Bitcoin Cash reaches the lowest value against Bitcoin days before hard fork

The Bitcoin spin-off shows few signs of life before its fork, with Bitcoin far outperforming.

Bitcoin Cash reaches the lowest value against Bitcoin days before hard forkNOTICS

Altcoin traders continue to feel the pain as Bitcoin (BTC) rises while Bitcoin Cash (BCH) reaches new historic lows.

Data from Cointelegraph Markets and other sources show that as of November 10th, BCH is worth less in BTC terms than ever before.

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Bitcoin Cash melts
To date, BCH/ BTC has traded at 0.017 BTC, comfortably beating its previous record low of 0.0245 BTC seen in December 2018.

Bitcoin hard fork received little attention this year, with investors focusing on Bitcoin and then the phenomenon of decentralised finance. The announcement of another Bitcoin Cash fork, scheduled for November 15, did little to improve the currency’s outlook, the data show.

BCH / BTC historical weekly chart. Source: TradingView
In dollars, Bitcoin Cash has spent the last three months floating in a corridor between $230 and $280, while Bitcoin itself has increased by a third in value.

Unsurprisingly, the Bitcoin proponents took a gloomy view of the upcoming difficult bifurcation, something that generated a family dispute between companies choosing to support or reject the resulting new currencies.

„I hope this electoral drama disappears before the next scheduled shitty drama: Less 10 days to the next BCH fork! CasaHODL co-founder Jameson Lopp summarized on Twitter last week when the hard fork was confirmed.

3 reasons for Bitcoin’s 6% drop after reaching $15,800
Litecoin has the smallest weekly closing
For Litecoin (LTC), price data show a similar story. The LTC/USD was traded at 0.0038 BTC on November 10, increasingly close to the existing March 2017 fund of 0.003 BTC.

On the weekly chart, the pair printed its lowest close in history this month.

Weekly historical LTC / BTC chart. Source: TradingView
Why a 30% drop in the price of Bitcoin shouldn’t catch you off guard now
Noting the lack of performance of Litecoin and Bitcoin Cash since PayPal confirmed that it would support both assets along with Bitcoin from 2021, a popular Twitter account summarized the mood among those who favor BTC.

„We think it is a bad business decision and also morally and ethically bankrupt for PayPal to allow retail customers to buy BCH and LTC,“ he wrote on November 5.

„Many retail investors will be tricked into buying assets that are completely useless by misleading copies, as below. It is not right“.

Some traders continue to predict a return to the „alternative season“ next year, although the outlook remains bleak in the short term. Meanwhile, Bitcoin’s market capitalization dominance reached 64%, the highest since June.

Bitcoin course uses data science and predictive models to reveal 5 key conclusions in search of the answer to the question: When moon?

The Bitcoin halving was almost exactly 6 months ago and although we can already see a positive development in the Bitcoin price, the big „wow effect“ is still missing for many. The old all-time high is still a long way off, so many people still ask themselves: When moon?

Benjamin Cowen, founder of Into The Crypto Verse , addressed this question by taking historical BTC price data from the past decade and drawing five key conclusions with the help of data science and predictive models. With the help of this knowledge, participants should be able to better assess which market cycle we are currently in based on the current Financial Peak course.

When moon? Well, so much can already be revealed at this point: You probably don’t have much time left to amass BTC at these prices.

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Decrypt Bitcoin course with the help of data

Investing in Bitcoin over the past decade has dwarfed the returns of most other investment vehicles.

While a quick look at the Bitcoin price over a short period of time can still look a bit daunting, according to Cowen this is because short-term price movements are best traced back to a random walk or a geometric Brownian movement.

Traditional technical analysis, in his opinion, is often riddled with waivers at every turn, and for any kind of price movement that resembles some kind of textbook pattern, there are countless others that don’t go „according to plan“.

Alternatively, a macro view of the Bitcoin price development gives something that can be deciphered a little better with the help of data science. A quick analysis shows that there are market cycles that have resulted in lower ROIs, while the realization of these ROIs takes longer. In simpler terms, it means that BTC’s macro trend shows an increase in cycles with decreasing ROIs in each market cycle.

In cases in which an annual loss after a speculative bubble can exceed 80%, there is much to suggest that not only the time in the market, but also the timing of the market is important.

The time value of money is crucial in an era when it comes to defeating inflation

1. Bitcoin course is in a „fair value“ phase

The above graph shows the price of Bitcoin and a logarithmic regression fitted to „non-bubble“ data and speculative bubble peaks. If the price is viewed from a high level, areas of accumulation and speculative bubble formation can be identified much more easily.

To better understand these trends, we can calculate the percentage difference between the Bitcoin price and the logarithmic fair value regression fit, which is a monotonically increasing function (Fig. 2).

2. Market cycles become less explosive

The graph below shows that speculative bubble formation with respect to the fair value regression band becomes less and less explosive with each subsequent peak.

In fact, the percentage difference between the first peak in the Bitcoin price in 2011 and the logarithmic regression band is around 6,000%, while the second peak in 2013 is only around 3,000% above the band.

