Bitcoin Forum

Hello, I am reading this forum for a long time.
This is my first post, because I have a different view than the majority of users here, about what will happen today (August 1st).

   I predict a strong dip later today.  You'll find the reasons below.

Here is my behavior if I was a whale :

I would buy a lot a Bitcoin before the fork, in order to get the free Bitcoincash (BCH). (I assume it's already done, pushing the price to high of today).
Then, I would be ready to dumb the shitty BCH as soon as possible, in order to get as much of free BTC as possible. (by testing the BCH client in advance, and knowing how to split the coins during the first blocks).
 => If you know how to read a order book, you would know that the current price of VIABTC is artificially sustained, and the BCH crash will be quick.
And then, I would dump my bitcoin before the others, because BTC has been overbought during the past days in preparation August 1st.
   => Panic selling following the whale's sell will create a strong dip.


Here is my behavior because I'm a little fish and I will be slower than whales :
- Keep a small part of my stash in BTC to get BCH and have fun with it (even if it's shit).
- Sell the major part of my BTCs for fiat money, and wait for the dip.
- Buy during the dip (starting when the whales will have splitted their coins)


I am usually bullish about bitcoin, but not today :)

i've had my theories about this which you can see in this board. but thinking about it more, i don't see it happening this way.

you see there is a BCC/fiat market and whatever amount of bitcoin anybody buys and receives the BCC equal amount they can sell directly to fiat. there is no need to sell for bitcoin then sell bitcoin for fiat. that is why it won't affect bitcoin price this way.

the normal fluctuations and whale manipulation is always present though. and i think the days of dumping are near the end.

I guess someone read your thread and decided to dump BTC early :P

Looking at the current dip and viaBTC's BCC futures price, riding today's volatility may actually be more profitable than racing BCC to the bottom. Low liquidity makes today a manipulators paradise.

for the past 2 days i have been checking the price only, never checked the charts. so i missed a lot. i always see $2700 so obviously after reading your comment i thought what the hell is he on about. then looked at charts and saw a rise to $2929 a couple of hours ago! and the drop to $2616 and back to good old $2700 again (2760 now).

i wouldn't call it a dump though. it was just testing the ATH and because it failed to break it once again there was a big drop and big drops in bitcoin are always like this. someone sells on top and everything crumbles down and everyone becomes joyful because of cheap coins!

actually the market is surprisingly liquid today. i was expecting a lot less but traders once again proved that all their lives and balances are on exchanges and never leaves.

Last common block has been mined, which means that count for free BCH distribution is done.

Whales are selling their BTC as planned...

But bitcoin price is still above $2700 and I think we can expect a big bullish run again because BCC have failed to become viable. Many will just dump that shitcoin when they will be able to move their free bcc to exchange platforms.

Exactly what he said! ;D

now i am starting to think you are not making a "prediction" instead trying to spread FUD specially with comment!
and interestingly enough bitcoin price is still above $2700 as expected.