As we approach the upcoming Bitcoin Fork, i'm sure many of you are wondering what to do.
While the majority of traders, as seen in this previous week and earlier, have started to slowly exit Altcoins and/ or accumulate as much as possible BTC in anticipating of their grabbing their share of 'free $hit' aka BTG, my plan is going to be relatively different.
What we have seen in the past, with the BCH fork was that Altcoins have reached their absolute low around 5:50-5:55am on Bittrex, 5-10min right before the snapshot that was taken on the exchange. Then like a pack of sex hungry hormone driving teenagers everyone rushed into Altcoins shortly after trying to one up each other for easy gains as investors slowly enter into Altcoins thus giving Altcoins much need jump in price.
What actually happened: While the price of BCH did fluctuate heavily the first few hours the remained somewhat stable around 400-500$ that morning. Considering BTC worth in $ this was only 10-15% of BTC's value that these investors have gained. While free, traders did have a much better option.
What I suggest: Skip the BTG snapshot, unless you have a large amount of BTC on an exchange, roughly around 10+ this fork would bring little value to you. instead consider using this moment to position yourself in Altcoins you think might receive the highest growth % that day.
What I saw on the morning of the snapshot was that many Altcoins have increased their value by over 20-30% in minutes. Thus, mathematically speaking it would make more sense for the trader to position themselves in this manner .
What your dying to know- What coins will I enter myself? Here are the top 4 coins I will position myself in, and my reasoning for this.
SNT - SNT will have a big month in November as well as being the main sponsor of Devcon3, which I imagine will raise hype thus raising the price, good idea to get a comfy seat this week :)
https://twitter.com/search?q=%24snt&src=typd
STORJ - STORJ has recently partnered with SNM as well as other project, last Altcoin run this coin went from 40 cents to $3. So i definitely expect at least a 3x from this cunt. This coin has the potential to reach $2 again.
XEL - XEL is so far below its ATH last altcoin, I strong expect this to come back to atleast 10k sats if not more
ZRX - ZRX is currently priced at 33xx sats, this is an insanely low price for such an ambitions coin. With the increasing use of Radar Relay, I'd say its about time this asshole starts rising as well. Besides this project also has some big events this November which is sure to raise hype and price.
Final Words: I'm starting to sober and all of this was just me thinking out loud.... right?....