We are seeing right now, a few days before august 1st, bitcoin nearing 2800$ despite the rest of the market being mostly red. Leading up to the fork on august 1st people don't seem scared at all and BTC keeps on going up. Contrary to what happened a few days back where bitcoin went to a low of 1800$ and all the altcoins followed, this time the altcoins are not folowing bitcoin in its pump.
Keep in mind the percentage in red on the image above is the drop in dollar value, seeing as BTC is increasing in dollar value, the pairing in BTC with the altcoins must be dropping a way higher percentage.
So, in terms of BTC value STEEM is currently in a big dip right now, it's currently priced at only 0.00045481 BTC, so if you had sold off your alts early before this happened you would have gotten an awesome deal on the altcoins right now.
The reason for this happening could be that people are selling off their altcoins for BTC and withdrawing from the exchanges in hopes of getting some BCC(Bitcoin cash) resulting from the split on 1st of august.
If you want some BCC too check my post here: https://steemit.com/crypto/@joaol/very-quick-guide-to-get-bcc-on-1st-of-august-btc-uahf
In my opinion once everyone gets their BCC the coin will drop in price like a rock because the majority of people are only interested in selling it off, right now BCC is priced at 400$ on ViaBTC, I can only imagine the traffic the exchange will get once people receive BCC.
After 1st of august I believe the money will move back to the altcoins but BTC might still go up since the UAHF will finally be past us. So there might a big BOM on the market and prices of all coins will rocket past the moon(at least until the next hardfork later this year).
That will be all, peace out.
For info on some of the best ICOs coming out check my posts on:
Mybit - https://steemit.com/ico/@joaol/ico-watch-mybit-ico-with-huge-potential
SaltLending - https://steemit.com/crypto/@joaol/ico-watch-salt-lending-private-sale-85-discount
For info on how to participate in ICOs check my tutorial here:
https://steemit.com/crypto/@joaol/how-to-participate-in-erc-20-icos-for-dummies
Note: The SaltLending ICO is a pre-sale, and all you need to do is create an ethereum wallet and register with it, once your get accepted (usually takes a few days) you'll need to send BTC to the address they give you, the tokens will be sent to the ethereum address you registered with, 15 days after the public ICO.
FREE 50 NLC2, 2.5$ now 50$ in the future!
The launch of soccer fantasy sports is in 12 of august.
Right now you can register on http://cryptofantasysports.com and get FREE 50 NLC2(2.5$), you have however to play the game come August to withdraw, so you might end up with more NLC2 if you play fantasy soccer well 😉.
Disclamer: I'm NOT a financial adviser, please carefully research the project and make your own investment choice! I'm just a random guy on the internet exited about this.
Yeah I thought it was strange at first that BTC was going up as we were getting closer to August 1st but I think your explanation is a good one. People getting into BTC and withdrawing to their wallets to hold both coins. And honestly who knows the bitcoin cash might gain some traction and that could end up looking like a really smart move - no real risk to hold btc in your wallet while the fork happens and if btc cash goes anywhere you are in at the beginning
Good pro
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