Bitcoin Forum

Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

Quite the opposite. Many people are acquiring extra in anticipation of a coin split. You would then have coins on two networks!

This doesn't look like a good idea because: If we end up spliting the chain in two, the price will probably go down a lot on both chains. And it's also possible for people to lose its coins if they sell on one chain and buy in the one with lower amount of hash rate.

Most people are actually trading for altcoins to avoid any conflict in this period.

It's also possible that we won't need to do a hard fork in August 1st because miners are starting to work to activate Segwit2x before the this date. Maybe the chain won't need to split after all...

When will people learn? It is extremely difficult and rare to short the cryptosphere and anyone that does deserves to lose their skin in the game. BTC is a nascent technology and will benefit all longterm hodlers. Besides even if their is a spilt by hodling BTC you'll get the spilt tokens too and whatever value they may reach. Think ETH and ETC. in summary I think you were very very foolish.

Btw I'm more convinced than ever that there won't be a split and the market appears to agree as the BTC price is moving upwards. I think you've made a foolish mistake but each to their own.

Maybe this is going to bring us some relief and prove to be a ray of hope and there's no chain split and bitcoin stays on one chain
https://cointelegraph.com/news/segwait-is-over-bitcoin-network-shows-80-percent-support-for-segwit2x (https://cointelegraph.com/news/segwait-is-over-bitcoin-network-shows-80-percent-support-for-segwit2x)

The same for me there is too much at stake by all participants to actually fork bitcoin. Also as seen with ethereum even if it does hardfork there is no reason it should hurt the price of btc in the long term anyway.

Doesn't seem to be correct. I thought segwit2x means yes, segwit first, but then LATER 2MB block increase aka hard fork aka chain split? Or did I misunderstand it all along? Time to hit the books again.

There won't be a split. There's a chance the price will go fucking ballistic. An actual increase in capacity has been waited for by mountains of people for years on end.

And there are no worthwhile BTC sources so I've no idea why you'd listen to them.

Thanks all

The price is now pretty much what I sold at a few weeks ago - do you think I should buy all back in that case?

I'd reverse the old adage of "Only put in what you can afford to lose" to, "Only convert what you need to fiat". Make sure you don't need to touch your BTC for Aug - I definitely will not have any BTC on exchanges come Aug 1st. I think there will be buying opportunities during July. Always be Holding.

Most times we always try to get ahead of ourselves without really understanding what will be the outcome. Aug 1 will come and go but we will still be standing the issue of whether price will fall or rise is largely based on speculation and the real effect of the hardfork is to be determined by the market forces on that very day and not speculations and guesses. What will happen will happen there is no point giving myself headaches over that.

Yes they are buying in bulk to have double the amount and then just wait for 6-12 months for both coins to have an increase of price in market just like what happened with ETH/ETC, but let me remind you if Bitcoin splits then people will see no difference between BTC and ETH other than ETH having lower difficulty and fast block time and more easier to mine, I for one would gladly switch to ETH and will just leave my Bitcoins in wallet for 5 years straight.

Yup look what happened to LTC after SegWit. And if/when the price goes ballistic very fast I doubt we will be seeing cheap coinage for sometime afterwards, if ever. Either way I am hodling because I don't want to have to buy back in at higher prices. My coins are too precious to gamble like that.

Also I'm not sure why you sold before 1st July or at least waited until after that date. ???

If you're not aware it is the date that Austrialia follows Japan in legalising BTC and removeing all Bitcoin taxes.

The price will be get dumped so hard. Avoid holding btc and try to hold another coin. The bitcoin will migrate or save his decimal to the fiat.

I will try another chance in altcoin. I think the fork of bitcoin will give me the more opportunity to get a decent profit on there.

More people will try to cash out.

This seems perfect, honestly, I didn't know that Australia is going to accept bitcoin as a legal currency and removing the taxes on bitcoin.
If this happens then I think that the price will get increased a bit but the split that OP is talking about I don;t  think will happen otherwise there will be a mess on all cryptocurrencies.

Big gamble. There is no fork.

