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RE: STEEM CAN DROP BACK TO 0.0001 BTC IN THE FOLLOWING MONTHS - HERE'S WHY
I believe people are selling altcoins to buy BTC - hence the rise in BTC. However it could possibly be that they will dump BTC after Aug 1 to buy BitcoinCash. Therefore, we could see BTC tumble after Aug 1.
On the other hand, people could be buying BTC to support the original coin. If everyone holds after Aug 1 - then the price will only continue to rise. I hope this later scenario will be the case.
In my view, techinical analysis is indicative but the behaviour of people is fundamental. :) Hoping it is not too much of a roller ocaster ride - hang on everyone.
BitcoinCash Futures are now being traded on Via BTC and HitBTC.
People are unpredictable. Trying to read people's minds is impossible. Not to mention that there are BIG traders behind the markets with BIG money who buy and sell against the majority but because they have BIG money, they are the main movers even though they are very few in numbers. They're usually known as price manipulators. You can't read their mind so it's best to stick with the chart and try to analyze the data without any emotions/bias and come up with predictions :]