If you are unaware of what is going on, here's a brief summary:
Two groups of BCH guys want to make their BCH the main one and get all the power in it.
Bitcoin Cash is designed from the day one with only one purpose, to destroy bitcoin.
Now, you might say hey they are succeeding, but think again... bitcoin at this level of wallet-inequality is EASY to crush what $1000?
They are little cockroaches that did it...
And Bitcoin is leaderless.
It doesn't make it weak. It makes it strong. Because no shit like BCH thing is going to happen with BTC. It might face dips as greedy people get manipulated into changing mining... but it's only temporary, not sustainable.
Can BTC dip to what they predict $1000? Sure... and?
Bitcoin's actual value, hardcore value is around $800. It can't go under that. Under no circumstances.
And what is BCH real value?
Under $1 dollar!!!
When Chinese used it for smuggling money out of the communist system country it was around 750, and now it got even more uses.
Let's compare it for a moment...
800 vs 1
that are the odds of bitcoin cash out earning bitcoin.
Bitcoin being leaderless means it's actually MORE resilient to bullshit over time. The keyword: over time. In short term, it can get fucked because it doesn't take counter-actions to protect itself.
To all of you who lost money yesterday, do not blame yourself. This was not charted. It was not your fault. It's the risk of the game. Don't analyze your entries, or stuff... it was not your move.
However, what is your move is now. And now is a no trade zone.
I knew, personally, through an amazing insider to long BCH since yesterday. I entered the trade and then I exited it at the same amount. I said, listen, I'm too stressed for trading, this is too volatile, I am not trading on that day. It reached huge gains, yet I am not sorry I didn't trade. It was the right move.
So should you, don't think about the gains, you are not missing anything. Basically you're gambling now as they are doing a hashrate war, you are gambling on a few individuals who will do the move next. You get one side, bch tanks, you get other side bch goes up... you get one insider deal btc goes down, or it goes up...
I think what I'll tell you now will illustrate you a point properly...
One body, yesterday liquidated itself on purpose, with 10 million contracts between 50 and 250 times. They are spending bitcoin cash money to wage this war.
However, if they fail... Bitcoin cash, that just used the money for waging a war... will dip into nothingness. Quickly or over time, is another matter of discussion. In this war, NOTHING is at stake for Bitcoin, and everything, money, value, so much risk is at stake of BCH.
Who do you bet on?