Price dump from a Bitcoin folk?

[Bitcoin Guy]

Knowing that the value my investment will probably continue to fall till the current suggested scaling solution is agreed up on and that the issue is fixed, I am still HODLING!   I could pull them all out and wait for a good time to go back, but with the buy and sell limit restriction and tax consideration, it may not be a good option.  I already got screwed from buying because of the weekly cap and do not want to get screwed again.

I think many investors do not know how to save their coins into a cold wallet and do not want to take the time to learn how and the chance to do it.  As a solution for the problem, they just cashed out from cryptos for now.  Money will come in and pumps up the price again when everything is settled - eventually.  Just my humble opinion. 

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[Bitcoin Guy]

No fork, no dump!

Hope it keeps that way.

BIP91 will likely to be locked-in and Segwit2X will be implemented.  It seems like when Segwit2X gets implemented on Nov 1st, there will most likely be a fork as having 100% of support is almost impossible.  There will be two Bitcoins.  The consequence will probably cause some price drop in the beginning.  Just hope that nothing major bad will happen.

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[Drnice]

And the most important question is - would Bitcoin price drop in the short run or even in the long run due to the folk?

What do you think? 

The price of Bitcoin is sure that it will drop, before August first, and some days, weeks or maybe months before we start looking at the increase in the price of Bitcoin.
But the drop in price of Bitcoin will not be in too much long run.

[Adbitco]

It is FORK not FOLK.

I also believe that the uncertainties about the upcoming activation of segwit is the main reason why we are experiencing a very bumpy road. And the price had become surprisingly stable in these past days.

The fork issue is not yet final. There is no formal announcement that there will be a hard fork at about 3 months after the activation of Segwit so nothing is to worry about, for now. However, if ever there will be a split on Bitcoin's chain, I am not sure about how can people cope with that event. It might be catastrophic.

It won`t be catastrophic,don`t scare the newbies OP.
Do you remember Bitcoin Unlimited?What happened to BU?
Bitcoin will survive the fork and will grow stronger.The only problem will be when all the newbies (like the OP asking the questions in the thread)panic and leave bitcoin for some altcoin like ethereum.

I agree fork or no fork bitcoin will get only stronger. Bitcoin has already survived such crisis in the past and every crisis makes bitcoin much more stronger and I hope it's not going to be different this time too. Just don't panic, don't create fud and you will be much happier than ever

[Bitcoin Guy]

BIP91 LOCK-IN PERIOD:
44 blocks before current lock-in period ends. Still 29 blocks needed for a lock-in.
There are 82.2% BIP91 blocks mined in the current period.

https://www.xbt.eu/

As the lock-in becomes more premising, the higher the price moves.

[holtzmann]

It’s no wonder that Bitcoin price is unstable during the time of a probable hard fork. Although I thought that the exchange rate would go down even more dramatically than it is now. I currently have Bitcoins on my wallet and don’t plan to withdraw them. This is not the first and certainly not the last time Bitcoin comes with hurdles. I’m sure it will stand.

[Bitcoin Guy]

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork.  It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

[richardsNY]

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork.  It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Higher than before the fork? You can't seriously look at Bitcoin from that point of view. Bitcoin at current levels is just 10% shy of its previous all time high. Add that this period has been pointed at as being quite volatile due to the given circumstances. Give it some time, and Bitcoin will blast through the $3000 level this month, no doubt about it. Regarding BCC, most exchanges and services will end up listing this altcoin. But the thing is that Bitcoiners will only end up taking advantage of this fork just once. Some people will look to liquidate BCC at the very start, where others prefer to wait for BCC to recover in price.

[PancherBitCoin]

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork.  It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Higher than before the fork? You can't seriously look at Bitcoin from that point of view. Bitcoin at current levels is just 10% shy of its previous all time high. Add that this period has been pointed at as being quite volatile due to the given circumstances. Give it some time, and Bitcoin will blast through the $3000 level this month, no doubt about it. Regarding BCC, most exchanges and services will end up listing this altcoin. But the thing is that Bitcoiners will only end up taking advantage of this fork just once. Some people will look to liquidate BCC at the very start, where others prefer to wait for BCC to recover in price.

The fact is that you can evaluate the events differently, Because there is that 16 hours ago the price of Bitcoin was 2800 dollars, and already now we are seeing at 150 dollars lower. To explain the current trends is still difficult. It remains for us to observe and abstain from carrying out any transactions for the time being.

[liuqi]

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork.  It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Now bitcoin value is taking up this charge and value beginning to move up and moving towards 3000$. I don't think next 6 months we won't find any dump in the price chart. You can invest now and buy it as much you can to see the profit in future.

[BitHodler]

It’s no wonder that Bitcoin price is unstable during the time of a probable hard fork. Although I thought that the exchange rate would go down even more dramatically than it is now. I currently have Bitcoins on my wallet and don’t plan to withdraw them. This is not the first and certainly not the last time Bitcoin comes with hurdles. I’m sure it will stand.

If you read back how people were panicking over the 1st of August, they all were expecting the price to start tanking big time ~ it shows that people greatly exaggerate the situation, as always.

On the other hand, panic selling allows people to enter the market at lower levels, so from there we shouldn't be complaining about the volatility that we have been experiencing lately.

Fact is that people worrying about the price don't know what they are doing, and don't understand that in the long term due to the demand, the price will only increase. This market counts too many short term noobs.

[pisston]

It’s no wonder that Bitcoin price is unstable during the time of a probable hard fork. Although I thought that the exchange rate would go down even more dramatically than it is now. I currently have Bitcoins on my wallet and don’t plan to withdraw them. This is not the first and certainly not the last time Bitcoin comes with hurdles. I’m sure it will stand.

If you read back how people were panicking over the 1st of August, they all were expecting the price to start tanking big time ~ it shows that people greatly exaggerate the situation, as always.

On the other hand, panic selling allows people to enter the market at lower levels, so from there we shouldn't be complaining about the volatility that we have been experiencing lately.

Fact is that people worrying about the price don't know what they are doing, and don't understand that in the long term due to the demand, the price will only increase. This market counts too many short term noobs.

After those bad predictions that said that on August 1 there will be total lawlessness, I no longer believe anything, because to date, bitcoins, if even dropped, it is very small percentage. Only 1 or 2% of the fall. This is very small And today it is starting to rise again.

[Bitcoin Guy]

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork.  It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Higher than before the fork? You can't seriously look at Bitcoin from that point of view. Bitcoin at current levels is just 10% shy of its previous all time high. Add that this period has been pointed at as being quite volatile due to the given circumstances. Give it some time, and Bitcoin will blast through the $3000 level this month, no doubt about it. Regarding BCC, most exchanges and services will end up listing this altcoin. But the thing is that Bitcoiners will only end up taking advantage of this fork just once. Some people will look to liquidate BCC at the very start, where others prefer to wait for BCC to recover in price.

When I said "before the fork", I did not mean the peak price, I was referring to the price like last night or something.

I am reposting this from a thread which I just started to try to answer some of the questions people raised in this thread (notice that this is just from an average Joe's opinion):

It looks like BCH is here to stay.  For now, it seems that the combined value of both BTC and BCH is, consistently, around $3000.  When BTC goes up by $50, BCH goes down by $50 and vice versa.  Not sure how long this relationship will last.  I do not mind for my exchange to sell off BCH now in exchange for more BTCs.

They said that Bitmain and Roger Ver were going to sell off their bitcoins and put the money into BCH after the fork and they are probably doing it right now.  That is why the price of BCH is sustaining at this moment.  Once they run out of the capital from selling bitcoins, the price of BCH will probably drop.