Altcoin Hardfork Strategy | Bitcoin Segwit 2x Hardfork November 16th
BTC Cash Hardfork
In today’s episode, I am going to be talking about my altcoin hardfork strategy for the upcoming Bitcoin Segwit 2x Hardfork. Included in this talk are predictions for some of my favorite coins including neo, Walton, and bitcoin.
So to start off today’s talk, let’s take a look at the bitcoin cash hardfork and what that meant for altcoins. August 1st was the date of the hardfork for bitcoin cash. At that time bitcoin was at a high of around 2921 USD, then immediately after it dipped down to a low of 2696 USD. That is just an 8% sell off, and the price immediately recovered. Within a few days Btc broke the 3000 dollar mark.
Now people didn’t receive their Btc cash token immediately after the fork. It took until the 21st of august for them to be received. Right before people started receiving their Btc cash, regular bitcoin was trading at nearly 4100, and then immediately took another hit to 3700, and immediately recover back into the 4k range.
After the Split
After the split, the price of both tokens combined was far greater than the price of one bitcoin before the split.
See now after the BTC hardfork everyone was thinking they were going to be able to dump the btc cash immediately and get the high prices that btc cash started to trade at. When it first hit exchanges, BTC cash was trading at a high of almost $900, I even thought I was going to be able to dump them for those prices. Boy was I wrong, I tried to send the BTC cash I received to bittrex, but guess how long it took to confirm my transaction…days…almost a week. The BTC cash network was not ready, so most people were waiting for confirmations. I think I finally sold mine at around 500 dollars.
What I’m trying to say is be weary of trading all your alts in btc for the free btc 2x. Both networks will be entire shit shows when the HF happens, and it may take a week to sort out, having your money tied up in a clogged bitcoin network will suck, especially if altcoins take off like I expect them to.
Let’s look at the NEO charts pre hardfork, NEO was sitting at 7.35 on jul 31st the day before the Hard fork. After the hardfork, in the days from august 1st-august 21st NEO shot all the way up to nearly 50 dollars. If you had sold your neo and had your money tied up in BTC, you could have lost major positions and coins.
Now looking at Ethereum pre-hardfork it was sitting at 200 dollars per coin and after the hardfork, from the days of august 1st to sept 1st ethereum nearly touched 400 dollars. Again, this was very quickly after the hardfork. So if I was to guide you guys and gals on what to do, Good coins you know have massive potential hold onto. I’m not touching my neo, Walton, and ethereum. But other altcoins I could lose and not die, I have already turned into btc and will use them to increase my btc 2x stack.
Now moving on over to Prices of some coins I am holding onto pre and post fork. NEO has currentely dipped down to the 25 dollar range. I predicted this low in multiple previous videos and I don’t think it will go any lower than this. Good time to buy IMO. I predict NEO is going to hover in this range until the HF on nov 16th, then hold on to your boots boys. I could see NEO surpassing $100 postfork
Walton has been getting crushed by this HF madness. It’s pretty earily similar to how neo was behaving pre bitcoin cash hardfork. Currentely Walton is sitting at xxxxxxxxxxx. I predict, Walton to recover back to the 6 dollar range and hover there until post hardfork…then I could see Walton surpassing the 30 dollar mark.