Pages:
Author

Topic: The highest risk/reward play this week - ZCL and BTCP - page 2. (Read 259 times)

member
Activity: 378
Merit: 28
For those unaware, ZCL is forking into BTCP on the 28th. ZCL holders get 1 BTCP for every ZCL they own. ZCL will dump incredibly hard post fork, so your profit is pretty much dependent on Bitcoin Private's opening price. If ZCL is $200 at time of fork, it means BTCP needs to open around $200 for you to break even. Technically no one knows what BTCP will open at, but going by previous trends, $300 seems like a low baseline, with $500 being reasonable as well.

Here's why this is a crazy play this week and why I'm personally pretty much all-in. Right now, ZCL is about $130, namely because Binance/Bittrex have not announced they are supporting the fork yet (which is not uncommon, Bittrex has waited as low as 2 days before to announce).

IF Bittrex announces support on the fork tomorrow, ZCL will easily moon 50% if not more. If they don't, you can either get out of the coin ASAP and maybe lose 10-20% or hold through the fork and take your bets on BTCP (which is what I'll be doing). You risk a relatively low amount of loss for a gigantic gain solely based on if they announce it or not.

With the market the way it is, this just seems like the correct play to me. The reward outweighs the risk so much. All it takes is one tweet that everyone expects to come (Bittrex not supporting it would be incredibly surprising).
Pages:
Jump to: