Why The Split Tommorow Should Not Worry You
Nobody knows what is going to happen tomorrow. We are hours away from a split and a bitcoin change that has been debated about for years. The price could go up or down or sideways. But in the end this is a change that should help the network and the other coin that is being created can stand on its own. Unless something drastic happens, or there is some unforeseen problem, I see the market going up in the long run. Here are the three options that can happen.
PEOPLE IGNORE OR SELL BITCOIN CASH
Maybe nobody mines bitcoin cash. Or everyone sells it day one and the price plummets. If this happens people will be spending some of the money on bitcoin and maybe some alt coins. This can cause a positive push for these coins and then with the drama behind us and a clear winner pick (plus the faster transactions) bitcoin should go up.
PEOPLE SUPPORT BITCOIN CASH OVER BITCOIN
I do not think this will happen but there is a chance. If this happens bitcoin will drop wildly in value and bitcoin cash will go up making it the new bitcoin. This will take some time but if people become comfortable with it and adopt it as they did bitcoin it might see the same growth. Remember everyone who has bitcoin gets bitcoin cash so they cans shift over. But with all the work that has been down to integrate bitcoin into the mainstream I do not think this will happen.
PEOPLE SUPPORT BOTH
This will slow down the growth of value. If people support both this will split the value of the coins. There is only so much capital to go around. But if this happens I still see growth in the long wrong, just slower as there iare two coins that people are invested in. And with two large coin markets it will make the cryptocurrency world more stable in a way.
There is also the chance that bitcoin cash is just treated like an alt coin and it has little effect on bitcoin. Either way, personally, I am optimistic about the market.
*my upvotes/rep disclaimer: https://steemit.com/steemit/@whatageek/my-steemit-account-where-i-stand-on-bots-self-votes-and-multiple-account
once we get past the split and everything settles down I think we will go on a huge bull run
my thoughts as well. the FUD is holding us back for weeks now
I'm conflicted on what will happen....either it's a bull run or a "buy the rumor, sell the news" type of dump.
Almost feels like a dump is more likely, with people jumping out of bitcoin and back into alts.
Thanks, i always find your posts reassuring!
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