UPDATE
WHAT IS THE BEST TIME SELL BEFORE FORKS
So lately forks ( mainly the ones where you get free coins) have been an easy way to predict price movements.
The sole reason is a psychological
factors, the concept of "FREE" resonates with human behavior to the core.
Even more so if the "FREE" part is FREE money just for holding some random coin.
As you can see 3 coins are rising very fast in the last 24-48 hours
ETC
LTC
ZCL
All of them have forks coming which give you free coins if you hold the above currencies at the time of the snapshot.
( exception- LTC isnt rising only because of the fork, multiple reasons which we have discussed many times here in the paid channel, our LTC target for 500+ still stands )
So what is best strategy to make money on these forks.
1- You buy and hold coin which will be forked and sell before the fork.
2- You hold coin till snapshot so you get the free coin as well.
So, the above two possibilities have pros and cons.
We are normally more inclined to the 1st one.
The sell strategy we like to follow is-
We wish to sell and book profits atleast 3-5 days before the fork, now many of you ask us why 3-5 days before and not just a few minutes before the fork.
So here is the answer-
Lets say you are a whale, who has 200-300 BTC invested in ETC.
How would you plan your exit?
Would you sell 1 minute before the fork?
Is it possible to sell all your bags in that small time frame?
Will there be enough buy order just before the fork to sell your heavy bags?
So you guys get the idea about it, lets says 5-10 such whales are there holding that coin.
Thats super obvious they will start diluting there holdings 3-5 days before to book profits, which in short will not allow the price to grow much nearing the fork and then just before the fork there will be a dump( in 99% cases) unless the free coin is too valubale.
So its better to get you early and keep your profits.
PS- This is just a strategy I follow, you can have your own strategy as per your goals