How will bitcoin fork segwit2x, affect the crypto price in general?
The bitcoin fork is estimated to happen about the 17-11-2017, but what will happen until then?
When looking on twitter, reddit, facebook and so on, you will notice there are 2 sides to the segwit2x, those that support the fork, and those who oppose it. They er now starting to argue in a big way, and this is already shown in the bitcoin price, and it's not over yet.
This is actually just the beginning, and moving on we will just see more more bad rhetoric in the discussion, and the more they discuss the more the price will go down. This is just not very construktiv, I dont have the technical knowledge to understand if segwit2x will make bitcoin more centralised, as one of the opposing people say.
Lets face it many of us that own bitcoin, love the idea of an uncentralized currency. And that is why we have it in the first place, are they destroying bitcoin no they are not, but they are destroying the original vision of bitcoin. For now and moving on the price will go down, due to the debate, and then most likely the price will go up rapidly, the fork is coming, and that means “free” coins.
What will happen to alcoins?
If you trade altcoins, you know that the price relationship between bitcoin and altcoins are connected. So the real question here is should you sell your altcoins, and buy in at a later time? Personally I don't, I just HODL but it will hurt when the altcoins start to bleed out. What we saw earlier this year is nothing compared to what is going to happen this time around. But I will recover my loss over time.
Remember the last fork? Many new people to the bitcoin area, did not know the affect a fork has. Suddenly you have the same amount in a new coin, as you have bitcoins. So how many this time around will dump the altcoins, so they can get bitcoins before the fork, my bet is a lot.
Should you go for more bitcoin before the fork, not sure that is that great idea this time, because as i understand it there won't be any replay protection this time around and eventually you can end up loosing instead of gaining. https://themerkle.com/what-is-a-bitcoin-replay-attack/
To wrap it up, the coming month will be ugly both in the debate, and the price of bitcoin and altcoins. So embrace yourself to see your portfolio to go down i a way you haven't seen before if you are relatively new to the crypto space. If you have over invested, I would recommend you to sell, until you have reached a level of possible loss, you are willing to accept.
