Hi guys,
new here, been reading a lot of tips & tricks and learning a lot from all you guys so thank you for that already!
About the upcoming Segwit2X BTC fork I was wondering what trading strategy you are considering. Given the past two forks of BCH and BTG, I assume:
1. The overpriced BTC goes immediately down after the fork and settles at near the 5k area (just an estimate).
2. The value from BTC flows mostly and directly to the altcoins.
As there is no way to accurately predict when block 494,784 is mined, there is a good chance some of us are sleeping (as I was during the BTG fork) while all this action takes place.
From logical perspective, I'd want to move my BTC to e.g. LTC/XRP/IOTA/.... almost instantly after the fork. Hereby I take my gains from BTC while also profiting from the increase in altcoin values. In a later stage, I will use the surplus from the alts so re-invest in BTC and end up with more than I have right now. However, as I will likely have most my BTC on my ledger and exchanges do not support consequential trade orders (e.g. (1) sell BTC, (2) buy XXX etc), this might prove difficult.
So.. What strategy will you be using?
Really? Why are you going to move your investments from BTC to altcoins during bitcoin forking? I think, the best thing to do a week or two before the bitcoin forking is that you should invest your money in bitcoin, then put it in a wallet that supports the forking (i.e. you'll receive the equivalence of your bitcoin in terms of the bitcoin forked coin). new here, been reading a lot of tips & tricks and learning a lot from all you guys so thank you for that already!
About the upcoming Segwit2X BTC fork I was wondering what trading strategy you are considering. Given the past two forks of BCH and BTG, I assume:
1. The overpriced BTC goes immediately down after the fork and settles at near the 5k area (just an estimate).
2. The value from BTC flows mostly and directly to the altcoins.
As there is no way to accurately predict when block 494,784 is mined, there is a good chance some of us are sleeping (as I was during the BTG fork) while all this action takes place.
From logical perspective, I'd want to move my BTC to e.g. LTC/XRP/IOTA/.... almost instantly after the fork. Hereby I take my gains from BTC while also profiting from the increase in altcoin values. In a later stage, I will use the surplus from the alts so re-invest in BTC and end up with more than I have right now. However, as I will likely have most my BTC on my ledger and exchanges do not support consequential trade orders (e.g. (1) sell BTC, (2) buy XXX etc), this might prove difficult.
So.. What strategy will you be using?
It is also not a good idea to move your investments from BTC to altcoins even after forking because as you can see, a lot of altcoins are on a freefall in the past 2 months, especially the top altcoins like ETHEREUM and ALTCOIN. There's no point on moving your money from the cryptocurrency that continuously rise up (BITCOIN) to an altcoin that has a falling value.
