How To Survive The August 1st Bloodbath. Simple!
So on August 1st, 2017 Bitcoin will be launching Segwit2x which is the split of the Bitcoin blockchain because of high fees and slow transaction times. Because of Investor uncertainty this market is going to crash pretty damn low in my opinion. On forums i've seen people predicting bitcoin to drop down to 1500$-1000$.
I'm going to tell you a very simple way to survive this huge market crash that is coming up. Hold, hold, hold, hold, hold, hold, hold and buy, don't sell!. I can't stress this enough. Investors think their losing money when the market goes down, but in reality you aren't losing any amount of coins. The value is going down temporarily and it is 99.999999% bound to go back up to where you are in profit in the future.
This market will be worth trillions of dollars in the future. The only way you are going to beat this market is by holding and buying. Simple.
Quick tip, buy ripple, lots of banks testing their protocol.
STEEM is cheap right now. So why not convert to STEEM temporarily? Then buy back BTC when at 1000$. Make 250% profit in the recovery process...
It's under maintenance on Poloniex..
so do not use poloniex :D
Your post it's worth to read, I think that your strategy and logic is sound enough to me, gotta go buy some bitcoin after the plunge :)
If you are scared or nervous about this August 1st "Y2K" fear and doubt, you should reinvest your current bitcoin into steemit. Let's say bitcoin did plummet in price or cease to exist at all (highly unlikely), if you put your bitcoin into steem i feel you would be pretty safe off. That or HOLD ONTO YOUR BITCOIN in an OFFLINE Wallet that supports both "versions of bitcoin". You NEED to be in control of your OWN wallets private KEY. Do not trust an exchange or online wallet that just gives you a password to see your funds and not an actual key. About three things could happen around August 1st if you DO NOT control your own wallets key. 1) Your bitcoin balance will stay the same and you will be able to use that bitcoin token as usual. 2) Your bitcoin balance will be zero over night since your wallet chose the wrong chain or the exchange you were on made them poof 3) Your wallet provider will offer you a chance to keep your token balance on both chains or to choose one of them, tho can we really trust that our coins are in the best interest of the online wallets or exchanges. Just my 2 cents. Thank you for your post @cryptotraderx
I wish i could upvote you more, you took a lot of time on this comment and you are very right. I'll send you a little SBD :)
I just noticed that you came thru on your word. I followed you Alex. Also noticed that i must be the only person you have sent SBD to before so that means alot. And yes @rickmf maybe there is some other coins to invest in but to me the fact that we can check peoples wallets here and see hundreds of thousands of dollars if not millions stored on steemit.. seems like a good invesment if you do not want to cash out your btc to usd. Most other alt coins move dramatically when btc does. Steem seems to stay semi constant, maybe because people are using steem for a purpose and not just sitting in a wallet as only a meme coin or some coin that does nothing. To each their own. I believe in steem and id put my btc to steem if i was afraid btc would dump or disappear or yeah.. but btc should be fine and probably only go down a little because of FUD... we all need POE ( Positive Optimistic Energy) think positive everyone <3
"you should reinvest your current bitcoin into steemit" noooo way. plenty of other better options. Steem to risky at this point.
https://twitter.com/bitchimlying
@rickmf don't take advice from this guy, he really does not know cryptocurrency at all
Yes. After it settles down, it's up up up and away!
good article I followed you, please follow me back
there is couple options
I believe in long term holding only 1 every 1000 people is using or trading cryptos
it is a MASSIVE potential for grow!
buy now and be rich in the future we are on the beginning of this journey
Please follow me and check my blog
Maybe buying USDT is not such a good idea.
right? Why buy USDT with USD? Makes no sense
To hold the value of your dollar buddy, and be able to put it back into another crypto when the time is right, you don't really know much about cryptocurrency
why not just hold usd?
Thank you! one of my pro tips! or just convert to bitUSD or some other backed token and wait it out.
I agree, but the problem is, and you know it, not everyone is going to hold.
Thats not a problem at all. We need sellers too.
Some people will certainly panic sell, others will sell to take short positions and take advantage of the opportunity presented by others panic selling. If there's enough downward momentum, it could also trigger cascades of margin calls and stop losses - those really big red candles that develop unusually quickly in some of the recent corrections.
Thank you brother, that is my strategy as well, hold, hold, hold and hold and buy some more when it dips low!
The hard fork does not happen on August 1st.
I think if you're looking to make money, the best move would be to buy as much bitcoin as possible between now and then. No matter what, you will get a 1 for 1 reward if it splits. Both coins are bound to go up but don't expect to be in a Lambo over night.
With all due respect, and in almost any other case I would agree with you, but this is classic Regret Aversion Bias. A prudent investor will recognize that the consequences of the events surrounding the UASF/SegWit controversy are completely unpredictable, regardless of what the various pundits claim to know.