Dear friends, we all wait for Bitcoin SegWit. It's a period of uncertainty now and we must think about how to protect our deposits. I just advice to spread your invested money in different coins and leave a part of your deposit as free money. Don't hold big volume only in Bitcoin. Diversification is a very important part of stable and profitable trading in long term. Good luck!
Thanks for the heads up... I believe August 1st is Y2K all over again. Whole lot of fear of a technical issue that amounts to nothing, in an industry that's bloated with hype.
Y2K happened, nothing happens because there was nothing to fear in the first place, everybody thinks everything is fine, everyone goes back to overextending, then the .com bubble burst (the real issue)... markets crash, people lose a lot of money.
Watch markets skyrocket in early August, then crash later.... hopefully not, but I lived, and lost a good chunk of change when the .com bubble burst, I'm going to be very cautious over the next couple of months.
Lou_Garoo
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@flipper55, buy on the dips, sell into the momentum. I wish I had more fiat to get free BCC. Look at what happened with ETH and ETC? Sheesh.
Also very important to keep your bitcoin not on an exchange and transfer it to a wallet of which you hold the private key. So if it really splits you have coins in all the different "bitcoins".
@janober, I would recommend contacting the support staff if you use an online wallet or have your funds somewhere else then in a private wallet with your own keys. I have some btc in an online wallet (Spectrocoin) and asked staff if I would get both currencies and they said yes. So in this case I dont have to transfer the funds and can save the transaction keys. But to be safe you can do it whatever 'staff' says of course..
@janober, I think I would use a paper wallet, looks like it's quite safe. Thank you.
valueerror
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if you firmly believe that btc is going to drop hard in the next 5 days, i'd go into USDT... if you don't want to risk being wrong and miss an upcoming pump stay in BTC on your own private wallet where you own the private key (that way you could even take profit from a bitcoin chain split - fork )
staying in alts is very risky in my opinion because if bitcoin drops 10 percent - alts are also going to drop in BTC and most of the time they drop 3 times as much... so staying in btc could allow you to buy very cheap alts..
the logical thing of course would be that alt coins (which should not be affected by the bitcoin problems - but they are ) would rise in price when btc dumps ... if 10 coins of an altcoin are worth 1 btc and btc loses 50% those 10 coins should be worth 2 btc... but that's just not how it is and history shows that those 10 coins would be worth nothing after this theoretical crash...
there is always the option to just sit it out and do nothing :-) if you leave your btc on the exchange nothing special will happen.. most likely you won't get "bitcoin cash" for your bitcoin ( but heck - the exchanges could actually do that for you... why is no exchange fishing customers with that idea ? )
those altcoin bubbles already popped... most of them corrected at least to the 0.78 fibonacci support.. that's more than enough already... it's not set in stone that they will (again) drop that hard if btc drops...
and last but not least - btc is already dropping...
who knows ? perhaps it's going to bounce from the 0.5 support/demand zone (see screenshot) because a lot of people want to grab "cheap" btc before the pump to 3600.-- (goldman sachs is talking about) is coming.... we'll see....
flipper55
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@valueerror, agreed. Alt-coin "diversification" is like putting eggs in different baskets, all in the same truck that's going down a bumpy road.
Go Fiat, bitcoin in cold storage, or wallets that can handle the split... I thought ltc was going to be safe, but its tracking right with btc the closer we get.
Y2K happened, nothing happens because there was nothing to fear in the first place, everybody thinks everything is fine, everyone goes back to overextending, then the .com bubble burst (the real issue)... markets crash, people lose a lot of money.
Watch markets skyrocket in early August, then crash later.... hopefully not, but I lived, and lost a good chunk of change when the .com bubble burst, I'm going to be very cautious over the next couple of months.