Bitcoin Flash Crash Opportunity Due to ‘Cashening 2.0’

Bitcoin and Bitcoin Cash are back at it again as Coinbase / GDAX launch Bitcoin Cash trading. In the first 3 minutes of trading, Bitcoin Cash spiked over $9000 to $9500 before GDAX halted trading. At the time of writing this description, trading is still halted and Bitcoin has recovered above $17,000.

Steemit Post (I will respond to any relevant comments here for certain – I miss many comments on YouTube due to volume): https://steemit.com/bitcoin/@cryptovestor/bitcoin-flash-crash-opportunity-due-to-cashening-2-0

In this video, I expected to make a recording just talking about the flash crash that Bitcoin experienced down to $14k, but instead was treated to watching these first trading minutes live while recording.

Many people speculate that the Cashening 2.0 might happen as the Bitcoin network is being ‘attacked’ and there is a coordinated effort to make Bitcoin seem awful surrounding its difficulty adjustment. While this is possible, it wasn’t particularly difficult to manipulate Bitcoin Cash’s price given the thin order books (low liquidity), offering a great manipulation opportunity by whales regardless of coordination.

Once trading resumes, Bitcoin Cash will likely crash on GDAX to the levels it is trading on other exchanges. While a pump might happen again, there is very low probability of a Cashening. While Bitcoin Cash is currently more useful as a transaction medium (purely in that it has lower transaction fees, not that it is accepted by more businesses), Bitcoin has way more capital inflows from traditional investors in addition to crypto enthusiasts.

I hope you all took advantage of the opportunity to make some quick money. Buffett’s quote always holds true – Be greedy when others are fearful and fearful when others are greedy.

On a side note, Bitcoin is becoming a more attractive RELATIVE purchase as its dominance continues to decline below 50%. As such, I have taken this opportunity to increase my position in Bitcoin slightly, shifting some funds from some altcoins I own.

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My Recommended Hardware Wallets:

If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously – look it up and you’ll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline):

Ledger Nano S: http://amzn.to/2hZPj0q
Trezor: http://amzn.to/2AxD9TN
Ledger Blue (expensive): http://amzn.to/2hk7xst

I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn’t matter which one you go with. Ledger Blue is premium and convenient, but not necessary.
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My Favorite Book for Investing in Crypto:

Cryptoassets: http://amzn.to/2zKDdCF

This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn’t bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest.

It’s a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc).
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My Recommended Exchanges: Coinbase / GDAX / Bittrex

https://www.coinbase.com/join/5a08b12e305a1401d79d10e0

If you sign up to Coinbase using link above, you and I will both receive $10 each after you buy your first $100 of Bitcoin using Coinbase. Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex.
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Legal Stuff: I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites.

None of what I provide in my videos is investment advice. Please do your own due diligence.
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Twitter: https://twitter.com/Truth_Investor
SteemIt: https://steemit.com/@cryptovestor
Medium: https://medium.com/@Truth_Investor
Seeking Alpha: https://seekingalpha.com/author/truth-investor/articles

Bitcoin Flash Crash Opportunity Due to ‘Cashening 2.0’

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Kane Dane