1st Aug event: Possible Bitcoin pump?

[deisik]

No way there will be a pump. No one know exactly what will happen in August, so they will probably sell. And it is recommended that those holding Bitcoins leave them on their own wallet, not in exchanges, so the trade volume will be tiny.

Maybe some days after the 1sts August there will be a quick recovery, if things went well in 1, August.

Fork will get us an enhanced bitcoin system. It means it will start processing more transactions for every block hence there will be no more need of paying higher transaction fees. Then why should we sell. Anyone who understand what is going to happen will never think about shorting. We must support bitcoins system in its hard times rather than looking for short term profits. I am not going to sell, instead I may buy more now.

Which fork do you refer to?

If you mean a soft fork as per UASF (BIP148), then I'm all in. But as many experts, semi experts, and wannabe experts have already said, it is set to fall flat on its face unless something really extraordinary is going to happen (e.g. Satoshi coming out of his hide-out and strongly supporting UASF). If you in fact mean a hard fork by miners, and we consider this possibility seriously, then it would be bordering on ridiculous to think that miners are really wanting SegWit with Bad Blocks since they obviously want everything to remain as it is, i.e. high prices coupled with high fees

[South Park]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But that  scenario is only possible if most people decide to withdraw to their wallets, if instead of doing that they decide to sell their bitcoin for altcoins or fiat then there will be more supply of bitcoin and then the price will decrease, so it is not easy to predict what it is going to happen.

[Kprawn]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But that  scenario is only possible if most people decide to withdraw to their wallets, if instead of doing that they decide to sell their bitcoin for altcoins or fiat then there will be more supply of bitcoin and then the price will decrease, so it is not easy to predict what it is going to happen.

When Bitcoin takes a dive, Alt coins follow, so using Alt coins as a safe heaven is actually stupid. You just start buying before the 1st of Aug

when the price is at it's lowest and then push it to cold storage. You wait it out after the 1st of Aug, to see what the consequences will be of all

of this and then sell on the longest chain and continue as normal. 

[BCTBF]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

I'm sure prices will increase again but with a long time maybe late August or longer, because I'm not sure bitcoin prices will increase quickly after the implementation segwit2x on the 1st of August.

[deisik]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But that  scenario is only possible if most people decide to withdraw to their wallets, if instead of doing that they decide to sell their bitcoin for altcoins or fiat then there will be more supply of bitcoin and then the price will decrease, so it is not easy to predict what it is going to happen.

When Bitcoin takes a dive, Alt coins follow, so using Alt coins as a safe heaven is actually stupid

It kinda looks you are heavily uninformed

What you say might have been true half a year ago, but if you had followed Litecoin price dynamics recently, you would have noticed dramatic changes that happened within the last few months. Litecoin has been rising when Bitcoin has been stagnating, and right now, while it still goes down in dollar terms along with Bitcoin, it actually rises in Bitcoin terms. So if you want to stay in crypto without moving to fiat (which might have a better decision anyway, I mean, to cash out), Litecoin is a safe haven of sorts. In any case, it seems to be a better choice to keep your funds in if you don't want to leave crypto

[Apollo777]

If there is a pump, will most likely happen before Aug 1st. Smart money moves fast.

[skorupi17]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

[unknown04]

if all goes well, im hoping to see a great pump to 3k

[hashtag101]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too

[deisik]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too

I don't quite get your logic

Provided there is any, of course. First, what's the point of buying bitcoins with fiat and then buying altcoins with these bitcoins if you can buy altcoins directly with fiat? And second, I can't possibly see how it could ever give you 2x profit. In fact, I can't even see how you can get any profit at all unless Bitcoin continues to rise substantially above your entry point (which is not given either). Care to explain your reasoning and what am I missing here?

[unknown04]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too

I don't quite get your logic

Provided there is any, of course. First, what's the point of buying bitcoins with fiat and then buying altcoins with these bitcoins if you can buy altcoins directly with fiat? And second, I can't possibly see how it could ever give you 2x profit. In fact, I can't even see how you can get any profit at all unless Bitcoin continues to rise substantially above your entry point (which is not given either). Care to explain your reasoning and what am I missing here?

simple, not every country is able to buy altcoin with fiat... not all exchanges are worldwide.... some exchanges only allow people to buy bitcoins.... and this is why there people needs another site to convert them to altcoins....

[deisik]

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too

I don't quite get your logic

Provided there is any, of course. First, what's the point of buying bitcoins with fiat and then buying altcoins with these bitcoins if you can buy altcoins directly with fiat? And second, I can't possibly see how it could ever give you 2x profit. In fact, I can't even see how you can get any profit at all unless Bitcoin continues to rise substantially above your entry point (which is not given either). Care to explain your reasoning and what am I missing here?

simple, not every country is able to buy altcoin with fiat... not all exchanges are worldwide.... some exchanges only allow people to buy bitcoins.... and this is why there people needs another site to convert them to altcoins....

What do you mean by every country?

People are buying coins at exchanges, and I have yet to see the one that would allow buying bitcoins for fiat and disallow buying altcoins with the same fiat. If you mean some backward exchanges that have only one trading pair (personally, I don't know of any such), then I would stay away from these exchanges in the first place. Further, I still can't see why it would make sense to first buy bitcoins and then convert these bitcoins to altcoins. How could that give you (or me) twice the profits (since that was the point)? I'm eagerly looking for a way to multiply my profits via altcoins

[among]

“We are going through the biggest wealth generation opportunity of the century, and people want to participate,” says Meltem Demirors, director of development at Digital Currency Group. DCG oversees a cryptocurrency portfolio including 1% of the total Bitcoin supply. It also invests in startups working on blockchains, accounting tools that use networks of computers to collectively sustain mutually trusted, shared ledgers of transactions, without relying on any outside institutions as middlemen.

The appeal of this tech is stoked by geopolitical unease. Since its inception in 2009, Bitcoin has fed off the festering distrust in institutions sown by the financial crisis. And as populist sentiment has spread in the West, so has the allure of a decentralized currency outside the grasp of governments and banks.

[fabiorem]

“We are going through the biggest wealth generation opportunity of the century, and people want to participate,” says Meltem Demirors, director of development at Digital Currency Group. DCG oversees a cryptocurrency portfolio including 1% of the total Bitcoin supply. It also invests in startups working on blockchains, accounting tools that use networks of computers to collectively sustain mutually trusted, shared ledgers of transactions, without relying on any outside institutions as middlemen.

The appeal of this tech is stoked by geopolitical unease. Since its inception in 2009, Bitcoin has fed off the festering distrust in institutions sown by the financial crisis. And as populist sentiment has spread in the West, so has the allure of a decentralized currency outside the grasp of governments and banks.

Why are you gravedigging this topic?