1st Aug event: Possible Bitcoin pump?

[lite]

At first I'm sure the bitcoin price will be pumped after 1 August. But, i think if this chain split happens it will probably create a chaotic situation and maybe i will sell half of the balance i have in my wallet and the rest i will save because I'm still a little bit confident if bitcoin prices will be pumped maybe in mid-August or longer .

If you want to sell out, you better do it now! i'm gonna hold on to my coins, not selling any for another 5 years.

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?

It might happen might not. why take the risk withdraw all your coins from exchanges before august 1.

https://bitcointalk.org/index.php?topic=2017191.0

[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?

It cuts both ways, apparently

If people move their coins to their private wallets to stay away from trading, then who, in your opinion, will make up all the demand which, according to you, should cause the price increase? If anything, demand should go down along with supply, and that would mean rising volatility to possibly insane levels. So it could mean price rise, price decline, or both intermittently. Some people may earn handsomely, some may lose heavily if they choose to trade instead of staying away from the market for the time being

[ActiveP]

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?

Hopefully there will be panic sales before August 1st, and the price dip will be good for buying cheap coins. On the second, when it becomes obvious that there was no need to panic, the price will shoot back up for a tidy profit. Buy as much as you can on the  the 30/31 July.

[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?

Hopefully there will be panic sales before August 1st, and the price dip will be good for buying cheap coins. On the second, when it becomes obvious that there was no need to panic, the price will shoot back up for a tidy profit. Buy as much as you can on the  the 30/31 July

I would refrain from advising and advertising such things

Bitcoin may spiral down, say, to 1,500 dollars per coin, but there is no guarantee that it will necessarily bounce back. As much as I myself want it to rise higher and higher, the current "stability" looks insanely suspicious to me. It seems like someone is trying to prop up the price when it starts to go down. Miners can be doing that since they are interested in this seeming stability for the time being. Otherwise, with the price severely crashed, people would attack them because it is due to them that Bitcoin didn't and doesn't evolve and there is no sensible development (in fact, no development at all). As to me, the price may crash after August, 1st, when there is no UASF activated, nor SegWit2x

[wuvdoll]

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?

Seems a practical predictions but we need to consider the sentiment of most people as bitcoin may have blockchain split as not all miners will be ready to accept what segit and segwit2x demonstrate. The blockchain split may get less significance when miners may form a working consensus which will secure our bitcoins more efficiently like all miners may start working accepting the one single type of fork. In this case too I guess bitcoin prices may start skyrocketing.

[LeGaulois]

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?

actually most people are speculating "things are not clear" and because of that anything is possible.
the only reason for the price drop is the fear of a fork and a split because of it. but if that date comes and none of that happens, things will change fast from a drop into a big ass rise. because that "fear" that i told you about will no longer exist.

And who is creating the fear? How? and most important, Why? People who are interested to see the price drop (see july) for their own interest, knowing that the price will surely get a boost some days/weeks after the august 1. Good deal, cheap Bitcoin, quick profits. Who is not interested to get Bitcoin a lot cheaper?

[pitham1]

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?

People might not just withdraw their bitcoins; they might sell it for fiat. More people will be hesitant to buy bitcoins because of the uncertainty. In effect, that might be the cause of the dip in price we are seeing now.

[HI-TEC99]

IMO there won't be a fork, Bitcoin will continue as it is. The biggest thing holding the price back today is fork fear, and after that's gone the price will continue upwards. There will probably be a stampede of people buying back in after the fork fear's gone.

[topper26]

I am not panicking not selling and still buying but what makes you think there will not be a fork?

[Golftech]

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?

People might not just withdraw their bitcoins; they might sell it for fiat. More people will be hesitant to buy bitcoins because of the uncertainty. In effect, that might be the cause of the dip in price we are seeing now.

just seeing that point mate, with those who really doesn't understand how the system works and only look for this as an investment not a system that will help to lessen third party when making transactions, they are the reason why this certain downfall is happening so lets see if how this things change up after aug 1 how people or investors will survive.

