Everybody in the crypto world is wondering what will happen in 3 days. Much speculation and not many answers. In my opinion, I have no idea what will actually happen. With that said, here is how I'm approaching it...
I have sold all my alts and I'm all in with bitcoin. My logic behind this is simple in my mind. I believe people will will move away from alts to BTC in order to take advantage of the BCC coin split. My understanding is that most exchanges are giving 1:1. So if you have 100 BTC, you get 100 BCC and you keep both. My anticipation is that the majority will sell their BCC as soon as they are able as it is being viewed as just another alt coin. We all love profits!
Secondly, I believe the value of BTC will climb for the next three days, and perhaps reach a new all time high because of people moving from alts to BTC to take advantage of this.
Lastly, I plan on moving from BTC back to my favorite alts to take advantage of the lowest prices we have seen in months on these coins. I feel like alts will explode following the initial August 1st movements.
Bottom line:
I feel that once this gets sorted out with BTC, we are going to see further epic growth in the total market's value. I am a bull. I'm probably wrong so please comment below and give me your feedback.
Happy trading!
Probably your strategy is right, depending on when you started buying bitcoins and selling your alts. I just made a post about this as there is a bit more to it than that. Have a look if you like and make sure you get in to alts on time! In the meantime i upvoted you and will follow ;) https://steemit.com/bitcoin/@attalis/3-reasons-why-buying-bitcoins-now-from-your-alt-coins-is-a-losing-trade
I appreciate your feedback. I'll follow you back.
So what is the probable ratio it will get split?
& I have some bits in my wallet so what will happen to those?
My understanding is the ratio is 1:1. So if you have 10 BTC, you will also be given 10 BCC.
Great! If this happens how will my wallet notify me about BCC. How will I claim them?
Your guess is as good as mine.
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