Saturday, October 21, 2017

Bitcoin Hard Forks Will Determine Future Crypto Prices

Just last week, everyone found my video absurd where I talked about the idea of Bitcoin selling off after the hard fork and that altcoins were the preferred play. Now this contrarian opinion has rapidly become a staple among many investors: It's ironic how fickle cryptocurrency investors can be. Everyone seems to be on board with the idea that Bitcoin Gold will be worthless now, which means more people are starting to anticipate a Bitcoin selloff after the hard fork.
This has led me to have some concerns. Previously, everyone perceived Bitcoin Gold as essentially a free dividend. Now everyone is perceiving it as a flop. As more people expect altcoins to go up following the fork, it becomes less likely that this result happens. However, I still favor this strategy given Bitcoin's continued pricing strength which has validated what I expected so far (for Bitcoin to appreciate going into Oct 20th - 24th).
The outcome of this hard fork will affect what everyone expects to happen in the Bitcoin 2X hard fork (similar to how everyone was affected by the Bitcoin Cash hard fork and the concept of "free money"). What do you expect to have happen?
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Item Reviewed: Bitcoin Hard Forks Will Determine Future Crypto Prices Rating: 5 Reviewed By: BUXONE