My Strategy for this ZClassic - Bitcoin Private Hard Fork
So a lot of buzz has been going around this upcoming Hard Fork of ZClassic (ZCL) everybody is excited to receive their free Bitcoin Private Coin.
The scheduled Snapshot date stated on the Bitcoin Private Website is February 28th, 2018 and the Hard Fork Date and Main Net Launch is approximately two days after.
The price of ZClassic has had a change of over 10,000% over the past 90 days which is due to the announcement of the Bitcoin Private Hard Fork. I truly wish I had bought in from when it was at around $4 before the announcement of the fork, ever since it has skyrocketed.
Taken from Coinmarketcap.com
Well I did get in on some of the fun at around $99 and now ZCL is fluctuating at around $197 which is roughly 100% profit since I jumped in. So now that you have a tonne of ZCL in a Wallet (Electrum) waiting for the fork with gains of over 100% I know thoughts of cashing out will be there and a lot of other questions bubbling in your head....
What will the value of BTCP be?
What will ZCL be after the fork?
What if both coins sink after the fork?
Below I will discuss the options that you have available:
Option #1
There is no doubt that after the hard fork ZCL will sink instantaneously maybe even to its correct price of $4 but as it relates to the price of BTCP nobody knows what price it will come out at or what price it will go up to in the first couple of months. So a safe bet would be to take your gains and forget about BTCP and no one could ever object to that.
Option #2
This option is basically trying to sell all your ZCL just after the announced block height has been reached hoping that somebody will be on the other side ready to buy. Its extremely risky because normally nobody would be willing to buy ZCL at a time like this if it doesn't work you will be stuck with a tanking ZCL and an uncertain BTCP (my opinion) and I really hate the unknown.
MY APPROACH
My strategy will be an hybrid of both. The day before the fork I will be selling half my holdings hopefully with upwards of 100% gains and I will leave the remaining half for the fork and as soon as the block height has been reached I will quickly move my ZCL from my wallet to Coinexchange and try to sell there. If I do get it sold it would be my dream come true(worth a shot) if not I will know that I locked in some profit from selling half my position which should be able to cover the tanking zcl while still getting some BTCP to me thats a win win :)
IF YOU WOULD LIKE TO KNOW MORE ABOUT THE UPCOMING HARDFORK COMMENT BELOW
P.S. I'm not a financial adviser please do your research and never invest what you can't afford to lose.
I also have a referral link to coinexchange
This was my plan as well, but now zcl is sitting closer to 100$ not 200$ and I bought around 150...I was expecting it to get closer to 300 prefork and now I'm sitting here like a fool with all this zcl just hoping it to go back above 200$ prefork to gaurubtee gains...ah what do you think will happen these last few days when it's only at $130 right now??
With the recent dump in ZCL price, I have bought more at this dip to average out my coin price. My previous average price of 1 ZCL was $140, now I have brought down the average price to $105.
This hopefully should cut down my potential overall loss should the final price at 5pm UTC 28th Feb finish at $100 per coin.
This scenario of course doesn't take into account the potential price of BTCP at the fork which should hopefully provide some hope for profit (if I sell).
Very good post today my friend, keep up for success <3
Thank you!