1st Aug event: Possible Bitcoin pump? - page 3.

Denker

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Quote from: NUFCrichard on July 13, 2017, 08:52:42 AM

Buy the rumour, sell the fact is the old trading proverb.

In this case it would be sell Bitcoin before the possible fork, then on August 1st it would be time to buy, when the fact is know.
I can imagine that that would be the right way to go too, sell now, let the market fall due to uncertainty, then buy back low and wait for it to rise after the uncertainty is over.

Maybe the market pumps after you sold your coins.Then corrects down to a higher low as before and you still have to buy back in on a higher price.
Just because your assumption seems logical to you doesn't mean it will happen that way.
Therefore I would be really cautious with selling now.
Bitcoin always tends to react pretty strange when many people think this or that has to happen at a certain point in time.

NUFCrichard

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Buy the rumour, sell the fact is the old trading proverb.

In this case it would be sell Bitcoin before the possible fork, then on August 1st it would be time to buy, when the fact is know.
I can imagine that that would be the right way to go too, sell now, let the market fall due to uncertainty, then buy back low and wait for it to rise after the uncertainty is over.

AgonyPaid

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Quote from: BitcoinHodler on July 13, 2017, 07:13:27 AM

Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

actually most people are speculating "things are not clear" and because of that anything is possible.
the only reason for the price drop is the fear of a fork and a split because of it. but if that date comes and none of that happens, things will change fast from a drop into a big ass rise. because that "fear" that i told you about will no longer exist.

I think that this will happen. The closer the date of August 1 approaches, the more the newcomers will panic. But after this date, people will want to go back to bitcoin and buy coins. This will lead to a rise in price of the coin

BitcoinHodler

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Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

actually most people are speculating "things are not clear" and because of that anything is possible.
the only reason for the price drop is the fear of a fork and a split because of it. but if that date comes and none of that happens, things will change fast from a drop into a big ass rise. because that "fear" that i told you about will no longer exist.

bitllionaire

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Quote from: Humanxlemming on July 13, 2017, 06:16:22 AM

First of all I want to talk about the August 1 event where there would be a split on the mining and the bitcoin itself. It is something scary because of the alts and the bitcoins in your wallet might disappear. I've found an article saying that there would be a dump in bitcoin and altcoins. But the real thing here is that some of the bitcoins cannot be use because of the split it might become invalid.

i do not think that the price of bitcoin will fell down any more it is going to continue increasing from time to time and we can see that even in current situation the price of bitcoin is trading too much stable.

lumeire

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Quote from: bikerleszno on July 13, 2017, 05:36:50 AM

It can be time people will buy altcoins

The thing is most of the alts got their price hooked to BTCBTCBTC too. Except the big ones of course.

Variogam

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Quote from: favila on July 13, 2017, 05:15:20 AM

The real issue is whether you believe in a minority of users with no mining power being able to make any kind of significant fork.

Such minority chain with very little hashpower cannot work - its going to be attacked from every corner and no sane person going to use it. But kudos to these few people spreading propaganda and uncertainity their miority UASF BIP148 on 1st Aug can work, shorters sees profit so far because of their work.

Humanxlemming

sr. member

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First of all I want to talk about the August 1 event where there would be a split on the mining and the bitcoin itself. It is something scary because of the alts and the bitcoins in your wallet might disappear. I've found an article saying that there would be a dump in bitcoin and altcoins. But the real thing here is that some of the bitcoins cannot be use because of the split it might become invalid.

crazyivan

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Quote from: bikerleszno on July 13, 2017, 05:36:50 AM

It can be time people will buy altcoins

YES! That s why I dont get. If u re afraid of BTC split, FFS, buy alts. Dont buy sell alts and buy BTC.

maokoto

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I would not discard that completely. Perhaps even some exchanges will fight the withdraws of funds putting higher prices to compensate. It is very uncertain.

bikerleszno

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It can be time people will buy altcoins

favila

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I think there will be a pump because people will stop being afraid of a fork that will never happen.

Whether people withdraw to their wallets or not is irrelevant because if people really are afraid there will be lower supply yes but also lower demand. The real issue is whether you believe in a minority of users with no mining power being able to make any kind of significant fork.

OmegaStarScream

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If people are speculating a price dump Its because there is a chance of a chain split, If that happens some people will be interested in buying one coin while others buying the other one that what will cause the dump. If everything goes as planned and there is no chain split then I don't see any reason on why we should see a huge price decrease, maybe a little bit because some people will panic and sell. A pump is unlikely at first but could definitely happen a few weeks later.

brandeany

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Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

Topic: 1st Aug event: Possible Bitcoin pump? - page 3. (Read 2641 times)