Well we all know exactly what happened to the price with Japan...

https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1

Bitcoin To Become ‘Just Like Money’ In Australia July 1
Australia has officially confirmed it will treat Bitcoin “just like money” from this year and it will no longer be subject to double taxation.

In its budget summary for 2017-18, the government states that as part of its plan to “make it easier” for digital currency businesses to operate in the country.

quite interesting mate, when this two countries already step up for this currency well i guess selling what you are holding is not a good idea, even there's speculation regarding to this  split up i think japan and australia already anticipated that possibilities and they will continue supporting this currency if there's a little downfall for sure support will show up back.

Not only that, from what I am hearing from my contacts in Australia that the 1st July date is slowing being ramped in the media and that there are a lot of buyers at the sidelines waiting for the taxes to be removed. If there ever was a time to sell this is most definetly not it. Unless you seriously needed the fiat of course.

Many people are telling that bitcoin will be die soon after hard fork or activate segwit but they really don't know what actually the solution debate for miners fee.. 
The state of bitcoin these days was fine that i think its a normal growth if bitcoin will be hard fork in 1st of august it does it mean that you should sell your bitcoins you are just wasting and losing opportunity to make more profit..
The other people just saying that they are not thinking deeply or they are doing their job just to encourage other people to sell abd decrease the price of bitcoin because they want to buy bitcoin or other reason just to push other bitcoin user to go in altcoin.
So be smart guys bitcoin are just moving in a good path that i think better choices..
unlike other altcoin are selling something or start a  new ICO just to push other people to invest in ethereum to use it as token.. unlike bitcoin that have natural movement of the price..

I am not really spooked with the idea of fork,if there is a split in the network then i will have twice the coins in all the networks and even if they die off i do not mind but the main chain of bitcoin will always last and the journey of bitcoin continues,so i am not worried about the challenges it is going to face,waiting to see the best solution and eagerly waiting to see what the future holds for bitcoin.

To be honest even if there will be a hard fork there is still no reason to sell BTC is going up steady and as others said with more countries accepting

it as legal currency it should get more ups just want to say it is like a roll and it started with one country accepting and should get them all to accept

now or later which will give BTC more value . Always holds your BTC unless you are in need for fiat that should be the rule  ;)

So do I, bitcoin will still continue and the main one will always be preferred by most of us. That's why whatever happens on that day, I know that there is something good to happen. And we will even finally bitcoin get's up to $4k or even higher.

Completely understandable and I'm thinking which country is the next after Australia that is accepting the bitcoin as a legal currency.
This trend should continue and hopefully I believe that some other big and rich countries will start considering to accept bitcoin like the Australia will do.

Definitely,chain split would cause bitcoin price to fall and its not good for bitcoin progress.Bitcoin market would once again become unstable.Altcoins would rise up once again in such situation.But hopefully,it would not occur because most miners are ready to implement segwit 2x.So,for sure,bitcoin price would rise once again.

Your question is really good. I personally think that the potential activation of segwit is going to benefit the bitcoin network, although the aspect of a hard fork on that day or soon after that date is pretty daunting to most bitcoin users as well.

To answer your questions:

1. I don't think it'll be that bad. Even if a hard fork happens if you hold your own private keys you are going to get coins on both chains that have forked(bitcoin core and bitcoin unlimited), so therefore, bitcoin value is probably going to stay the same when you add the two together. Still though, it could bring some negative news to bitcoin as there is no consensus anymore of which bitcoin is which, as the battle is pretty close when looking at miners but not so close when looking at nodes.

2. I'll sell 70%, and hold 30%. Right now bitcoin is retesting 3000 which means that if you dont' hold at least some you might lose out on some profits.

Mark my words. Nothing is going to happen on August 1, if SegWit reaches 80% consensus. Most of those who were prone to selling have already done that. There will be no massive sell-off before August 1, and on the other hand, there will be a sharp spike in the exchange rates. IMO, this is the last opportunity to purchase BTC at sub-3,000 levels.

