Hello Steemian, I sold all my BTC today at 1120$ for 3 reasons, i will discuss them shortly and i hope to read your opinion also.
1 - BTC Hard fork almost a reality now
Hard fork or Hardfork is a radical change to blockchain that result in 2 different blockchains, one of them is a permanent divergence from the old version. In other words it is disagreement about transaction end in tow different blockchain, So we will have 2 version of BTC.
The product of this fork would be BTC core and BTC unlimited, which one represent Bitcoin? Well it is hard to say now but Poloniex already made their plan to support BTC core.
Simply it is better either to avoid holding BTC till this forking issue sorted all out or to hold BTC core, keep in mind that BTC price likely will fall more.
2 - China Central bank keep pushing obstacles for trading platforms
China as the biggest market for BTC have huge effect on the price. With that in mind a news about China central bank circulate a new regulation for cryptocurrency trading platform confirmed, BTC withdrawal on hold from leading exchange platforms like Huobi, OKCoin, and BTCC. That basically freeze huge amount of BTC and will for sure and decrease total daily transaction. Someone might argue that less liquid BTC mains less offer and that drive the price up. Well not if those frozen BTC due to central authority new regulation, how these new rules will affect crypto market in China? I think it have more negativity for cryptocurrency in short term.
3 - Mining difficulty
The number of BTC miners are fixed relatively. With Hard fork each miner will chose one way to go, that will diffidently decrease mining difficulty, Moreover frozen huge amount of BTC in China will make mining easier due to less transactions per block. I think you know that when mining difficulty fall price fall and vice versa.
My plan is simple
I sold already all my BTC. I toke a position in Dash and ETH, this tow fellows on fire now, i hope price in $ will rise for both regardless of BTC fall. other option would be to keep my money in $ on my Poloniex account.