@Z1
Things I like about the BCHBTC chart - price very tight and really coiled - think of it like water going through a smaller and smaller tube until it just blasts out - bullish divergence on the RSI almost confirmed. Things I don't like about the BCHBTC chart - volume very dry compared to entry into the previous low in March. A key technical signal for a double bottom is an increase in volume at entry into the price level followed by volume into a price advance. The big question is - has supply completely run dry? https://www.tradingview.com/x/3E7sreqR/
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Doesn't bode well I think. BCH has been unable to generate liftoff at a time when BTC has been kinda stalled out.. defi coins getting it done. It just feels like no one wants to hold a coin that doesn't allow them to play the yield generation game (unless it's BTC).
You can get yields via smart bch but the real problem is that Bitcoin Cash solves the questions of the last bull run where the idea was that Cryptocurrency would actually used in the real economy. The use metrics are actually quantifiable and therefore lead to some form of valuation. The defi stuff is just pure speculation - you can’t have your cake and eat it which a what Bitcoin Cash holders want. They want to increase real world adoption while simultaneously wanting to be part of a speculation game.
SmartBCH might as well be called literally anything. To me, until it becomes an actual trustless sidechain, it isn't BCH. All it does at this point is put people's "locked" BCH at risk since Coinflex has control.
Yeah I really don’t like having any of my assets locked into an exchange - sounds like you’re not convinced about sBCH?
It'd be great if it was a true sidechain, but it's not. It'll be an absolute disaster for BCH if Coinflex decides to abscond with the money. I can see an "oops, we were hacked" article in the making..