Bitcoin Forum

Hello, I am not a professional trader but many people around me are talking about shorting Bitcoin Cash after 15th November.
Do you think that it is good? Historically almost every hard fork was followed by huge drop.
And what about entry point - 700USD? And take profit around - 500USD?

Shorting bitcoin cash is very risky. I guess the bitcoin cash holders will try to sell their bitcoin cash and hardfork coin instantly. Because these speculators are buying a rumour and sell for the news. i will not feel any surprise to see that. it has already happened to the a lot of tokens or even bitcoin. It's too risky for me. Bitcoin cash doesn't have a strong support.

My exact sentiment and concern. Bitcoin Cash doesn't have a strong support like the big one out there and as such, it's a risky to short in anticipation of a price drop. I'll simply not do it if were into margin trading.

bitcoin cash is highly manipulated. Those pumps and dumps are too strong.

It was pushed to 0.5 btc, just go fall to 0.1 few weeks later... Very dangerous

What was this fork about? The real bitcoin cash?

I'm not a professional trader but yes, usually when there's a hard fork, dump comes.

Entry point @ $700? nah, you'll wait for that price before getting in? regardless of this coin because I don't have BCH anymore and I don't like it. But if you are going to have an entry, you'll come in during the dip. Looking at its price, $554 and it's on red I think you can now decide to entry.

To push the price up to have a good exit.

from some hardforks I've ever met, many coin hosts from Hardfork themselves have experienced a very sharp decline when approaching a snapshot.
Is this really their plan to seek profit or not, I have not been able to find the answer

a big dump always occurs when a snapshot has taken place and avoids buying or holding a bch when the price is at the top of the pump, it's better to sell at the top of the pump than to get a coin that has no potential.

Indeed hardfork is not long but gives the holders more pleasure and strength, I think that this hardfork is not long and later BCH will have a stable value again. Indeed hardfork that happened was not long but gave the holders more pleasure and strength, I thought that this hardfork was not long and later BCH would have a stable value after hardfork finished the team and community would return to their position and follow the next developments.

I think every hard fork many people take speculation to make a profit, but this is good if done before a hard fork because the market still wants to buy and usually after a fork, the coin will fall in price, this is because the saturation or the buyers have gotten profit, then you must be careful heart, for those of you who want to profit as much as $ 500 I think it's too big.

Not a good idea.
Maybe you'd buy if you love to get the forked coin or wait after the snapshot because as you said "almost every hard fork was followed by huge drop", it's too risky if you would buy now when you already anticipate that the price could go bottom.

Well, you are talking that it is risky. But traders are doing risky things, their profit depends on ratio: how many succesful trades/ how many succesful trades they have.
And in this trade I see less risk than in classic day trading. Because many people are buying BCash only for getting "free money" they will sell it as soon as possible.

As far as I'm concern, the fork was something to do with another block size increased.

@OP, as others have said, its very risky and dangerous, you admitted you are not a pro so I advise you not to take the bait. Get out while you can otherwise you might be trap and its going to be difficult to exit, just saying.

So all of you are saying that Bitcoin Cash will constantly grow after hard fork? It doesnt make a sense, people will sell Bitcoin Cash because many of them bought it only due upcoming fork.

Its hard fork without airdrop / new coin if bitcoin cash hardfork generating new coin then I think its better if we take profit before hardfork occur because ussually price will decline sharply when hard fork or after hardfork