Tomorrow's the big day. If you want to know what fear and confusion looks like in the market here's a perfect example. Nobody is sure what's going to happen tomorrow. At the same time, this chart doesn't look any different from any other chart, because they all represent the same human variables.
I'll be watching the daily candle today for insight into tomorrow. I am expecting the fork and low liquidity to cause the price of bitcoin to tumble to around 2300 tomorrow before continuing its bullish run. However, the low liquidity could work both ways and drive the price up to unsustainable levels for the time being. So be careful and don't get caught chasing a candle tomorrow. Let the price come to you.
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Got a quick retest of the 3000 level after the strong daily close, but we did not break the ATH and now we are retracing. Looking at the value of BCC today up over $400! With Bitcoin not even budging I am expecting BTC to test $2300 area.
The August 1 date is just one step, and by now a forgone conclusion. Some miners have signaled that they will fork bitcoin (they do not trust that the block size will be increased after sigwit is enabled) The next big step is around November 18 with a hard fork and increase of block size (which is what the miners wanted in the first place). I guess my thought is, will this uncertainty continue for some time? and not just Bitcoin but all Alt coins move forward tomorrow?
For anyone who wants to look into this further
For anyone who wants to look into this further
medium.com/@jimmysong/uasf-segwit2x-scenarios-and-timelines-1a540336c4be
and
coin.dance/blocks