Good analysis and explanation,lso when will the part 2 release?
BTC Fork Highlights Part 2https://bitcointalksearch.org/topic/btc-fork-highlights-part-2-2374627
Thanks a lot, i will read your part 2 and rethink about my future trading plan
Topic: BTC Fork Highlights Part 1 (Read 263 times)
https://bitcointalksearch.org/topic/btc-fork-highlights-part-2-2374627
Thanks a lot, i will read your part 2 and rethink about my future trading plan
Good points to note: past is not indicative of present or future movement. This is true in conventional trading, but holds even stronger in Bitcoin markets. This is why most of the technical anaylses and comparisons to bubbles of the past are only interesting at best.
What we also need to realise is that this upcoming fork is unlike the previous two we've already had. It is the most contentious of all, and is the one most likely to have far and long lasting implications, should it succeed in its aims. Bitcoin Cash is only slightly similar in its corporate sponsorship. It may have benefited from being the first fork this year, so there was a lot of attention that gained it more recognition than it deserved. I'm inclined to even leave Bitcoin Gold out of this comparison; pretty sure its devs are embarrassed at the mess it's come to be seen as.
This one will be tough to predict, extremely risky to trade on.
What we also need to realise is that this upcoming fork is unlike the previous two we've already had. It is the most contentious of all, and is the one most likely to have far and long lasting implications, should it succeed in its aims. Bitcoin Cash is only slightly similar in its corporate sponsorship. It may have benefited from being the first fork this year, so there was a lot of attention that gained it more recognition than it deserved. I'm inclined to even leave Bitcoin Gold out of this comparison; pretty sure its devs are embarrassed at the mess it's come to be seen as.
This one will be tough to predict, extremely risky to trade on.
Good analysis and explanation,lso when will the part 2 release?
BTC Fork Highlights Part 2https://bitcointalksearch.org/topic/btc-fork-highlights-part-2-2374627
Good analysis and explanation,lso when will the part 2 release?
BTC Fork Highlights.
Since nobody likes to read big pieces of information, I will break this analysis into 2 separate parts.
We will try to analyze what happened during previous forks (and airdrops), how did that affect BTC-USD price, and how exactly Altcoins were affected. What would be the best possible strategy, and how to avoid losses during fork?
Part #1
First of all, we need to remember that past doesn't determine the future of the market, however it gives us hints about possible market behavior.
Let's review Segwit hard fork, which occurred August 1st, 2017.
Two weeks before hardfork massive price dip happened on the 16th of July.
After that, BTC started to gain momentum and reached its peak on the 1st of August - fork date.
For next couple days, people were selling BTC which caused price drop from 2980 to 2600. In many cases, people were pouring money back in Altcoins. However, BTC started another bull movement, and reached 4985 by 1st of September
Besides that BTC was obviously overbought, market was shaken with news about cryptocurrency and exchange regulations from China. That caused massive panic and price drop from 4400 to 2961, during 14th and 15th of September 2017.
Just as during previous dip in July - it didn't last for too long. It took just two weeks for BTC to cross 5,000 USD line, and continue movement towards 6,500 psychological line. It was caused by two main factors:
Positive news from China
Bitcoin Gold "giveaway".
Bitcoin Gold was issued on the 25th of October, however, market didn't react on it as it reacted on Segwit fork. Why? Because Segwit 2x got much larger community and media attention.
I would expect much stronger reaction on Segwit 2x fork, which is coming on the 15th of November (around 15th and 17th, depending on blocks and timezone).
If BTC is getting ready for another bull run before fork, we might see BTC going over $8,000.
In Part #2, we will examine possible scenarios and trading strategies for BTC-USD and BTC-Altcoins before, and after Segwit 2X fork
BTC Fork Highlights.
Since nobody likes to read big pieces of information, I will break this analysis into 2 separate parts.
We will try to analyze what happened during previous forks (and airdrops), how did that affect BTC-USD price, and how exactly Altcoins were affected. What would be the best possible strategy, and how to avoid losses during fork?
Part #1
First of all, we need to remember that past doesn't determine the future of the market, however it gives us hints about possible market behavior.
Let's review Segwit hard fork, which occurred August 1st, 2017.
Two weeks before hardfork massive price dip happened on the 16th of July.
After that, BTC started to gain momentum and reached its peak on the 1st of August - fork date.
For next couple days, people were selling BTC which caused price drop from 2980 to 2600. In many cases, people were pouring money back in Altcoins. However, BTC started another bull movement, and reached 4985 by 1st of September
Besides that BTC was obviously overbought, market was shaken with news about cryptocurrency and exchange regulations from China. That caused massive panic and price drop from 4400 to 2961, during 14th and 15th of September 2017.
Just as during previous dip in July - it didn't last for too long. It took just two weeks for BTC to cross 5,000 USD line, and continue movement towards 6,500 psychological line. It was caused by two main factors:
Positive news from China
Bitcoin Gold "giveaway".
Bitcoin Gold was issued on the 25th of October, however, market didn't react on it as it reacted on Segwit fork. Why? Because Segwit 2x got much larger community and media attention.
I would expect much stronger reaction on Segwit 2x fork, which is coming on the 15th of November (around 15th and 17th, depending on blocks and timezone).
If BTC is getting ready for another bull run before fork, we might see BTC going over $8,000.
In Part #2, we will examine possible scenarios and trading strategies for BTC-USD and BTC-Altcoins before, and after Segwit 2X fork
BTC Fork Highlights.
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