Topic: Price analysis of GRS before and after the B2X fork (Read 218 times)
GRS was a big coordinated pump by a group of people (won't name it here) who realized the new 'hype word' on the cryptomarket was "asic resistance". GRS basically adds no value that other coins that came before it already have... I'd like to listen to your arguments and be proven wrong, but that's my opinion for now.
After two weeks, so you stand by this analysis?
Here is my opinion on GRS value before and after the B2X fork:
GRS will steadily increase to its ATH starting from 9th Nov, 2017; and after the Nov. fork (until the end of Dec) the price will skyrocket to 5 to 10 USD levels and beyond. Here are the few of the many reasons for my claim:
1. On 9th Nov, 2017; Korean exchange upbit will allow new subscribers to its exchange. https://twitter.com/UPbitExchange/status/926253055288504320. Since 1st Nov, 2017; they had halted registration of new subscribers due to their server overload due to enormous public interest for registration. In the 1st week of their launch they already became the 2nd largest domestic exchange in Korea surpassing Coinone and Korbit (largest domestic exchange being Bithumb) https://upbit.com/service_center/notice?id=37. It is to be noted that upbit is first altcoin exchange in Korea which is run by kakao talk (a messenger like whatsapp used by 95% of korean people). People trust Kakao talk’s products (unlike Bithumb which was hacked previously). GRS (being Asic Resistant and its amazing wallet infrastructure) held top position in terms of trading volume for significant amount of time on upbit and its interest in Korean people have increased a lot. Hence, expect a big increase in GRS trading volume starting from 9th Nov, 2017.
2. Secondly, Upbit is launching GRS/KRW trading pair. Timeline is not given on their website but it is widely anticipated to be added soon. This is big news because in all the 3 popular Korean exchanges (bithumb, Korbit, coinone) there isn’t any bitcoin pairing and Koreans in general are not very used to trading in bitcoin pairs. GRS/KRW trading pair will not only bring more volume to GRS but also will be much more convenient for traders. This trading pair could be coming any time from now.
3. Bitcoin gold will soon be allowed to be withdrawn and/or to be traded on various exchanges very soon. https://www.fxempire.com/education/article/complete-guide-exchanges-support-bitcoin-gold-448791.It will be further sold for other established ASIC resistance coins such as GRS which has amazing wallet infrastructure already in place. Currently, there are security issues with its listing in many exchanges such as coinbase and other exchanges. Bgold is disliked by bitcoin community and lacks in development. It would take long time for it to reach to the same level as GRS is now.
4. For people who have concerns if GRS could further reduce in value before the Nov. fork; It is to be noted that just in the past week; GRS's reddit community has grown significantly. For instance, its reddit page’s subscribers rose from 400 about 2800. It’s market cap has skyrocketed from about few million USD to 50 million USD in a week. It, also recently, got media coverage which led to its further exposure to new people. Majority of the people, including me, are staunch believers in GRS technology are long term hodlers. Given this situation, I believe that it is not expected to dip further from its current levels.
5. Lastly, I have been following many crypto traders who are suggesting to buy GRS (and other alts) before/around or right after the B2x fork because alts are expected to rise in value after that. However, you wouldn’t be able to purchase alts right after the fork due to the issue of replay protection of B2X. You might end up losing all your bitcoins. https://www.fxempire.com/education/article/complete-guide-exchanges-support-bitcoin-gold-448791. Moreover, there is a lot of confusion and fear among the bitcoin community as to which coin will be the real bitcoin and given the issues of replay protection (not been activated on B2x) along with Bitcoin cash claiming to be the real bitcoin. This could get pretty complex and bitcoin’s value could collapse to extremely low levels. That means even if you get B2X; the combined value of BTC and B2X could be lower than the current bitcoin’s price. Do you really want to take this chance or do you want to make significant gains through investing in people’s coin…your choice!
This is my humble opinion. If anyone disagree or would like to add more; i would love to hear for a constructive discussion
GRS will steadily increase to its ATH starting from 9th Nov, 2017; and after the Nov. fork (until the end of Dec) the price will skyrocket to 5 to 10 USD levels and beyond. Here are the few of the many reasons for my claim:
1. On 9th Nov, 2017; Korean exchange upbit will allow new subscribers to its exchange. https://twitter.com/UPbitExchange/status/926253055288504320. Since 1st Nov, 2017; they had halted registration of new subscribers due to their server overload due to enormous public interest for registration. In the 1st week of their launch they already became the 2nd largest domestic exchange in Korea surpassing Coinone and Korbit (largest domestic exchange being Bithumb) https://upbit.com/service_center/notice?id=37. It is to be noted that upbit is first altcoin exchange in Korea which is run by kakao talk (a messenger like whatsapp used by 95% of korean people). People trust Kakao talk’s products (unlike Bithumb which was hacked previously). GRS (being Asic Resistant and its amazing wallet infrastructure) held top position in terms of trading volume for significant amount of time on upbit and its interest in Korean people have increased a lot. Hence, expect a big increase in GRS trading volume starting from 9th Nov, 2017.
2. Secondly, Upbit is launching GRS/KRW trading pair. Timeline is not given on their website but it is widely anticipated to be added soon. This is big news because in all the 3 popular Korean exchanges (bithumb, Korbit, coinone) there isn’t any bitcoin pairing and Koreans in general are not very used to trading in bitcoin pairs. GRS/KRW trading pair will not only bring more volume to GRS but also will be much more convenient for traders. This trading pair could be coming any time from now.
3. Bitcoin gold will soon be allowed to be withdrawn and/or to be traded on various exchanges very soon. https://www.fxempire.com/education/article/complete-guide-exchanges-support-bitcoin-gold-448791.It will be further sold for other established ASIC resistance coins such as GRS which has amazing wallet infrastructure already in place. Currently, there are security issues with its listing in many exchanges such as coinbase and other exchanges. Bgold is disliked by bitcoin community and lacks in development. It would take long time for it to reach to the same level as GRS is now.
4. For people who have concerns if GRS could further reduce in value before the Nov. fork; It is to be noted that just in the past week; GRS's reddit community has grown significantly. For instance, its reddit page’s subscribers rose from 400 about 2800. It’s market cap has skyrocketed from about few million USD to 50 million USD in a week. It, also recently, got media coverage which led to its further exposure to new people. Majority of the people, including me, are staunch believers in GRS technology are long term hodlers. Given this situation, I believe that it is not expected to dip further from its current levels.
5. Lastly, I have been following many crypto traders who are suggesting to buy GRS (and other alts) before/around or right after the B2x fork because alts are expected to rise in value after that. However, you wouldn’t be able to purchase alts right after the fork due to the issue of replay protection of B2X. You might end up losing all your bitcoins. https://www.fxempire.com/education/article/complete-guide-exchanges-support-bitcoin-gold-448791. Moreover, there is a lot of confusion and fear among the bitcoin community as to which coin will be the real bitcoin and given the issues of replay protection (not been activated on B2x) along with Bitcoin cash claiming to be the real bitcoin. This could get pretty complex and bitcoin’s value could collapse to extremely low levels. That means even if you get B2X; the combined value of BTC and B2X could be lower than the current bitcoin’s price. Do you really want to take this chance or do you want to make significant gains through investing in people’s coin…your choice!
This is my humble opinion. If anyone disagree or would like to add more; i would love to hear for a constructive discussion
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