This. But the problem now would be which "Bitcoin" to dump on August 1? Are you for the legacy chain or for the BIP 148 chain? Your ideals do not matter here, making the right decision is.

I will hold on both for a while to be safe.

I would say you got fooled!
If you would follow closely what is going on at the moment in the space you would know the chance to go up the next few weeks, especially August 1st is much higher than going down!
Segregated Witness will get activated until August 1st. Miners can nothing do against that. And with SegWit many more important implementations, especially for scaling will be possible.
So the fundamentals are looking pretty good, no matter what kind of FUD some may spread. And you fall for it.
Sorry to say this but I'm pretty sure you've made the wrong decision!

EDIT: And if a split later should happen due to the HF some are trying to do, there is a chance that both chains could survive. In that case you would twice as much coins. Another reason imo why people will buy more coins instead of selling them.

Actually it looks like that Miners will activate Segwit before August 1st themselves ;)

1) You shouldn't worry too much about it, as long as you hold your bitcoins on an exchange where they will credit you with both BCC(bitcoin core tokens) and BTU( bitcoin unlimited tokens) then you'll be covered. Otherwise, just hold your own bitcoin private keys(which is probably the most secure option as well) and you'll be credited both tokens as well.

Will price crash? I don't know, personally i think it will probably adjust after the UASF. But how much it adjustts and whether it's up or down, nobody really knows.

2) I would sit on my cash for now.

I think whether bitcoin will split or not, those who are bitcoin holders should still hold on to their btc's instead of selling them. I'm not at least worried about the split for I will HODL for as long as it takes.

I think that is great that you have reassured your profit. If you want to invest your money to bitcoin again, I think you need to wait after the fork or network splitting. There is a huge possibility that the price of bitcoin will dump back to $1000. But after that it is obvious that it will pump back to $2000 and may break the $3000 price wall. Wait for a good price to buy bitcoin again.

In reality there indeed isn't an urgent need to cash out any of your coins in such situation, but people here just love to speculate. Some will use altcoins to hedge Bitcoin in the hope that if Bitcoin is going to tank real hard, that these altcoins will function as temporary safe haven. And others just see it as a great opportunity to increase the number of coins that they have by selling at current levels, and buying back lower afterwards. It's a massive risk that they expose themselves to, because 1) there is absolutely no guarantee that Bitcoin will fork unsuccessfully, and 2) there is also no guarantee that altcoins won't get taken down as well. Reality is that the chances for an unsuccessful hard fork to happen has gone down even more now Segwit2x is close to activating.

Well, good move as precaution act if I may say to have cash in order to buy back after that time. But, how if bitcoin price increase at that time (in July)?
If I don't misunderstand, hard fork and bitcoin split into two different coins then people who holding bitcoin should get those two coins as well, as long as you don't store it on an exchange. I don't really mind to hold my bitcoin on wallet instead of convert it into cash, fiat money always worth slightly less (due to inflation) and bitcoin vice versa.

BTC surging upwards. All alts falling. The market likes the SegWit news.

We dont know what happen in the bitcoin price after august 1 . But I hope the price will be okay and the price will increase on that day.  Dont be panic . I suggest to buy more bitcoin because the price is continue increasing and for sure you will earn a lot of profit after that. But it depends to you if you want to buy or not but I will remind you invest only you can afford to lose. Goodluck I hope august 1 will not a bad news.

What about all the ICO owners cashing out ETH to BTC to FIAT?

Well we would appreciate if you placed your various sources together with your OP.

1. No one really knows what will be the impact of August first to Bitcoin. No one can guarantee if it will become good or bad. We always experience volatility. Nothing is a surprise there even on July, on August or after that.

2. I never never sold my Bitcoin because of these reasons so no.

Never sell a satoshi, if you want to sell for profit that's fine IMO but if you are about to sell because of a possible hard fork fearing bitcoin losing value then you'll regret it just like many people already dumped for altcoins or for fiat, if they wanted to destroy bitcoin by hostile take over then don't you think they would've done it long ago? it's not like they don't have the required hash power to do so, at any moment they could fork and split the chain but now they are saying this to see who will dump so they can collect.

