My Bitcoin Strategy For August 1st.
Everyone keeps asking me about my strategy for the August 1st Bitcoin fork and honestly I don't have one. The Dood's just going to sit back and watch. If opportunity rears its head in the form of a price rise or dip I may or may not take advantage of it.
I got rid of most of my BTC ahead of July 31st. I kept a little trading BTC that I use for my altcoin trading. I also ended up buying a little BTC yesterday, just a bit becaus I got a case of FOMO and decided I wanted a little BCC for free. LOL. Who doesn't love free coins.
I've been watching both the altcoin and bitcoin markets today, and for the most part I'm just monitoring charts. I like how I'm positioned and it will put me in a good position to take advantage of any opportunities that might present themselves on August 1st. I've got USD for BTC purchasing, some BTC to trade with, and enough to buy some BCC if the right price presents itself or a large enough dump ensues :)
As far as BCC is concerned. If the price climbs I may sell, and if everyone dumps it down to nothing which is what most expect, The Dood plans on buying a little. I may hodl, I may trade the volatility. If it skyrockets back up I may sell right away.
Like all my trades I have to see how it feels. If it feels right I may buy a bunch and hodl. In the meantime I plan on watching the exchanges that list it carefully and see how the market moves. Trade volume and price will obviously play a huge factor in any decision I make.
I honestly expected a little more volatility in both the bitcoin and altcoin markets. I am real happy that this doesn't look like the crypto armagedon so many people were predicting. For the most part my strategy right now is to do nothing and just watch. Opportunities always present themselves. When they do... Be ready :)
So for the tweeted version, "Sold most BTC, bought back a little for BCC, watching markets, waiting for incoming opportunities."
Your "strategy" was the same as mine, "fuck Bitcoin for now, altcoins work fine", I know not an exact quote, but I get you lol. I have no doubts a lot of people will be getting rich tomorrow, and a lot of people are going to be losing out. Just like every other day in crypto.
LOL. I hear you. I've definitely had a "fork this" attitude the last couple weeks with bitcoin. It is the dominant trading pair currently for alts so there doesn't seem to be any getting away from it for the time being. I think the best part about August 2nd is that August 1st will be history and hopefully there will be no more shenanigans and we can get back to business as usual.