Wait...will Bitcoin have another Fork after Bitcoin Gold in November?
As an ordinary person, I have gone through many failures and regrets in my life until 2012. Luckily, failures turned into great lessons, and I started to make great decisions since 2013. One is start investing in CryptoCurrency.
As some of you are already aware, yes, it seems like Bitcoin will have another fork after Bitcoin Gold in November. See below. Click here for more related news.
Here is the fundamental analysis in economical perspective on future Crypto market.
- Bitcoin's demand has been going up last few days as investors wanting for free Bitcoin Gold
- Bitcoin's demand will continue to be strong through November wanting for free new version of Bitcoin
- As long as new money don't enter the market (China/Institution/etc.), money will come from alt coins which will give down pressure to alt coins through November
Based on the analysis, I believe smart money will start taking profits by selling Bitcoin as price goes up and buy alt coins as price goes down. However, we all know by now that Crypto market do not behave in a way that make any sense. Hopefully, all current investors (early adopters in my opinion) have bright future. I welcome readers to leave comments not only asking questions but also providing other opinions to me and to all readers.
I have been noticing bitcoin going up slightly every day and all the other alt coins going down because as more and more people learn about bitcoin gold, they will sell their alt coins to buy bitcoins. They're hoping that "history will repeat itself" as holders of bitcoins in participating exchanges at the last fork (bitcoin cash) not only benefited from getting 1 bitcoin cash for every bitcoin AND they also benefited from bitcoin value going up. On top of that, bitcoin cash went up all the way to $1000. So assuming that someone had one bitcoin before the fork (around $2800 on July 31st), they'd get 1 bitcoin cash which peaked to around $800 on August 19th. Bitcoin also went up to $4000 - now, obviously I'm picking the highs as hindsight is 20/20 but bear with me here - $2800 in one bitcoin going up to $4000 is a $1200 gain plus the $800 gain on bitcoin cash if that person were to sell it. That's $2000 profit from a $2800 investment in about 20 days (July 31 to Aug 19). Now this is happening again, but will the same scenario take place? The focus is on bitcoin and bitcoin cash that the opportunity right now lies on the alt coins. These alt coins are at depressed prices right now and as we get closer to the hard fork, we might see another "sale". In my opinion the safer play is buying the alt coins while they're down. Of course only buy the ones you believe in.
Exactly! Smart money will be buying alt coins when everyone is selling!
@tytran bitcoin has exploded today and we are almost in 6k, what do you predict in the next few months? @gold84
I think the whole BT1 vs. BT2 is going to confuse a ton of people. The segwit2x hard fork is looking much more like a political 'attack' the more I spend time learning about it. But only time will tell which one gets to be called Bitcoin and I hope it's the current chain and not the 2x hard fork. But that is just an opinion and we all have those. Good article <3
Thank you. We will see what happen. I personally don't want to sell my alt coins as it goes down since it is completely opposite to what smart money will do.
Oh yes, never sell when it's going red. when everything is going red that means it's on sale!