Bitcoin to Crash by Friday? Here is why

Rafael Badziag
Aug 23, 2017 · 3 min read

With the block #481878 (probably on Thursday), Bitcoin Cash’s special difficulty adjustment will be triggered again and it will decrease the mining difficulty in several steps to a level where mining Bitcoin Cash will become more profitable than mining Bitcoin. We are only 6 blocks away from it to happen. And when it happens, the majority of hashing power will move very quickly to Bitcoin Cash resulting in a possible Bitcoin crash.

Just yesterday, before its standard difficulty adjustment, Bitcoin Cash was mined by 45% of all available hashing power versus Bitcoin’s 55%. The mining difficulty was extremely low which increased the mining speed to ridiculously high level. Only that and the fact that there was no infrastructure in place which allowed the miners to easily switch between the chains, saved Bitcoin from loosing most of its hashing power to the competing chain before the mining difficulty was adjusted to a level that made Bitcoin Cash unprofitable.

This time it will be different: The infrastructure has been set up and is ready to give the miners choice of what they want to mine. They managed to switch back to mining Bitcoin only within hours yesterday, when Cash’s difficulty adjustment made it unprofitable to mine. So it is now much easier to switch and to react much faster to additional revenue opportunities. On top of it, mining Cash will be slightly more difficult this time, which will give it more runway to grab miners from Bitcoin’s chain before the difficulty gets harder again.

My prediction:
This time, Bitcoin Cash will manage to get over 50% of all the hashing power and surpass Bitcoin in that respect. It will take over most of Bitcoin’s mining power.

I am not sure how long it will last and what consequences it will have.
Will it lead to Bitcoin price crash? Will it have even more impact on Bitcoin’s blockchain or even on the whole cryptocurrency world? We will learn it before this Friday!

This comes in the most unsuitable moment for Bitcoin, just after long awaited SegWit activation. Instead of being much faster, the Bitcoin network will be a slug and will drag behind Bitcoin Cash’s performance just as SegWit gets activated.

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I am entrepreneur, speaker, writer and angel investor based in Germany. Some people call me the Napoleon Hill of 21st century, others — the Billionaire Magnet

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