At least the price will be stable or raise when BCC holders panic sell after they got hold of that coin in my opinion. Would a person hold onto BCC which they do not have much idea of its future potential of exchange it for something like Ethereum where they know ETH is going to stay in the market for good. Whats the point of holding BTC and BCC if the total value of both coins a person hold might go lower than what they bought before 1st Aug.
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Yeah, I am also with @tarekb on this that the combined value of both BTC + BCC is not going to be lower. In fact, what I am expecting is, people will immediately sell their BCC gained after the split to make some profits, because of doubts regarding the future of it, as you said.
So, the value of BCC is so much expected to go lower but the BTC, it might be lower for few hours after the split. After that, I am expecting to touch new heights. And, all the cryptocurrency including ETH dance along with bitcoin (evident from the past), so I am also expecting ETH to go up with that, and hence my suggestion to load it up now. :)
I doubt that the combined value of both BTC + BCC will be lower after August 1st. Let's wait and see :)