Bitcoin Cash latest: Should the major dump already have been priced into the market?
August 3rd, 2017: The price of Bitcoin Cash is hovering around $400 and is holding steady after major volatility on its first day of trading yesterday.
21:35 UTC: Bitcoin Cash is trading at 0.159 against Bitcoin on Bittrex. Coinmarketcap USD price: $393.
Most BCH tokens have not yet become available through the biggest wallets, such as Trezor. If you are able to safely access the tokens, it is still very hard to find exchanges that accept deposits. All the people who want to buy BCH have pretty much been able to do so, whereas almost all the people wanting to sell it still haven't gotten access to theirs.
There is presumably a race to be the first to move BCH tokens onto exchanges and dump it. The logic of supply and demand would clearly predict a major fall in the price when the gates are open.
Cointelegraph: Bitcoin Cash Price Set to Plummet Once Network Stabilizes
However, pretty much the entire market should know this by now.
There is no way the current buyers of BCH don't know about about the skewed price discovery that is going on. Therefore, the impending dump should already be priced in. This could turn out to be a pretty interesting situation.
Are there major actors lurking in the bushes looking to rush in to sweep up all the BCH tokens once they become available?
I think so yes! Bcash is holding it's value pretty well even with the 'impending doom' of mass sell-off and with Bittrex opening deposits. That says something. There will be buyers to pick it up at a low price for sure. Don't think it will have any problem bouncing back to its current level and beyond.
Yeah. I haven't tried the Bittrex deposit myself, but I heard somebody say it was still somewhat complicated to actually get the BCH in there. All I am hoping for is essentially to get this over with, so we can finally settle :p
I love bitcoin cash
me too!
On Kraken, the swing on the price has been insane from $100 to $700.
Please Upvoted and Resteamed !!!
YOU ARE ABSOLUTELY DEAD ON! There is going to be a massive dump once more people can get their money onto the exchanges. There simply isn't enough support IMO.
But you are referring to the first part of my post, then ;) In the second part was speculating whether this was so obvious it had to already have been priced into the market.
However, it seems that the increasing supply is suppressing the price quite drastically, as predicted.