Will BTC price surge when Coinbase starts accepting BCH withdrawals?

hatshepsut93

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Quote from: davis196 on October 17, 2017, 06:23:09 AM

Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

This will pump bitcoin cash,it won`t dump it.If such a major player like Coinbase shows support to bitcoin cash,this builds more trust,which means that more people will buy BCH.
This might create some speculation bubble for BCH,and when the bubble bursts,some people might return to
the real bitcoin.

It will definitely cause a dump. Coinbase will release BCH not because they support it but because it's their duty as custodian, and they will just let people move their BCH from the exchange if they have any due to hodling coins during the fork - it's not the same as listing it. BCH survived still because most people didn't want to bother dealing with its software to get some additional 6% of their Bitcoin value - Bitcoin itself is growing by dozens of percents per month. But if Coinbase will release BCH coins, it will increase the actual supply of BCH since there won't be any need to go through the process of claiming it, so it will crash the price unless Jihan Wu and Roger Ver will decide to pump their stillborn creation again.

As for BTC, it simply doesn't care about altcoins, because Bitcoin is the king of crypto.

xFGND

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I'm going to expect a 10-15% pump from whales. Jihan Wu and Roger Ver still have a lot of money left in bitcoin, and are going to be eating up sell orders like crazy in hopes that people go full FOMO.

aencarnaci

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Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

It depends on the amount in the market that is being dumped. However, if it is a huge one, it would surely have a high impact on the bitcoin's value if the owners dump it for BTC and they decide to hold it. That is just the best scenario or they could just dump it for BTC and pump it into other ALTS that may be of more interest than BCC.

exstasie

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Quote from: Torque on October 17, 2017, 12:17:44 PM

It's possible they won't just trade their bch for btc, but perhaps other alt coins as well.

Either way though, I don't see any path for bch other than into the ground.

I tend to agree. But my experience of perpetually thinking Litecoin would die has taught me to keep an open mind. It's interesting to see that Roger Ver has really gone off the deep end promoting Bitcoin Cash. He put out a press release saying that Bitcoin.com and other media outlets like CalvinAyre.com and CoinGeek consider "Bitcoin Cash" to be "Bitcoin." He's really burned his bridges now... Peter Todd is now calling him a scammer, straight up.

Still, according to Greg Maxwell, Roger's publicly identified coins haven't moved. So he's not putting his money where his mouth is.

HeRetiK

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I doubt that Coinbase allowing BCH withdrawal will have much of an impact on BTC's price. With BCH we might actually see a short-term pump, as it will draw attention to BCH and I doubt that people receiving their BCH from Coinbase after such a long wait will immediately sell them. Mid- to long-term it's likely to put pressure on BCH's price though.

Quote from: davis196 on October 17, 2017, 06:23:09 AM

Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

This will pump bitcoin cash,it won`t dump it.If such a major player like Coinbase shows support to bitcoin cash,this builds more trust,which means that more people will buy BCH.
This might create some speculation bubble for BCH,and when the bubble bursts,some people might return to
the real bitcoin.

Coinbase being harassed into allowing BCH withdrawals after initially explicitely stating that the they won't bother with it, urging their users to withdraw their coins before the fork, is not exactly Coinbase showing support.

I guess it will mostly come down to whether Coinbase only allows withdrawal, or also enables trading. The latter would be a positive signal towards BCH. Enabling withdrawal only... not so much.

RoommateAgreement

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Bazinga!

Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

i think it depends on what features will they add.
if it is only withdrawal of BCH then i am sure there will be 0 effect on bitcoin price but BCH price will drop.

if they also add markets for BCH trading then things will be different. because if they only add BCH/BTC pair, bitcoin price may go down a little since many will want fiat ($) and to get that they have to sell for BTC and then sell BTC for $ and that can cause bitcoin drop.
but if they add BCH/$ market then again there will be 0 effect on bitcoin price but BCH price will drop.

pearlmen

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Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

I believe yes because that has been the pattern and u am expecting that its will continue however there might be some disruptions because there are two expected forks before January which means alt coins which are popular are expected to get pumped with BCH a part of the coin which will then increase the price so coming January 1 when coinbase will do it crediting, some people might just decide to wait for the price to higher or even convert to cash straight.

beerlover

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Quote from: davis196 on October 17, 2017, 06:23:09 AM

Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

This will pump bitcoin cash,it won`t dump it.If such a major player like Coinbase shows support to bitcoin cash,this builds more trust,which means that more people will buy BCH.
This might create some speculation bubble for BCH,and when the bubble bursts,some people might return to
the real bitcoin.

How will releasing the Bitcoin Cash to the users pump BCC's price. I believe this coin is already in circulation and the users are just going to have the chance to withdraw what is already in existence from what they got from their fork, not like it is a fresh new buy.

If they decide to hold, then it might not really have huge impact on BCC as the value remains, unless we see another huge pump for buy ins. However, anything that causes another huge dump most especially if it is a great number of BCC supply, it will definitely bring down the value.

Torque

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It's possible they won't just trade their bch for btc, but perhaps other alt coins as well.

Either way though, I don't see any path for bch other than into the ground.

"Alas, poor Yorick..."

ragnar0k

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Quote from: Lieldoryn on October 17, 2017, 06:38:46 AM

Bitcoin cash I got for free so I'm not going to sell them. I do not mind losing them. It's a chance to earn money if those coins will win a niche in the market. Honestly, I have more confidence BTH than ETH. Now it seems funny but time will tell.

If ETH succeeds with PoS, it will easily jump 200%... Stacking and eth reduction will do the rest, might even catch up with BTC market cap
At least, that is the only reason I am hodling a 10% on ETH Tongue

Lieldoryn

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Bitcoin cash I got for free so I'm not going to sell them. I do not mind losing them. It's a chance to earn money if those coins will win a niche in the market. Honestly, I have more confidence BTH than ETH. Now it seems funny but time will tell.

n0ne

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Quote from: davis196 on October 17, 2017, 06:23:09 AM

Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

This will pump bitcoin cash,it won`t dump it.If such a major player like Coinbase shows support to bitcoin cash,this builds more trust,which means that more people will buy BCH.
This might create some speculation bubble for BCH,and when the bubble bursts,some people might return to
the real bitcoin.

Yes, when such a large scale market circulation gets initiated automatically the value of bitcoin cash will gets pumped up. Also the user base investing on bitcoin cash will surely keeps on added high. Also with assurance we cannot conclude, because similar bubble happened once after splitting but the same didn't sustain for a long time period.

davis196

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Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

This will pump bitcoin cash,it won`t dump it.If such a major player like Coinbase shows support to bitcoin cash,this builds more trust,which means that more people will buy BCH.
This might create some speculation bubble for BCH,and when the bubble bursts,some people might return to
the real bitcoin.

fedoralite

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Quote from: Fievel on October 17, 2017, 04:07:06 AM

Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

NO! And how could a BCH withdraw can affect bitcoins to get pump? while the possible scenario I've seen on that matter is the dumping of there coins and maybe those BCH holders will exchange their coins to BTC and then exchange it with fiat thats why I also think that case will contribute on little dump when january 1st will came.

DaMut

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It's all depend on the situation,but more likely there will be another pump created by whales for BCH,
but in the end it will boost the Bitcoin itself,because no matter what is it as long as it's called 'Alternative Coin'.
it's like others,and only have 1 purpose which is to get/earn Bitcoin in the process.
basically every year Bitcoin will always hit another ATH,but right now we're already hitting that point.
Bitcoin will start to slow down while every alts will be pumped hard next year,
and then Bitcoin make a move after a few months

Fievel

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Coinbase will open up for Bitcoin Cash withdrawals on January 1st, 2018. Will users dump their Bitcoin Cash into Bitcoin, and do you think it'll boost Bitcoin's price in any significant way?

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