[digaran]

We should seriously change the way we look at these things such as chain split, as we can all see there are some other coins attracting people, many of us mining alts already you asked why?
Because Bitcoin mining is not easy any more, how long before it gets so hard that not even big companies could keep it going?
What if it grows to a  certain level that only governments could provide the electricity and maintain the operations of mining?

We are looking at it like it's a girl and when some body talks about sharing/split we get mad and our blood start boiling for no reason lol it's not a girl.
I believe Bitcoin should split every 8 years and those new chains also could split after 16 years and then 32 years and so on, eventually we'll have 6-10 coins but we know they are all forks of BTC, that is why I'd say devs should plan these forks themselves and not letting strangers to code these new coins.

We need branches, how many alts are out there? they are low volume and price but still they are actively being traded.
Do you think it's a good thing if Bitcoin grows to the difficulty level that in order to mine you'd need to harness the energy from a star?

Some body has to take the lead before strangers AKA Wu lol split us with a shady new code.

[alyssa85]

When Ether had it's hard fork (and some people continued to mine ETC), the price tanked and stayed down for about nine months.

Speculators don't like these kinds of contentious disagreements. And there will be alts waiting on the sidelines hoping to take advantage and be the bitcoin killer.

[pinky]

When Ether had it's hard fork (and some people continued to mine ETC), the price tanked and stayed down for about nine months.

Speculators don't like these kinds of contentious disagreements. And there will be alts waiting on the sidelines hoping to take advantage and be the bitcoin killer.

You nailed it Altcoins will try to take advantage of foggy situation. There are good alternative coins compared to bitcoin in terms of investing and high transaction fees.

[Bitcoinsummoner]

Well i think we should don't focus speculate what will happen in august 1 you should think that the price drop was normal every year..
Expect that we will experience of price drop just a little bit this coming august but  we will see a large pump of the price if we will see a good result that can push the value more high i am expecting that the price could be hit $3,500 after activation..
So its still possible that bitcoin will pump but we will experience small drop price..

[ethereumhunter]

Well i think we should don't focus speculate what will happen in august 1 you should think that the price drop was normal every year..
Expect that we will experience of price drop just a little bit this coming august but  we will see a large pump of the price if we will see a good result that can push the value more high i am expecting that the price could be hit $3,500 after activation..
So its still possible that bitcoin will pump but we will experience small drop price..

i am agree with you. for people which have join bitcoin for a long time ago, i think they are experience to see the price is drop and i think they don't panic because of august 1. if there will be a real pump coming in august, then i am sure that many people is waiting this moment and i am sure that they don't want missed the moment. i am sure that after the end of this month, after august 1, the price will be increase soon so lets we waiting this moment.

[deisik]

We are looking at it like it's a girl and when some body talks about sharing/split we get mad and our blood start boiling for no reason lol it's not a girl.
I believe Bitcoin should split every 8 years and those new chains also could split after 16 years and then 32 years and so on, eventually we'll have 6-10 coins but we know they are all forks of BTC, that is why I'd say devs should plan these forks themselves and not letting strangers to code these new coins

You seem to be confused

Splitting Bitcoin is not like making a Bitcoin copycat and creating a new altcoin. I don't think there will be many people honestly objecting to a new altcoin based on Bitcoin, and this is what you seem to actually mean. Splitting is more like someone taking your wife (provided you have one, of course) and claiming that she is no longer just your wife. What is it if not communism in disguise and will you like it?

[Kronos21]

When Ether had it's hard fork (and some people continued to mine ETC), the price tanked and stayed down for about nine months.

Speculators don't like these kinds of contentious disagreements. And there will be alts waiting on the sidelines hoping to take advantage and be the bitcoin killer.

And what now is Ether? If bitcoin has objective reasons for the price reduction that is why they talked about Ether? In the fall of bitcoin no one is interested so all come to an agreement after August 1, all will be well.

[moviebuff777]

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?

If the split doesn't happen, the price of bitcoin could increase. If everyone is expecting this fork and they expect a price drop as a result, then it seems likely that if nothing happens, people will jump back in aggressively.

Either way, I think bitcoin will eventually recover and the price will reach new highs at some point down the road, possibly next year.

[jaberwock]

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.

[el kaka22]

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.