As I am sure you've heard by now but Bitcoin is going to have a little brother, Bitcoin Cash.
Now whether this will be a good thing or bad thing only time will tell.
Let's take a look at some factors to help us decide whether or not this will be a positive note or negative one and most importantly how we can prepare for it!
Bitcoin is the King and parent of all cryptocurrencies, we know this but what happens when you introduce a second that claims to do all the same things the first can do but faster, safer and cheaper?
That spells massive disaster for big brother BTC.
However!
The truth is that Bitcoin cash has a LONG ways to go before it will be universally recognized as the new big cheese simply for the fact that most brokers are not willing to sponsor it as of yet.
Bitcoin on the other hand is the #1 most traded currency on all brokers every single day of the week.
The second thing to look at is the circulating supply. There is no real number yet? no max supply, nothing, again this is a strong point for big brother because we know he has a cap.
Third, on August 1st when all brokers will shut down withdrawals and deposits of BTC we know one thing will be a definite. ALL Bitcoin will be held up in traffic which will protect the price from plummeting to the pits of Dante's inferno.
It's not much but my theory, and that's all it is, a theory! is that Bitcoin will rise regardless if BCC comes out strong or not, BTC will remain King if not for anything else, the fact that IT is the main coin when trading all other cryptos and as time has proven, ETH just cannot compete when it comes to the security of BTC and thus ETH will NOT replace BTC at this time.
If Eth can stop being hacked every second night like a cheap hooker than MAYBE just maybe it may stand to regain some of those high numbers it once hand before.
Litecoin on the other hand? that may be interesting as Litecoin is an almost carbon copy of bitcoin but faster, cheaper and just as safe not to mention, segwit and lighting network ready!
I would love to see litecoin be the coin to dethrone the king.
Let me know your thoughts in the comment section below.
As always,
Wishing you all the Best
G.H