I looked at the BTC market too involved in the split controversy...: Cryptocurrency Chart Watching

The outlook for the previous BTCUSD chart (daily) is “Since BTCUSD exceeded 5000 USD, I considered the next move” and I’m surprised myself (laughs).

Please read to the end, as the next chart commentary will be provided in the latter part of the page.

Bitcoin split bonus buying frenzy

The trend up to now is probablya buying spree aiming for the Bitcoin split bonusto be dominant, I think.

On August 1st, Bitcoin split into Bitcoin and Bitcoin Cash. I believe a similar crowd psychology is at work this time as well. People bought simply because owning Bitcoin would grant Bitcoin Cash. Currently, the price of 1 BCH isaround 380,000 yen.

Back on August 1st, Bitcoin was around 300,000 yen per 1 BTC, so the result was that 1 BCH worth 38,000 yen was given just for holding 1 BTC. Moreover, the original Bitcoin has now surpassed 600,000 yen in market value….

There are only two ways the opportunity drops, oh God….

It sounds almost like a scam, but it is not a scam at all; assets split (by themselves) and acquire new value, something that could not have been imagined a few years ago (I worry there may be more deliberate splits in the future)