There is a lot going on these last few days about a possible hard fork on aug 1.
Well, let me tell you guys something!
Please don't follow up on all the positive/negative news you get everyday BUT...
IF we analyze why news spreads and how it influences the price.
Positive news is offcourse always a good thing to jack up the price so that whales (mostly) can short their coins and collect the profits. Almost always comes a period of 'correction' (when they sold out their coins) of downfall untill 'consolidation' kicks in.
In this period all those who sold will buy again and stabilize the price. Now, who is not affected by this action, are most of us, the HODLER'S. We are in it for the long run and won't sell untill it hits a few thousand or hundreds of thousand USD.
No matter what anyone thinks or whales who buy and sell and buy and sell: WE CONTROL THE PRICE.
Price is volutile because of them but it continues in an upward trend because of us.
We who buy and HODL and buy more and HODL more.
If we continue to do this, we will continue to keep the price up and push it going up.
Everyday new bitcoiners join our community and buy bitcoin or altcoins and turn fiat into crypto.
And that, my friends, is where the real money is.
We are on a millionth of all the cash in the world and just think, dream, imagine, in about 5 or 10 years how much currency will flow towards the community!!!
Now about the hard fork: some are suggesting it is negative news to lower the price because the last FUD (Fear, Uncertainty, Doubt) caused the price to drop more than 20%. Now that they have tasted that percentage they want more.
On the other hand the scaling issue isn't resolved with bip because some miners didn't agree to the solution and pushed their resolution anyway forcing to split.
Best you can do is NOT sell your coins or even buy into altcoins.
Alts always go down with bitcoin and drop massively so you would have a loss there.
If you sell your coins into fiat, you might not be able to buy back at same price and you make the price go down which has a ripple effect and others join the FUD.
Here's what you do: keep your coins out of a exchange (definately if you margin trading or lending) and transfer them to a secure wallet (not coinbase=walletexchange) where you hold the private keys from.
If you don't have that you can always make a paper wallet and store them there.
Then and only then you are completely protected from all influence of a possible split and in full control of your coins.
Feel free to read or see more at:
https://news.bitcoin.com/what-every-bitcoiner-should-know-about-bitcoin-cash/
Talk to you later!!