Bitcoin Price Lingers Below $6k As Post-Fork Altcoin Rally Expected

[StockBet.com]

https://cointelegraph.com/news/bitcoin-price-lingers-below-6k-as-post-fork-altcoin-rally-expected

Following the network snapshot for the first of the forks, Bitcoin Gold, money could quickly flow back into altcoins, traders are suggesting.

You agree?

[1714152519]

1714152519

[gentlemand]

If it was that certain we'd all be trillionaires. What reason is there for alts to rise? What wonderful things have they achieved in the last few weeks?

[cryptocrusher]

If it was that certain we'd all be trillionaires. What reason is there for alts to rise? What wonderful things have they achieved in the last few weeks?

I think the common assumption is that money will flow out of bitcoin after the fork and in to alts, this will definitely push up the price of alts relative to bitcoin if it happens. It does not mean they will increase in $ value because btc price could be crashing at the time. Of course if anything was certain in crypto we would all be trillionaires but nothing is. If you read the article you would have been able to see that written for yourself.

[gentlemand]

I think the common assumption is that money will flow out of bitcoin after the fork and in to alts, this will definitely push up the price of alts relative to bitcoin if it happens. It does not mean they will increase in $ value because btc price could be crashing at the time. Of course if anything was certain in crypto we would all be trillionaires but nothing is. If you read the article you would have been able to see that written for yourself.

I did read it.

I think people are getting far too lazy and comfortable banking on things to always happen the way they expect. Just when you're lulled into complacency, something pops along to smash it to pieces.

[lanyounanhai]

There is no point holing bitcoin gold at the moment because they only want to receive free bitcoin gold for free money. Therefore, they keep buying bitcoin. For me, bitcoin gold does not have any value. I can not believe that the people try to make new coin base on bitcoin. This is totally insane and trash. Bitcoin gold will be sold and people will collect USD or altcoins

[Yaunfitda]

https://cointelegraph.com/news/bitcoin-price-lingers-below-6k-as-post-fork-altcoin-rally-expected

Following the network snapshot for the first of the forks, Bitcoin Gold, money could quickly flow back into altcoins, traders are suggesting.

You agree?

Well, I'm expecting that to happened, however I don't think that investors will easily go back to altcoin if they see that they are still making huge money in bitcoin market. ETH is down like 6%, so there's still no money pouring on it. I guess investors are holding and waiting for the right timing to hold their bitcoin golds specially in Yobit. Maybe we can speculate once the market has settled down in a few days. Let's see how's everything will turn out though.

[Xavofat]

I think people are getting far too lazy and comfortable banking on things to always happen the way they expect. Just when you're lulled into complacency, something pops along to smash it to pieces.

True.  Seems pretty dumb that earlier this year BTC was at 85% market dominance and yet people are somehow convinced that this couldn't happen again just because the trend has been pro-alts over the last few months.

Especially since there wasn't that much to justify the rise in the first place.
It also depends whether you consider forks to be altcoins or just different versions.  In BTG's case it will certainly be an altcoin, but SegWit2x will attempt to call itself "Bitcoin", so it'll be a little more subjective.

[alyssa85]

https://cointelegraph.com/news/bitcoin-price-lingers-below-6k-as-post-fork-altcoin-rally-expected

Following the network snapshot for the first of the forks, Bitcoin Gold, money could quickly flow back into altcoins, traders are suggesting.

You agree?

I agree. I think it's started - if you look at Poloniex, the lending rates for bitcoin have shot up, and people only borrow bitcoin when they want to buy alts on margin.

[warrior333]

I think people are getting far too lazy and comfortable banking on things to always happen the way they expect. Just when you're lulled into complacency, something pops along to smash it to pieces.

True.  Seems pretty dumb that earlier this year BTC was at 85% market dominance and yet people are somehow convinced that this couldn't happen again just because the trend has been pro-alts over the last few months.

Especially since there wasn't that much to justify the rise in the first place.
It also depends whether you consider forks to be altcoins or just different versions.  In BTG's case it will certainly be an altcoin, but SegWit2x will attempt to call itself "Bitcoin", so it'll be a little more subjective.

It seems to me that SegWit2x it's not bitcoin in cash or gold. This can be a significant factor which will pull the price of bitcoin at the bottom. It seems to me that in November we will see a significant setback. Maybe the price will go even lower than $ 4,500. If the background of these lower prices will create a panic then we may see an even greater fall.

[bifle]

I agree with the assumption :

  Money have flown out the alt-coins in response of BTC fork announcements.
   It's obvious that money will re-flow into altcoin after forks.


 Regarding the BTCGold (BTCGPU) fork, it's not clear when it will be :
   - A block number is announced, but the website is stating a different date than the one when the block is supposed to be mined.

[Sahyadri]

This is most likely the outcome post fork. Money was shifted from alts to bitcoin for free BTG. Now when Bitcoin is quite high and most people will claim their BTG in period of 2-3 days, people will be selling their Bitcoin and correction will follow and money will flow back to alts. Altcoins which are suffering almost 50% drop will recover now.