People will not stop spreading FUD for various of reasons. I think your sources are just spreading FUD. If you are in profit when you sold your bitcoin, then I guess it is alright. It is the FUD like this that will cause more damage to bitcoin than the actual uasf on Aug 1st. And even if a chain split happens on that day, I am confident the price will not drop that much.

To think that you confidently sold a large percentage of your Bitcoin because of some rumors and now that you observed the slow recovery of Bitcoin, you are asking for a feedback or advise if you should buy back. Act firm on your decision and decide based from yourself and not of others.

The August 1 thing is still uncertain and no one really knows if it will be good or bad. Volatility is there every minute.

It's just a minor step back that altcoins experience right now, which might be because the news still needs to kick in properly. As soon as that is the case, and SegWit2X is on the edge of activation, the entire altcoin market will turn into one giant blood bath. People will realize that the position they have taken in altcoins to hedge Bitcoin, will soon turn out to be the wrong decision....

Yes its true. It would hurt but this is the reality tho.
Many anticipated August 01 and many of us that our hope is too high. Lets wait for that day, hope that will bring us to a better chain.

If it were me I'd buy them all back again asap
Even if the price dips temporarily in August it will recover rapidly
I think if scaling goes well it could jump to 5k overnight so don't want to get caught out and only able to rebuy half your stack

I think you're did something base on what you've just read or heard. Im sorry to say but you dont have  your own decision in everything that you did. You do as what they told.  ;D

Well if I were you I just hold my btc and see what will happen in the market and I'll buy back my btc. And you have few months left brother, its not yet late.

I agree, I think bitcoin is headed for a price spike after we get segwit finally activated so the best thing to do now is to hold your bitcoins, yes, there is going to be instability but nothing that we have not seen before and after that bitcoin will go up once again.

Personally, we really don't know what will happen come Aug 1. But I agree with you that we should all just hold on our bitcoin stash and see what will be the price after Aug 1. There are so much speculation on this date. But the best option really is just on your bitcoin. If the price spike then its an opportunity to earn if you want to sell it. But if the price goes down, then don't sell but wait for the market to rebound. Is has proven already that bitcoin is so resilient that it can bounce back after a big crash.

Yeah i'm agree that better to hold them since 80% of miners are agree with new changes this coming august it should give a good result and the price could be increase more high..
Remember that bitcoin is legal to japan that is why the price was not reach the full potencial its because of rejected segwit few months ago.
Since miners are agree i think segwit can give a good affect to the price movement. .

If day trading, the uncertainty prior to the event will cause a dip - it always does. On the day of the event, once fears subsides, people will quickly reinvest pumping the price. Split or not, people will jump back in due to knowing the path forward.

If not day trading, just hold.

In other words, if you have to ask about whether speculation based on news is correct, you're not a day trader, and made the wrong choice selling and will likely lose out.  August 1st and the day before belong to the day traders making quick decisions based on signals. The volitility and subsequently the risk will be high.

Then I think the best conclusion we can draw from your post is that at the end we are going to win if we stick with bitcoin, if after august 1 we hold and the price goes up we get earnings, and if the price goes down, then buy cheap bitcoin and wait for the rebound.

Almost all people have already decided on how they will act on August 1. And many came to the conclusion that in case of a sharp drop in prices, they will buy bitcoin for the future. This suggests that people trust crypto currency and believe in its bright future

I'm not selling my bitcoin because i know that bitcoin will increase and get more bigger than before we have different options like me if you're wise you won't sell bitcoin because you know how bitcoin works even the richest people in earth wouldn't take of mind of selling their bitcoins because they already invested and they're just waiting for the right time .

The price is more likely to break out upwards so selling now would be stupid. Just my personal opinion but HODLING is the best option right now gentlemen.

