Bitcoin/Bitcoin Cash and Altcoin Predictions:
As most of us know Bitcoin will be forking in the next couple of weeks, with the B2X fork coming in about 2 weeks people are looking to stack up on Bitcoin for some free money.
When Will Bitcoin Stop Going Up?
My belief is that it will make it to $10,000 before the fork and then correct to $5000 in the coming weeks and in the process alt coins will continue to dump until then. We’re currently (Nov 5th) seeing alt coins being pumped a little bit but I think that this will last until the 6th of November after that we’re looking at another dip for the alts.
Bitcoin Cash:
An interesting coin to look at is Bitcoin Cash. BCC has been following BTC heavily and actually made more returns percentage wise, I bought in at $320 and have made some nice gains so far. I believe this will continue to rise up until the fork but I am unsure about what will happen afterwards seeing as how we’ll have 3 “bitcoins” competing for hashing power.
My strategy going forward?
It’s a high risk strategy with a high pay off, I’m selling a portion of my altcoins at a loss of 5% and using the capital to buy Bitcoin Cash and ride the wave up until a couple of days before the fork and then buy back into the altcoins at a nice discount. Only time will tell if my predictions will come true, until then consider this a documentation of my little experiment. I will be updating you guys as we move forward.
This goes without saying but nothing is guaranteed and anything can happen, this is not investment advice. I’m simply documenting my investment decisions on the internet.
Nice strategy. Although i would always be monitoring the price of the alts rigorously. Some of them are available at ridiculous prices. Look at Tenx or Ark for example.
I have a position in both these coins, I'm holding on to TenX but chose to sell ARK. I believe we'll be seeing ARK at around $1.90 like we did earlier last week.