The third speculative bubble in 2017 peaked about 1,000% above the regression band. While three data points certainly cannot establish a definitive trend, we can at least speculate with the data we have so far. For example 6000/3000 = 2 and 3000/1000 = 3. If this trend continues (which is of course a big “if”) and we see a division by 4 from the third bubble to the fourth, we can expect the Bitcoin Course will be overvalued by about 250% in about three more years (2023).

Bitcoin sur la blockchain TRON grimpe à 9000

La blockchain TRON connaît une augmentation significative de la demande de Bitcoin.

Actuellement, il y a 9000 Bitcoin (TRC-20) sur la blockchain

La plus grande crypto par capitalisation boursière, Bitcoin (BTC), connaît une forte demande pour sa blockchain, en particulier avec ses augmentations de prix actuelles. Sa demande dans d’autres blockchain est également remarquable. Plusieurs plates-formes de tokenisation ont évolué ces derniers mois, permettant aux Bitcoin Profit compatibles Ethereum pour la finance décentralisée (DeFi). De même, le marché DeFi sur la blockchain TRON voit une demande relativement énorme pour le jeton Bitcoin ERC-20.

Spike en Bitcoin sur la blockchain TRON

Depuis le 1er novembre, les Bitcoins sur la blockchain TRON ont considérablement augmenté, passant de 2000 à 5000, alors que le fondateur et PDG, Justin Sun, a tweeté tout en célébrant la journée du livre blanc Bitcoin. Pendant ce temps, les données de TRONSCAN, l’explorateur de chaînes de blocs, montrent que le nombre total de Bitcoin sur le réseau est passé à 9000. Cela implique l’ajout de 4000 Bitcoins sur la blockchain en l’espace de 24 heures.

Bitcoin enveloppé sur Tron

La croissance massive suggère une demande accrue de Bitcoin sur la blockchain TRON et son marché financier décentralisé. Selon TRONSCAN, les 9000 Bitcoins de la blockchain TRON sont tous en circulation actuellement détenus par 2179 adresses. Cela fait suite à l’annonce récente de Wrapped Bitcoin (WBTC) sur la blockchain TRON. L’équipe TRON a travaillé pour permettre à sa communauté de profiter des services offerts dans sa blockchain rivale, Ethereum.

Suite à la demande accrue de Bitcoin dans Ethereum via le jeton Wrapped Bitcoin (WBTC), Justin a trouvé qu’il valait la peine de faire ses débuts avec un WBTC compatible TRON sur la communauté. Comme l’a rapporté Cryptopolitan , TRON a conclu un partenariat avec BitGo le 26 septembre pour lancer la version TRC-20 de Wrapped Bitcoin. De nombreuses personnes ont émis l’hypothèse que cette décision visait à stimuler la participation à l’écosystème DeFi de la blockchain, comme on l’a vu sur Ethereum.

Bitcoin rate of 250,000 dollars in 2022? – Billionaire Tim Draper firmly convinced

Bitcoin Course Analysis

Considering the many headlines around PayPal, Microstrategy and Square, the Bitcoin share price has reached new heights in the last weeks. Despite the positive performance, BTC is still trading at a good 35% below its all-time high of 2017. 2 years ago, the well-known Bitcoin investor Tim Draper published a Bitcoin price forecast that sees a price of USD 250,000 by 2022.

In a recent interview Draper spoke with Cointelegraph. Among other things, he talked about his forecast and the hype of Decentralized Finance. We summarize the most important results!

Draper sticks with Bitcoin price of 250,000 USD

Did Tim Draper stick to his Bitcoin price forecast of $250,000? – The answer is quite clear: Yes. The investor and billionaire reaffirmed his statement in an interview with Cointelegraph and even said that he considered it a little too „conservative“.

When asked whether he would stick to his prediction, Draper answers:

Bitcoin will definitely reach $250,000 in 2022 or the beginning of 2023. This $250,000 is just 5% of the market share of currencies.

He sees a major role in the further use and spread of BTC, especially among women. While already „many“ men are already dealing with crypto-currencies and blockchain, there is still a lot of potential from the female side.

In the current times Draper spoke also about the topic of Covid-19, the monetary policy of the USA and the associated effects on Bitcoin. In his opinion, this policy will also lead to greater use of BTC.

Another thing that happened was the $13 trillion action by the U.S. government. This directly diluted the dollar by 20%. Then, of course, people ask themselves, „Where do I put my money, do I put it in gold or in Bitcoin where I have a better store of value?

Decentralized Finance (DeFi) more than hype

The last topic in the interview was the importance of Decentralized Finance. Draper said that not only is DeFi more than a marginal phenomenon, but that it had to happen by force.

In his opinion, the main reason for this is the possibility of having your money work on a decentralized basis. So Draper said:

DeFi had to happen. Humans had Bitcoin and other crypto-currencies and watched these only instead of letting the capital work for itself.

Draper even said that he set himself the goal of making his business sector, that is, the venture capital business, a Decentralized Finance project. In his opinion, we currently see the early stages of DeFi with enormous potential for further development and expansion into other areas.