I shall be holding and waiting for August to decide whether to purchase more BTC or even a range of altcoins. I feel risk in either selling or buying now so inaction actually seems best

Yes. Selling bitcoin prior to Aug 1 is not a option because I really don't think that bitcoin will dive after that. If the price goes down, then the more time to hold on it. Why people are still questioning bitcoin's resiliency? It has already proven from the past that it can recover and rebound more from the previous price. Do you want to miss the boat when the price goes high? So hold, hold and hold is the best option for most of us.

Only an idiot would sell now, the price is likely to double as soon as we get segwit2x...

Right only those sell bitcoin now who has not know the power of bitcoin, who idoit they sell their bitcoin now because they have no knowledge and no more expert in bitcoin techniques that is they sell before the August. You are right that after the segwit its price will be more increase to it's double.

So why the fuck are you still promoting a signature campaign which pays in bitcoin ? Just switch over to a altcoin paying campaign already! Hypocrite.
 

1.Logic not found.
2.You don't know what a fork is.
3.I hate spammers who bullshit.

To answer your question number 1, August 1 is going to be a bad or a good day depending on the changes implementrd so I expect a volatility as we approach the date because of the uncertainty. To answer your question number two, I would consider buying back in right after the news about August 1 hardfork has been released if it is good because it is the best time to rebuy if it would be a success and was good. If it wasn't wait a little more a few days or weeks before debuting back bitcoin.

There is no guarantee of any price dropping, unbelievable FUD

If you don't buy your btc BEFORE August 1st you won't have a coin on both chains....

If you sell now your just feeding hungry whales who are likely paying trolls to create this FUD

Even the major banks and hedgefunds have been buying in over the last few months because they know the money will pile in when we have a solution that can scale and that's coming soon, one way or another lol ;)

Haha, because you not see in history you can say that, after have news about hard folk and when near deathline, the price of Bitcoin "usually" fall down and panic seller will happening. Although, I love and still using Bitcoin, but keep safe my money important than invest have more risk :)

Another panic sell for me.
You believed in a news that you aint sure.
Get your own facts and try to make it at 100 percent so that you could be 100 percent sure of ehat you are doing.
This aint BTC investing for me. Better just let it stay and wait for that moment.
From the start BTC have been a risk. Why change now?

the worst thing i ever bought with BTC was USD ........

This is what happen when you let other people take the decisions for you, your time will be better spent by reading actual news and not FUD attempts, after that then you can take a decision and stick with it, whether that is to say in bitcoin, trade for altcoin or to get fiat, if you let other people take the decisions for you then you will be like you are right now, confused about what to do with your money.

Lol, you must have very little experience buying alts. Or, maybe you have a crystal ball, or maybe you are just full of shit.

Your title is incorrect. There's a difference between a hardfork and a chain split. If we increase the block size to 2mb that is a hardfork which is not happening anytime soon. BIP148 is coming and a chain split MAY happen in the form of a legacy chain and bip 148 chain, the latter of the two having segwit. A hard fork is not backwards compatible and would create 2 bitcoins, this is not going to happen. bitcoin xt, classic and unlimited have all tried and failed. None of the developers on core is on board with a hard fork. A chain spilt is nothing to worry about as long as you have and secure your own private keys. If you leave them on an exchange there's no telling what will happen to your bitcoins. We've all seen what happens when people trust exchanges. I think the price will increase as august 1st approaches as people take their coins off exchanges and into cold storage. Regardless, segwit is coming one way or the other.

aha ,someone else who has a wealth of no idea .......
good luck son ,youre gonna need it

In order to buy somebody needs to sell, so if there is a price reduction in the price that allow us to buy bitcoin for cheap then that means that supply is above demand or in other words there will need to be more sellers than buyer for that to happen.

Yes,you could buy back.Even much before segwit has been activated,we could see that transactions are confirmed very fast and even at a very low fee.It would make more people to come towards bitcoin again for sure.So its price would increase  very high.better buy nowitself following rule of warren buffet that buy when evry one is selling.Good luck.

The real effect is mixed, its a good idea to have both cash and Bitcoin at the same time in positions as a hedge towards any situation that may come up, the user sentiment is cautious but bullish. At the same time bears have very good reasons to be pessimistic hence there really is a lot of uncertainty in the market, best advice is controlling your private keys so you can execute if an exchange or site holding your coins is slow to react when the opportunity strikes.

