Hello, I am reading this forum for a long time.
This is my first post, because I have a different view than the majority of users here, about what will happen today (August 1st).
I predict a strong dip later today. You'll find the reasons below.
Here is my behavior if I was a whale :I would buy a lot a Bitcoin before the fork, in order to get the free Bitcoincash (BCH). (I assume it's already done, pushing the price to high of today).
Then, I would be ready to dumb the shitty BCH as soon as possible, in order to get as much of free BTC as possible. (by testing the BCH client in advance, and knowing how to split the coins during the first blocks).
=> If you know how to read a order book, you would know that the current price of VIABTC is artificially sustained, and the BCH crash will be quick.
And then, I would dump my bitcoin before the others, because BTC has been overbought during the past days in preparation August 1st.
=> Panic selling following the whale's sell will create a strong dip.
Here is my behavior because I'm a little fish and I will be slower than whales :- Keep a small part of my stash in BTC to get BCH and have fun with it (even if it's shit).
- Sell the major part of my BTCs for fiat money, and wait for the dip.
- Buy during the dip (starting when the whales will have splitted their coins)
I am usually bullish about bitcoin, but not today
