So, Bitcoin is splitting in August. This is important.
People want a faster version of Bitcoin. So a majority of payment processors have agreed to upgrade to a new version of the tech. This tech will essentially be a brand new coin called Bitcoin Unlimited (BTU). The old coins are still usable, but transactions of the new Bitcoin are faster.
Why this is important to you: the transition might cause the price of either old Bitcoins or new Bitcoin to plummet. At this point, this is the time to get in if you've been wanting to.
Here is my take: I believe Bitcoin is worth a lot more than what is is now ($2400) or nothing. Thr scenario in which it's worth nothing are 1.) it's replaced 2.) it's cracked, which means all of them are crackable more or less. So it's always a gamble. I see the top price being 265k per coin which is an equivalent share of the value of all gold in 2013 dollars, as the new or old BTC tech is still probably too slow to really replace money, but it could replace gold.
Bigger blocks = more transactions = higher price
I planned to sell all of my bitcoin in July, 1 month before the split. I was afraid they will push BTC price up the mountain before August and dump as hard as they can then buy back after the split.
I was wrong. I sold everything yesterday when bitcoin was at $2600.
We should leave this market atm, and wait for a good signal to re-enter it again. Maybe after August.
Its currently falling with high speed, I hope it Appreciates soon enough.
#looking forward to BTU
Bitcoin unlimited is not a suitable successor to bitcoin. I say stay with bitcoin core, adopt segwit, and look forward to a glorious future. IMO bitcoin unlimited is a con.