Altcoins dropping because users cashing out BTC before the forks?

marados

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Quote from: invitro on October 09, 2017, 03:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

It's probably too early for it to happen. We could have seen some drop in price for altcoins for last couple of days, but seems like they are going back on track because as I said, it is too early to blame BTC fork for it.

But definetly couple of days before BTC fork, a lot of people will dump their altcoins to get more Bitcoin Gold or whatever it will be. The same thing that hapenned on August 1. with Bitcoin Cash.

invitro

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Quote from: invitro on October 10, 2017, 02:12:54 AM

OMG at $7 is a steal

yep, it was a steal.

OMG is at $9.5 now. 20% gains

Golftech

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Quote from: vasrasus on October 10, 2017, 09:14:01 PM

Quote from: muci1806 on October 10, 2017, 06:43:45 PM

It´s pretty more people jump from their alts into BTC to get free BTC Gold on the 25th Okt. People love free money, its simple Wink

That's the reason definitely, when the fork is over and they get that free BTC Gold then they will use it to buy more of alts, just a matyer of time no need to panic for alt holders.

yes its just a normal greediness from the big players they just wanted to have a lots of btc to get more rewards and free money with btc gold then after
that for sure they will come back and choose what alts that they will support and start to hyped the value again, so better for those who's been trapped not to panic and just wait for some time.

Lumada

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Quote from: Saoha on October 10, 2017, 09:25:33 PM

I think this is the reason altcoin fell and Bitcoin increased last week.
- Keep the BTC until the end of October 25th you will receive the BTG on November 1 at 1: 1. It is now possible to see that the BTC will be split up again and that is confirmed by the leaders at Bitmain and F2Pool.
Specifically: 1 BTC = 10 BTG
BTG = Bitcoin Gold

Everybody sells altcoins and buys Bitcoin

And after the hard fork they will definitely buy back their alts, it's a good thing that we see bitcoin cash gaines success that's whybwe are supporting now hard fork than having fud and panic.

Saoha

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I think this is the reason altcoin fell and Bitcoin increased last week.
- Keep the BTC until the end of October 25th you will receive the BTG on November 1 at 1: 1. It is now possible to see that the BTC will be split up again and that is confirmed by the leaders at Bitmain and F2Pool.
Specifically: 1 BTC = 10 BTG
BTG = Bitcoin Gold

Everybody sells altcoins and buys Bitcoin

vasrasus

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Quote from: muci1806 on October 10, 2017, 06:43:45 PM

It´s pretty more people jump from their alts into BTC to get free BTC Gold on the 25th Okt. People love free money, its simple Wink

That's the reason definitely, when the fork is over and they get that free BTC Gold then they will use it to buy more of alts, just a matyer of time no need to panic for alt holders.

muci1806

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It´s pretty more people jump from their alts into BTC to get free BTC Gold on the 25th Okt. People love free money, its simple Wink

carriebee

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Quote from: muvie on October 09, 2017, 12:56:54 PM

I think many people want to claim Bitcoin Gold and they sell altcoins because of that. Also many people always cash out into fiat when btc price is high.

This is one of the possible reasons altcoins dropping because of the preparation of upcoming hard forks. But most are buying of the dip because altcoins are bloody these days. Altcoins will recover for sure and most can gain profit.

mummybtc

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Quote from: Zakhal on October 09, 2017, 11:55:14 AM

Quote from: JShort on October 09, 2017, 05:44:51 AM

interesting read I found

https://www.reddit.com/r/BitcoinMarkets/comments/757l70/here_is_why_bitcoingold_is_shady_and_a_scam_you/

If Bitcoin gold IS a hairy scam then alts could rise quickly.

https://steemit.com/bitcoin/@bluephoenix/bitcoin-gold-is-a-scam

I don't think the price movement is due to Bitcoin Gold hard fork it is more of the 2x hard, this has support of the likes of Roger, Jihan and co. Bitcoin Gold is more of a freebie and child play to me

invitro

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OMG at $7 is a steal

CryptoDen

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Is there an exact date for the hard fork? I'm going to sell off some BTC once the price tops out and redistribute it to my alts while they're down, I have no less faith in them now then when I bought them so just going to rebalance my portfolio with the increased BTC price and HODL.

