Tuesday, November 20, 2018

The Waiting is the Hardest Part


Earlier this week, I moved as much as possible of my (pitifully small) cryptocurency holdings into Bitcoin Cash (BCH), in anticipation of the announced "hard fork" (what was Bitcoin Cash is now Bitcoin ABC, still with the BCH ticker on most exchanges).

At present, my particular wallet (Coinomi) still has BCH transactions in suspension and I haven't heard when (if?) they will end that suspension and add the new fork-generated coin (Bitcoin SV, ticker apparently BSV), of which I should enjoy an equal balance.

In the meantime, cryptocurrency in general took a beating yesterday. Wrecked Bitcoin (BTC) is down to less than $4,500 (a week ago it was at $6,300) and all the other major cryptocurrencies are way down as well.

What to do?

Well, in my case there's nothing to do but sit and wait, seeing as how my BCH/BSV balance isn't movable at the moment.

If I could add to that balance at the moment, I would.

The following is not investment advice. I am not a financial advisor by inclination, occupation, or gummint certification. Do your own research and reach your own conclusions.

My expectation is that the crypto market will begin to rise again before the end of US holiday weekend (perhaps even today) and that most significant cryptocurrencies will regain their USD price of a week ago no later than mid-December and probably before that.

My further expectation is that once all the hard fork agitation is done, BCH will quickly regain its previous market value and trend upward, while BSV may enjoy a short honeymoon before quickly fading away. Which means that absolutely as soon as possible, I'll be trading my shiny new BSV for BCH.

But per the disclaimer above, that's just me.

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