Bitcoin and Bitcoin Cash Craze
From what I have gathered in the trading community there is presently a craze for getting Bitcoin Cash during the hardfork and many are thus hoarding BTC and the plan is to dump the Bitcoin Cash as soon as it becomes tradable.
The problem with this way of planning is that if enough people are doing it, it will take no time and the Bitcoin Cash will be worth hardly anything. At the same time it devalues Bitcoin as Bitcoin Cash will essentially steal it's market share directly from Bitcoin.
My approach is different, as I have observed ETH now moving quite independently from BTC for a few days:
- I have bought ETH cheaply and will now be holding that for some time.
- If the fork has any issues at all, people are going to dump BTC and probably get into ETH. Even if there are no problems BCC will erode it's market cap, probably quite significantly at first.
- I will sell ETH when BTC has bottomed out and buy BTC and some BCC when the price is even lower after a while.
- Get into alts that are known to grow BTC price increase exponentially.
If you believe in BCC and plan to hold it, there is no point in keeping BTC for that at this time. You will be able to buy them way more cheaply later.
I welcome your comments. :)