Skyflowers.co [0036] - Run! It's August 1st! "Bitcoin Black Tuesday" Is Upon Us!
Bitcoin is maintaining a steady high despite the fact that it is August 1st, or "Bitcoin Black Tuesday". Despite the real possibility of a catastrophic technical disruption to the currency, bitcoin is maintaining its high largely due to the promise of free Bitcoin Cash to the equivalent of the Bitcoin you hold.
Free money is basically holding up the markets ( just like some other markets we know ). While it is working, it is a false prop. Free bitcoin will do nothing to stop flight from the currency and a fall in price if a technical glitch is even hinted at on an exchange.
While my earlier predictions of a price fall may seem "way off base", we are one computer glitch away from the ideas in that article becoming true. A fall is dangerously close, despite the false positivity caused by helicopter money.
Personally I hope all goes well and a disaster is averted. And prices remain high. That's good for all altcoins. But I can't help but feel we are in a dangerous place for the next few weeks or so and Bitcoiners may be sucker punched when a technical glitch becomes more important than free money to everyone. With everyones eyes on the free coins, how many will be in an a position to sell when their emotional reaction is to grab free money?
That scenario adds up to a perfect storm. And a more intense sell off than what I previously predicted.
Will "B2K" happen? Check out my other articles on August 1st and "Bitcoin Black Tuesday"
"Bitcoin Cash: The Plan To Fork Bitcoin Back Out Into The Real World."
https://steemit.com/bitcoin/@skyflowers/skyflowers-co-0029-bitcoin-cash-the-plan-to-fork-bitcoin-back-out-into-the-real-world
"Bitcoin Black Tuesday" on August 1st: A Lesson In "Investment Psychology"
https://steemit.com/bitcoin/@skyflowers/skyflowers-co-0031-bitcoin-y2k-on-august-1st-a-lesson-in-investment-psychology
Bitcoin Cash: What Will Be The Long Term Effect of Giving It Out For Free?
https://steemit.com/bitcoin/@skyflowers/skyflowers-co-0037-what-will-be-the-long-term-effect-of-giving-out-free-bitcoin-cash
Thanks,
Brendan Rohan - Melbourne, Australia
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