BCH or DASH - Where is the Cash flowing
Both Dash and the recent addition of bitcoin cash are in my core portfolio. I am taking this opportunity to add to one, and wait on another. The reason is simple as I explained in the NEO' article. CHINA! Bitcoin cash has many ties to China and anyone in the markets for any amount of time knows how China does business. Right or Wrong is not what I care about. I'm sure there will be several bitmain comments with this one, but this is the exact reason I like Bitcoin Cash over Dash'.
Let's look at some facts:
Bitmain Co founder is Wu Jihan - Chinese
Dash Founder is Evan Duffield - Not Chinese
Bitcoin cash and Dash are competitors in the space. But this is the reason I like BCH better!
Dash has a good presence in Europe and the America's but no so much in China. The Euro and the Dollar (along with the Yen) are considered the more stable world currencies. But China and other asian countries their currencies tend to fluctuate which is the reason the chinese are one of the biggest hoarders of gold! We also know that China is totally focused on Chinese businesses and the Chinese Business person. They create numerous regulations to give them an edge in all aspects of doing business. Note very little market penetration into China with DASH.
As Bitmain is a chinese mining company, and China is the 1000lb Gorilla in the room when it comes to Asia. For this reason and the fact Dash has little market penetration in Asia, I think the growth will be in Bitcoin Cash.
But look at the charts they do tell the tale!
Note on the left the difference in rebound between Dash' and Bitcoin cash. Cash rebounded higher. Also note the current correction and the spike we got in bitcoin cash recently compared to Dash'. To me that is someone buying a large block and price did not matter here. Also if you notice on the right hand chart, while the resistance level remains the same for DASH' the resistance level for Bitcoin cash has moved up a level! Nice a rising support line.
Now this does not mean I'm buying here as I still want things to play out, but if Bitcoin cash shows solid support at this level I'm adding. Dash' on the other hand I want to see it fall back to the next level before adding or show some kind of movement. Dash is not tradeable in my opinion and I'm not adding here either! Bitcoin cash could be a play to the long side, but we could also retest the lower support level in red, and as there are better setups I think I will pass. But for the long term I'm adding a little here and hopefully will get an opportunity one more time to add lower.
Let's look at some facts:
Bitmain Co founder is Wu Jihan - Chinese
Dash Founder is Evan Duffield - Not Chinese
Bitcoin cash and Dash are competitors in the space. But this is the reason I like BCH better!
Dash has a good presence in Europe and the America's but no so much in China. The Euro and the Dollar (along with the Yen) are considered the more stable world currencies. But China and other asian countries their currencies tend to fluctuate which is the reason the chinese are one of the biggest hoarders of gold! We also know that China is totally focused on Chinese businesses and the Chinese Business person. They create numerous regulations to give them an edge in all aspects of doing business. Note very little market penetration into China with DASH.
As Bitmain is a chinese mining company, and China is the 1000lb Gorilla in the room when it comes to Asia. For this reason and the fact Dash has little market penetration in Asia, I think the growth will be in Bitcoin Cash.
But look at the charts they do tell the tale!
Note on the left the difference in rebound between Dash' and Bitcoin cash. Cash rebounded higher. Also note the current correction and the spike we got in bitcoin cash recently compared to Dash'. To me that is someone buying a large block and price did not matter here. Also if you notice on the right hand chart, while the resistance level remains the same for DASH' the resistance level for Bitcoin cash has moved up a level! Nice a rising support line.
Now this does not mean I'm buying here as I still want things to play out, but if Bitcoin cash shows solid support at this level I'm adding. Dash' on the other hand I want to see it fall back to the next level before adding or show some kind of movement. Dash is not tradeable in my opinion and I'm not adding here either! Bitcoin cash could be a play to the long side, but we could also retest the lower support level in red, and as there are better setups I think I will pass. But for the long term I'm adding a little here and hopefully will get an opportunity one more time to add lower.
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