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RE: Massive Triangle Pattern on BTC/USD Holds as Bitmain and Bithumb Give Statements on BCC (Bitcoin Cash)
Useful info. I wonder how it will affect BTC's price in short term. If these current value of BTC ($2770 at bitfinex) and BCC ($500 at viabtc) persist, 1 BTC will be equivalent to $3270 on the day of forking. If One can sell both of them at the market value, he can gain extra value based on BCC's market price (which is $500 at current market price). Should not it affects the BTC's value in short term? Long term effect may be negligible looking into price of ETH and ETC or, may be more complicated, who knows?
It's possible that the value of Bitcoin may dip a say or two ahead of BCC activating. The price of both chains could also start dumping hard as big whales start manipulating in the markets after BCC begins trading. There are so many moving pieces that it becomes impossible to predict what will happen on August 1. I would suggest everyone to just stay away until the dust settles.
I have another theory if BCC gets some traction and BTC's value stays stable. There can be a buying pressure on BTC on exchanges since anyone with BTC in wallet can have free BCC. Since big numbers of traders will be in sideline due to fork issue, if some speculators think this is an opportunity to get dividends (BCC), BTC's price can actually go up in short term during forking.