Elle47

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Probably people hope that bitcoin gold will be at price of bitcoin cash.

khufuking

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I just wonder how many thread about this very same question will get open in the up coming days , I do not think there is even a question here ! what is happening is the logic without any further thinking , There is a chance to get free money from just holding BTC + you will make more money because BTC price logicly will increase , OF course a lot of people will convert there alts to buy some BTC and benefit from it . Now the real question is which is better !? Buy alts at dip or keep my BTC for free money Roll Eyes

stifler_matricker

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always being the challenger!
don't go where the mass go to maximise profit.
My deep trust in my ico's Grin

Xetamin

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Quote from: yonton on October 09, 2017, 12:00:56 PM

Yes everybody wants bitcoin to get the extra fork coin. I can't believe ppl didn't see this coming. Anyone who has invested after the alt boom in the spring has lost vs bitcoin.

I feel strange that people selling altcoin. If the Bitcoin is in forks, then altcoin is more secure.

Anthony1985

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Tic.eth

Quote from: Zakhal on October 09, 2017, 11:55:14 AM

Quote from: JShort on October 09, 2017, 05:44:51 AM

interesting read I found

https://www.reddit.com/r/BitcoinMarkets/comments/757l70/here_is_why_bitcoingold_is_shady_and_a_scam_you/

If Bitcoin gold IS a hairy scam then alts could rise quickly.

https://steemit.com/bitcoin/@bluephoenix/bitcoin-gold-is-a-scam

Sounds absurd to me! There is a huge dump of alt coins because of this Bitcoin Gold? I can't believe people are going for it

muvie

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I think many people want to claim Bitcoin Gold and they sell altcoins because of that. Also many people always cash out into fiat when btc price is high.

yonton

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Quote from: Gutenhans on October 09, 2017, 12:07:18 PM

You could go for altcoins and the moment will be during the fork when they will hit bottom.
Keeping it in bitcoin will give you free BTCGOLD but it's a question mark how much will that be worth. Not to mention the price will fluctuate a lot, very quick moastly downwords. Most people say the price will be around 1000 for one BTG.
I would go for altcoins that are very promising and already known because:

The people who backed out of altcoins and went for the free bitcoin money will come back to altcoins if the hard fork pays out for them, even if not they will go to altcoins trying to make out for the lost profits/time.

Like i said the best time to buy altcoins will be during the fork and the best time to sell them (you have to watch the news/order books) is when people will cash in on the free bitcoin gold.

I think in a month time you can go 30% profit on your investment if played safe.

Don't buy a fresh coin. People will go back to coins that are familiar to them and already gave them profits in the past. So look for coins that we're performing good up to 4-5 months back.

100% Agree

Gutenhans

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Call me Mr. Hans

You could go for altcoins and the moment will be during the fork when they will hit bottom.
Keeping it in bitcoin will give you free BTCGOLD but it's a question mark how much will that be worth. Not to mention the price will fluctuate a lot, very quick moastly downwords. Most people say the price will be around 1000 for one BTG.
I would go for altcoins that are very promising and already known because:

The people who backed out of altcoins and went for the free bitcoin money will come back to altcoins if the hard fork pays out for them, even if not they will go to altcoins trying to make out for the lost profits/time.

Like i said the best time to buy altcoins will be during the fork and the best time to sell them (you have to watch the news/order books) is when people will cash in on the free bitcoin gold.

I think in a month time you can go 30% profit on your investment if played safe.

Don't buy a fresh coin. People will go back to coins that are familiar to them and already gave them profits in the past. So look for coins that we're performing good up to 4-5 months back.

yonton

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Activity: 854

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Yes everybody wants bitcoin to get the extra fork coin. I can't believe ppl didn't see this coming. Anyone who has invested after the alt boom in the spring has lost vs bitcoin.

Topic: Altcoins dropping because users cashing out BTC before the forks? (Read 1633 times)