1- the price gonna be unpredictable and crazy
2- move your coins to a safe place where you control your private keys and hold it until the situation be more clear

Maybe a good idea, maybe not. The market is unpredictable and will have crazy movement during these days. It maybe a right move or a wrong one, it depends on how the market will react. We don't know for sure that a hard fork will happen. I suggest you keep your coins,(in a wallet in which you are in total control, i.e electrum wallet) and watch the developments sidelined, that is what I will do. Pretty sure the price will get back steam as soon as the waters will be calmed.

Bitcoins price is crazy and predictable and it has been for quite sometime now. Some are scared off by the August 1 Hard Fork speculations but I think it is just normal. It may dump back to $2000 but eventually it will increase back, that's why some coin holders who have been in this business for a couple of years now are just holding on to their coin. It is a wise idea though to keep your bitcoin in a secured wallet just to make sure. We'll never know, before the year ends bitcoins price could go twice its new ath.

what is this August 1 "hard fork" you are talking about? there is no hard fork there.
there is only a Soft Fork planned on that date and only if it gains enough support and so far it doesn't.

there is also one thing wrongly named Hard Fork which is a joke and mostly a public stunt by bitmain and it is irrelevant.

If Segwit will come and price of BTC down because of Segwit only than after that obviously price will going up more than present price. So i think no worry if you hold BTC. Price will definitely increase in future.

Yes exactly. Only one caution is that if we control our privatekey
then we can choose any chain we do not need to worry ,
if you have balances in exchnages  / web wallets like xapo then move them into your electrum / bread wallet
both xapo and coinbase balances should be moved out because we cannot decide to choose a chain with your xapo balance

Cast your vote people and lets see what our Bitcoin community really thinks about the price of Bitcoin.

Here is the link https://bitcointalk.org/index.php?topic=2015139.msg20078967#msg20078967  (https://bitcointalk.org/index.php?topic=2015139.msg20078967#msg20078967)

Why not choose selling your Bitcoin to buy extra amount although you know the price can falldown in next time? If you know that but still hold your Bitcoin,  you will waste your money and not helps to make more profit, just make you have scared and wating long time.

Nope I think I would hold my bitcoin and see what happens next,
I think it would rise up after the price drop down since more investors are going to grab that opportunity.

Yeah we should really wait for the effect before we panic and sell all our coin,
It might be good to hold or sell some before August 1 then buy back if the price drop down.

I don't think any drastic step will taken on 1st Aug. They tried before this but when time came they backed off.

I am expecting same this because developer stakes are too high we even can't think. If something wrong happen price will fall sharply and they will also lose big chunk of their funds.

While the idea of a hard fork is a joke in the sense there was no software to try to make that a reality when it was announced, it is not a joke when it comes to the power behind it, about 80% of the hash rate were supporting this, that is not something to laugh about it.

Many people did the foolish act of selling their bitcoins at the bottom price of $1800 due to the fear of hardfork.It was a lucky chance for big whales who were awaiting for that situation eagerly.They just grabbed those BTCs at very cheap price.Those who have sold BTC at that time are now regretting for their decision.

We told them not to panic sell but they were greedy and expected to buy back moar btc..... Now it's the time to get back in before 10k and then 100k.....

Don't let one bad call ruin your moonshine Gentlemen  ;)

On the off chance that you take the essential careful steps than you don't need to be stressed over your bitcoins. A few people have clarified straightforward and reasonable approaches to play it safe and it isn't difficult to tail them. All of individuals are as yet exchanging, shopping or sing other stuff with bitcoin as they typically do. Very few individuals fear august uncommonly specialists. Some are likewise recommending that bitcoin may reach $3,000 before the finish of 2017 in view of August 1 BIP148 proposition. So there is not something to be stressed over.

I think that selling Bitcoin today will be available only for those who want to spend their money and buy something important. Of course, today the rate is much better than even a month ago. But I would not advise giving everything now.