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.
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
