To sell, or not to sell, that is the question - Bitcoin countdown is on.
As expected the price of Bitcoin is higher today and should receive some support from the Asian markets this evening as buyers take advantage of the "free" Bitcoin Cash, we may even see $3,000, but the question is what happens to the price of Bitcoin on August 1? I am leaning towards selling before August 1 with the intention of getting back in at a lower price, I see more downside than upside potential for Bitcoin after the fork in the short term, but could get this completely wrong. I appear to be in the minority as the majority wait for their free 13% Bitcoin Cash bonus. The higher the price goes tonight the more I will be tempted to sell. What are you doing?
I have no interest in Bitcoin Cash, if Bitcoin Cash can replace or even threaten Bitcoin then there is no future in cryptocurrencies in my opinion as the markets will be permanently diluted by alt coins.
The link to my post from yesterday is below, this explains my reasoning for considering selling before August 1.
The value of Bitcoin and Bitcoin cash post fork should roughly equal the existing value now, you can't create value out of thin air. However I see the total market cap of both dropping below the existing market cap as some level of fear and uncertainty takes hold. As long as Bitcoin comes out on top and Bitcoin cash acts like eth classic, BTC will then go back to appreciating.
So there is merit to selling and rebuying post fork. This also protect s in the crazy case of btc cash gaining traction, confusion setting in, money fleeing to eth and the flippening happening (note I put this at less than 1% chance).
Recently it is the traders and not the holders making the money, sometimes you have to follow your instincts.
Congratulations @realitycheck! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @realitycheck! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPunfortunately i have none, so i have no choice to make (-:
You will sleep better than most of us tonight then!
Congratulations @realitycheck! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP