Strategy for upcoming BTC fork?

[Pcahoppe]

Hi guys,

new here, been reading a lot of tips & tricks and learning a lot from all you guys so thank you for that already! 

About the upcoming Segwit2X BTC fork I was wondering what trading strategy you are considering. Given the past two forks of BCH and BTG, I assume:
1. The overpriced BTC goes immediately down after the fork and settles at near the 5k area (just an estimate).
2. The value from BTC flows mostly and directly to the altcoins.

As there is no way to accurately predict when block 494,784 is mined, there is a good chance some of us are sleeping (as I was during the BTG fork) while all this action takes place.
From logical perspective, I'd want to move my BTC to e.g. LTC/XRP/IOTA/.... almost instantly after the fork. Hereby I take my gains from BTC while also profiting from the increase in altcoin values. In a later stage, I will use the surplus from the alts so re-invest in BTC and end up with more than I have right now. However, as I will likely have most my BTC on my ledger and exchanges do not support consequential trade orders (e.g. (1) sell BTC, (2) buy XXX etc), this might prove difficult.

So.. What strategy will you be using? 

[Teraboy]

How are you thinking seriously to build the strategy to the bitcoin fork? Here's my strategy that makes me feel happy. Buy bitcoin as much as you can and then try to put all of your bitcoin into the exchange sites that already supported the forked coin b2x just like binance or hitbtc. and receive your free coin and then dump it at the early time before those holders from the wallet be able to make any transaction to the exchange site.

[fanbeila]

First,we clearly don't know that whether segwit 2x would succeed in getting majority of miner support replacing bitcoin or it would fail to get enough support,thereby creating a split in the chain and giving access to free coins.

Only if the second occurs and you get free coins,then you could immediately dump your free coins in the market.For that,you would have to store your bitcoins in an exchange which supports segwit 2x.

If segwit 2x succeeds in getting major support and replaces bitcoin,then you would get no free coins and the future of bitcoin would not be good.

[Emoclaw]

BTC is highly unpredictable and there isn't a sure-fire strategy to follow. Experts were predicting $4K by 2019 last year.
Segwit2X, like all forks, doesn't take away anything from the value of Bitcoin. It is foolish to assume that any price drop will occur just because it forks.

Since I don't trade but hold, my strategy is just that. I will most likely hold both coins or sell B2X depending on how things go the first few days.

[giveen]

'd want to move my BTC to e.g. LTC/XRP/IOTA/.... almost instantly after the fork. Hereby I take my gains from BTC while also profiting from the increase in altcoin values

This will mostly be a fail it worked for me during the previous and no doubt you can gain lot of profit but you will almost be chasing against the whole btc community right after that block occurs people rush , use their bots and you might be left behind.
Try my strategy i will buy alts like xmr , qtum a hour before the fork is going to occur and wait for 1:30 min. After that time period i would have made easily a profit of 40%. Why 40% because last time i was able to make something around it.

[BlankZuel]

I think Bitcoin Cash will win.

[bitcoinmining]

'Assuming price for B2X is $1,000' is said on cryptonews. What's the base for that? Is this new coin more precious than Bitcoin Cash?

[cryptodyn]

You say: " I'd want to move my BTC to e.g. LTC/XRP/IOTA/.... almost instantly after the fork"
I think it is a big mistake. IMHO You should convert your btc's into altcoins a few hours or even a day fefore the fork.

[faimloup]

To dispel FOMO try a hedge strategy: hold majority, and use a significant percentage to profit from an anticipated altcoin surge

[Welsh]

'Assuming price for B2X is $1,000' is said on cryptonews. What's the base for that? Is this new coin more precious than Bitcoin Cash?

Segwit2x at least tries to improve on the existing infrastructure, whilst Bitcoin cash was just like any other alternative coin. Bitcoin Gold was a scam coin. There isn't any bases on his assumption though, if it's going to sell at a fixed price then I would stay away from the coin. It's likely to get some hype though and will likely be worth something in the first few days. Hard to tell whether it will be more than that at this point in time.

[elimi]

It's hard to say whether it will be more than that at the moment

[Pcahoppe]

OK I see a lot of mixed opinions here. Getting wiser every minute

I understand from this that there is no generally accepted way of dealing with these forks.

As much as i'd like to put my eggs in several baskets I will not (for the sake of blunt greed I must admit) shift to altcoins before the fork. For the same sake I recon that many BTC holders will do the same as whether or not B2X will get support or not will only be known after the fork (proof of pudding is in the eating). ALSO, with respect to selling directly, we do not know which chain will become the dominant one. Therefore I am inclined to keep by B2X at least until that situation has become more clear.

How do you build in securities that you are not sleeping when this will all happen (stop loss orders or something)? How do you keep track of the exact status of the fork? Which block we are now and when are we 'one hour' before the fork?

[UsernameBitcoin]

The best strategy you could have for the upcoming BTC fork is to just hold your bitcoins and let them gain more value after people realize SegWit2X is just another forkcoin and has no real long term value, other than the short term speculative value it can provide. I'll be holding my coins with my Samourai wallet though as they'll have fork detection, coin-splitting, and an auto-dump feature.

[eann014]

Strstegy? Well if the bitcoin price ia slowly falling, I will transfer my bitcoin into my fiat wallet then if the price will go down I will buy again some and wait for it to increase again, so I can earn for buying it in a small amouny which is the best time fot buying a bitcoin and the best time to invest. For sure even how dip of the price of bitcoin will, it will totally increase again.

[Talenter]

I think Bitcoin Cash will win.

Why that? 

[Theb]

Words like "Strategy" and "Estimate" don't go together as it doesn't sound like it is accurate. You even mentioning the word "overprice" to Bitcoin shows that you don't know what you are talking about since Bitcoin's value has nothing to based on because it doesn't have any fair market value. The upcoming Fork my advice is to monitor the prices frequently as it can change quickly just like what happened in the previous forks.

[Persiville]

Words like "Strategy" and "Estimate" don't go together as it doesn't sound like it is accurate. You even mentioning the word "overprice" to Bitcoin shows that you don't know what you are talking about since Bitcoin's value has nothing to based on because it doesn't have any fair market value. The upcoming Fork my advice is to monitor the prices frequently as it can change quickly just like what happened in the previous forks.

Yes i think it doesn't really imply the word "overpriced" at all. You will just look like  a new guy that doesn't have that much experience in crypto, or people will just think you just encountered bitcoin by now basing on what you were saying. Market fluctuations are one that you must be keeping an eye of, there are many changes that can possibly happening since there is also this new upcoming fork to follow from the previous fork just happened.

[flowpify]

From my newbie point of view, it's extremely interesting to read all your points of view/advices. I wanted to invest in BTC, but I'm not sure it would be the right time considering the fork ahead. Maybe it would be interesting to invest in altcoins as they could gain value because people would also be scared of the fork ?

[clrpod]

I am going to hedge my bets, I will sell a portion of bitcoin pre fork and invest in alts, then I will sell another portion post fork to invest in alts (if the signs are looking good) and finally I will leave the rest in bitcoin throughout.

[Manchumichael]

I am going to hedge my bets, I will sell a portion of bitcoin pre fork and invest in alts, then I will sell another portion post fork to invest in alts (if the signs are looking good) and finally I will leave the rest in bitcoin throughout.

selling your one portion of bitcoin is a good choice. because anyhow after this fork the price drop and you can buy it again for less price. and investing in altcoins is best idea now all alts are dropped good time to invest.