipulated in price.

I think the bitcoin diamond fork already happend on november 24th if I remember correctly. They said that increasing the supply by 10x would lower the threshold for new users, I don't know how increased supply would do that though.

How these forks coin will be hurting the bitcoin in the future. as the demand of bitcoin already stolen by these all shit fork coins. But where is the consensus? and how it works? this caused by the open source of the bitcoin itself.
I hope everyone will ignore all of the future fork shit coins.

Whatever the numbers may be,i think those forks would have no impact on bitcoin's price and its progress.People have realized that those forks were made just for the benefits of some group of miners.So,their attitude of buying more bitcoins for claiming free coins has almost completely changed.

That is insane for sure; the forks are scheduled this month most probably. Looking at bitcoin it is hard to say whether the forks will affect it. But the past experiences have always led to some bad news. There will be unexpected turns coming ahead as most of the price is pushed by newbies and they play an important role in this game now, but the fear is they can be easily distracted by news and rumors. Hence there may be a decline in Bitcoin’s value.

Thank you for the list! Will look more into that. Even though most here say forked coins have no future, it will still be interesting to see their dynamics, if they all go the same way...

Forks are the new hype to get easy money and the exchanges are loving it. Yobit seems to be the most interested on it since they list the coins of the fork before even it happens. I don't know when this will end but I am sure it will continue only for the money. Where did you see those next 7 forks? I am curious to know what they want to bring "new"

i think they have still impact to the original bitcoin in terms of price fluctuations because bitcoin tends to increase whenever theres an scheduled upcoming fork and its usually decreases when the fork has been subsided. forks is not all about free coins, it also has benefits to bitcoin because it tends to upgrade bitcoin and to fix some known issues like scalability.

Same thought here.
When forks started, I have thought that there will be nothing to stop upcoming forks in the future where in they give free coins just to gain supporters.
This only makes users confused of which is which with so many alts created. Some get scared and others just wanted to invest in cheaper ones making other coins or simply bitcoin dump for a while. Mostly, new users are the ones investing to such coins.

please add your source i know BCH, BTG and 2x is only new forks based on bitcoin and all other altcoins based on blockchain like ETH,LTC,......

and all this old forks not new  

They only invest in this. Look at the price for all forked coin only bitcoin cash is by me manipulated price.
Personally dont like this cuz it can be bad for bitcoin in global, but live this cuz they will always love free cash.

Bottom line is we are far from over on forked coin for upcoming period.

The forks were such a great way for reach people to become even richer, someone with 2M just got 1M for free, amazing right ?

Just heard about a new fork today with quite a peculiar name Bitcoin God planned for Christmas. That's insane )))