People are mainly buying BTC to get free BCC, which in regular conditions would be a free 16% of the BTC value.
But what will do you do tomorrow?
There are three scenarios:
- BTC continues growing up, so the altcoins remain the same, everyone changes their BCC for BTC
- BTC and BCC drop and people move to altcoins
- BCC grows up quickly, BTC will drop as quick as BCC grows, altcoins remain as this last week
Which one is your bet? Have you prepared already for all of them?
My bet is on 2.
I believe either Bitcoin or Bitcoin Cash will drop to equalize the market because of the influx of new coins out of thin air. I'm investing on the dip, not holding any BTC currently, too risky IMO.
In either situation I'm ready, if they drop I'm not losing anything and I can profit investing on at the dip if it does drop, if they do go up and I catch it early I can also profit, and if BTC doesn't change and continues going up I can look to another altcoin to invest as it wouldn't really be worth it short term.
We'll see what happens though, good luck everyone!
You're very right. Truth is everybody will loose something momentarily, but the point is how to take advantage. As you say to use this drop scenarios to buy is a great option, but in order to do that is important to USD in your exchange ready to buy, and program some orders for very low values: 1500 BTC - 100 ETH just in case apocalypse comes
Haha exactly what I have, converted all my money invested into alt coins into fiat the other day and have been patiently holding on to that! (Even though I got greedy and may have put some in ETH when I noticed it started going up but I took it out already returning a bit...)
Good luck! Tell me how it goes :)
My Bet is 1 but with a twist.. As all coins are correlated to BTC movements, people will change their BCC for BTC and this will drive growth also on the other coins...
But BTC volume right now is much bigger than it should. There must be a correction coming at some point
Indeed but we will see as well a +17% from BCC.... Even if the volume is high because of the fork I think people will sell BCC with BTC and other coins...
I forgot a 4th option... nothing happends :) (6am 1st of August)
seems we got some ok gaining a bit everywhere... I was expecting a bit more action to be honest... But still good, we made money!
In the end no one of the three options was right. It was kind of business as usual :)
I think 3 is unlikely. I have a feeling option 2 will prevail.
I'm afraid it could be a continuous jumping between 2 and 1 until it stabilizes in 1
Hahaha that's a very graphic explanation
Do not make my bunghole angry!... You have any holio?