There are multiple strategies you can use during /after/before Bitcoin fork event. Here's some of them, that you might find helpful.
Buy Bitcoin get Bitcoin Gold
As you all know, you can buy Bitcoin hold it until October and then sell it along with your Bitcoin Gold. There's going to be huge volatility in the market as people have experienced Bitcoin Cash. Initially, Bitcoin Cash was worth about 1500 USD, so those who sold it early got lucky and the rest of them got stuck there.
So, a lot of people will keep that in mind and try to sell it as early as possible, after all the KING is Bitcoin.
Buy Altcoins before the fork
Since people are cashing out of their altcoins and buying Bitcoin you can take advantage of this opportunity and buy your favorite altcoins cheap.
At the moment altcoins are very under-valued and it return some very good profits in case you can get a hands on it as early as possible. Just in case you are new to cryptocurrencies or for any other reason does not know where to invest you can try my list of altcoins here
Buy Altcoins after the fork
Since you have made money from Bitcoins increased value and from the Bitcoin Gold you can buy Altcoins cheap since the prices dropped due to sell offs. I believe altcoins will stay low for about a week after the fork. As last time Bitcoin rose to $5000 after the fork happened. Who knows where are we heading after 25th of October. There's a chance of potential rise in Bitcoin value. And if it rises, it would be another landmark achievement for sure.
Hold Bitcoin Gold
You can also hold Bitcoin Gold for a while and wait for it until it grows in value. I don't know why but I am more positive about Bitcoin Gold's success than Bitcoin Cash. There are a lot of Miners waiting for Bitcoin Gold. In fact, it may just split the ZCash miners in two. So, yeah Bitcoin Gold holds more potential than Bitcoin Cash.
If I were to invest, I would either go for 'buy altcoin' or 'buy altcoin after the fork' strategy. I think you can make a fortune on the altcoins during this chaos and uncertainty.
I hope this helps you.
What a shit post!
Say's a person who got more than a dozen flags!?
Anyway, i didn't put much effort into it, I accept that. But you should have just dropped your idea than dropping your junk here. Tx
All those flags came from one shit head whale and his sock puppet accounts. He got mad because I linked to my posts in the comments of one of his posts.
img credz: pixabay.com
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I personally think that going into the altcoins is now the right stuff. Everyone seems to run into the bitcoin market at the moment and from an investment perspective its bad to run with the hype. There are quite some nice altcoin quite cheap out there.
If you really want to go into Bitcoin Gold, there will be a good opportunity to buy it cheap once it hits the exchange as lots of people will try to monetarize them soon. Just my six cents.
I absoluitely agree with you. I am too of the opinion that you can make a handsome amount of money with the altcoins. Almost all altcoins are like split in value. And the good thing is that you know for sure that they are under-valued. OMG, Stratis, Waves, Qtum, Decred and many more are 50/50 down. Tx.
and always remember the golden rule, Do not to invest more than you can afford to lose... times are strange :)
Yeah, that's kinda of writing on the wall. But then I have only what I can't afford to lose :)
Indeed, the market is acting crazy. Tx :)
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Of course, the most important point is to hold your bitcoin in your personal wallet, and NOT on any exchange.
Until a few months ago, I had kept all my bitcoin on a Singapore-based exchange. Then, just a few days before the fork in August, I realized that I had to get it off the exchange. After a few days of scrambling to find a good wallet, I succeeded.
Very glad that I did.
Yes, Exchanges are risky. I just read a post about Bittrex deactivating user accounts from different countries and users complaining to cointelegraph. It's just not a good practice to leave your coins on exchange. I hope to get out of Bittrex soon.
As the crypto-space grows, we'll get more exchanges that are in it for only their own profit. And they'll take it anyway they can, legal or illegal, by hook or by crook.
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