Dear Readers,
Cryptocurrency enthusiasts all over the world keep a close eye on August 1st. That is only normal, as that is the day which Bitcoin splits. Most of the exchanges will halt Bitcoin trading during that time as well to avoid any issues. We are all uneasy to see what will come with this Bitcoin fork. I will give you a breakdown for this week on how to tackle this upcoming fork, we have seen our early week green runs across the board providing false hope to the market and people likewise who think that Bitcoin is back and stronger than ever. THOSE PEOPLE ARE WRONG. Between today and Friday, we will start to see a split between green and red and this weekend we will witness a beautiful bloodbath across the board... so get those wallets ready for a HUGE clearance sale.
TIPS:
Litecoin enthusiasts see August 1st as a golden opportunity. In fact, it may become the go-to cryptocurrency for at least one full day. LTC Remains unaffected by these Bitcoin debacles for the time being and is one of the most stable coins during these times.
But Crypto Oracle, what if we already have money in the crypto market?
Follow these steps to minimize loss and MAXIMIZE future gains:
Charlie Lee has created a beautiful project in Litecoin which is the PERFECT hedge against Bitcoin. I would recommend selling your coins and buying into LTC asap.
This weekend purchase the coins you want to hold for long term with your extra cash (ANS, STRAT, STEEM.. etc.) - these are some of my picks
On the dawn of Sunday sell your LTC that has been stable or green all weekend for altcoins have plummeted, rebuying them at a cheaper rate and you will have accumulated 10%+ easily! I suggest HODLing some LTC for August 1st though as well, it will have an incredible day!
We can already see that mid-week mix between green and red starting:
Let me know what strategy's you have lined up in order to combat BIP 148!
Follow me for more crypto tips!
Great post! I have some buy orders in place for Steem, SC, LBC, and BAT. I'm trying to stay strong and wait for the weekend so I can make sure I get it at these prices! Let's hope for a blood bath!
Agreed! I bought some of these currencies at very high costs but i'm hoping I can average down
Some useful tips.
Be careful with LTC though, if you're too slow to switch back you could lose out. It could dump fast if people quickly start exchanging it back for Bitcoin.
Upvoted
@incomepal
Never sell everything, no matter what it is. Also, maybe buying some Dash alongside the litecoin could be a good idea.
I very much agree, I always stress to HODL and accumulate. It is just another option for some people if they are feeling a little risky.
Thanks @crypto-oracle, very interesting. I've never seen any of your post. I'll start following you.
But I have a question, in order to maximize the benefits of short trading, it's supposed you should move from crytpo currencies to USD and vice versa, but is there any wallet to allow you to move to USD or do you do everything in a exchange?
Yeah, I have heard that as well! I have never encountered a wallet that does that directly in almost near real time. I would assume exchanges would be the way to go for that.