[posi]

I don't agree with you mate just because of slightly dip which happen to bitcoin due to the upcoming forks. However, the dip happen because of some exchange and wallet which don't support the forks cause bitcoin gold developers have not made the code available to the public for review.

[dmamigo]

Altcoins does have chances to go up after fork and recently the announcement by various exchange about the non support for the fork might have triggered the action of shifting or selling BTC. So both rally indication and exchange announcement mostly triggered the slight price drop.
But it won't fall much as I have encountered users with confidence regarding the fork and till now they seemed to be not panicking.

[aardvark15]

https://cointelegraph.com/news/bitcoin-price-lingers-below-6k-as-post-fork-altcoin-rally-expected

Following the network snapshot for the first of the forks, Bitcoin Gold, money could quickly flow back into altcoins, traders are suggesting.

You agree?

I don’t know if a post fork rally is really guaranteed. Some people say that there could be a drop in Bitcoin price if people bought Bitcoins right before the fork to get the Bitcoin Gold and are going to sell as soon as they do so.

If enough people sell, the price could drop. It also looks like the Chinese markets are not as heavily buying as the American exchanges. This could mean that there is not a lot of support for a really right now.

[jjacob]

https://cointelegraph.com/news/bitcoin-price-lingers-below-6k-as-post-fork-altcoin-rally-expected

Following the network snapshot for the first of the forks, Bitcoin Gold, money could quickly flow back into altcoins, traders are suggesting.

You agree?

Nope. The effect of the Bitcoin-gold fork has been overestimated. The coins will be worthless and not many people will be buying bitcoins just to get Bitcoin Gold.

[BitHodler]

It's nothing more than empty speculation. It's almost embarrassing how low quality prediction related articles are getting. I get it that there isn't much to report about, but there is no need to push these kind of articles online.

They just assume that the market has increased in value solely because of this fork, and thus will automatically result in people selling their Bitcoins for altcoins, or whatever, after the fork.

If the market indeed happens to go down after the fork, which would imply that the market for a certain part has actually increased because of this fork, then it just shows how delusional and greedy people are, period.

[MiningSensei]

I am expecting to see bitcoin going down by a few hundreds once that everybody receives their btg, but not more than $400, i dont think that bitcoin will touch $5500 or maybe a little more after all, it is showing a strong support barrier on the actual price (around $5900) so it is kinda difficult to see it going down, but of course, a lot of money will go back to altcoins again, or maybe to withdraw them as profits, but who knows, we dont know what is going to happen.

[pooya87]

it was not the post fork money flowing back from bitcoin to altcoins. it was the fact that bitcoin price went down only because people expected it to go down like this and also because of the fact that this reversal always helps altcoins that have been dropping for a couple of days consistently to make a recovery.

and now they are just recovering from all that dump to gain back some small part of their price.

[bubblebit]

https://cointelegraph.com/news/bitcoin-price-lingers-below-6k-as-post-fork-altcoin-rally-expected

Following the network snapshot for the first of the forks, Bitcoin Gold, money could quickly flow back into altcoins, traders are suggesting.

You agree?

Nope. The effect of the Bitcoin-gold fork has been overestimated. The coins will be worthless and not many people will be buying bitcoins just to get Bitcoin Gold.

Seconded. This bitcoin Gold coin will not be as successful as bitcoin cash, the supports and investors are missing to gain a momentum to have a higher price. This coin has been overrated as the same time, it happens when bitcoin price is at 5000$ - 6000$ that for sure, some have sold they’re bitcoin on a reason not supporting bitcoin gold.

Altcoin investment is not as active as of before, and I think bitcoin will still hold its price and more increases after the fork and it will not go dip.

[ultrloa]

https://cointelegraph.com/news/bitcoin-price-lingers-below-6k-as-post-fork-altcoin-rally-expected

Following the network snapshot for the first of the forks, Bitcoin Gold, money could quickly flow back into altcoins, traders are suggesting.

You agree?

Nope. The effect of the Bitcoin-gold fork has been overestimated. The coins will be worthless and not many people will be buying bitcoins just to get Bitcoin Gold.

Surely yes since not all of the guys out there can afford to buy at 6000$+ at piece but for the fact that BTC gold is coming to be drop for the holders, I'm sure that many people who earn on various camps,trades and etc will hold there btc for that events. That's the reason why I can say that there's a point for believing that BTC gold scene will help btc rise and I can't blame you for your belief regarding on this. But I also believe that many people wants to earn from this coin and maybe it will be hype soon.

[snowdropfore]

fork and fork ,but didn't affect bitcoin at all .just giving us free money. seems when the segwit2x fork done, the bitcoin will start to take off.

[phr0stbyt3]

This was expected the reason everyone were dying to get bitcoin gold is only for the free money not because it same creepy algorithm which is apparently more profitable than bitcoin and the hardware is also cheaper it just that free coin , regarding money flowing back yes that would surely happen as soon as withdrawals are enabled

[sofi@]

Because we experience price drops in the first hard fork many expects that the same thing will occur in this upcoming second fork but for me I don't think we will experience that again because the value of bitcoin continuously increasing and the alts were the one who drops in price. I am positive that bitcoin will not crashed in November