IMPORTANT DISCLAIMER

BTC/USD 27.07.2017



 

The market participants and, probably, the entire cryptocurrency community are awaiting August 1. Following the adoption and activation of BIP91, a significant increase in the BTC/USD pair from 1,900 to 2,900 was observed in the period of July 17 to 21. Then a little adjustment was made, which is not surprising because smart money began to record profits in the resistance zone. This happened in the course of resumed negotiations regarding the fork and against the Chinese miners' intention to launch Bitcoin Cash. Currently, there is a plenty of information and analytical data regarding BIP91 and Bitcoin Cash, so we’ll not describe them in detail.

 

What will happen to the price?

As of today, the key events are as follows:

1) Carefully monitor the hashrate. It's difficult to say what version will have a larger hashrate; therefore, the distribution of the hashrate will directly affect the price of both coins.

2) Monitor the projects running above the BTC blockchain. The price will also be affected by their selection.

These questions can be responded in different ways.

2 scenarios are the most probable:

1) Despite the absence of specific data, it shall be considered that Bitcoin Cash is little supported. Companies that supported Segwit at Consensus have the major interest in the market. Therefore, the most probable scenario is that on August 30-31 the owners of 90-95% of the hashrate will publish a joint press release on the support of the agreements signed at Consensus 2017. Therefore, BCC will receive about 5% capacity or less (which is most likely). According to this scenario, the BTC price will test the resistance zone.

2) One of the companies will announce its refusal from the agreement and support of Bitcoin Cash, which is less probable but likely. In this case, the consequences can be hardly assumed. Everything depends on the hashrate share obtained.

 

The first scenario is likely to happen because the second one is the Pandora's box with unpredicted consequences.

For the majority of bitcoin holders, the best variant is to wait for the outcome by keeping money in the place blocked by the known private key (the situation with BTC is illustrative).

 

In addition to conventional storage, there are hedge strategies. For example, LTC demonstrates its high strength, and it is a great hedge for BTC. Risk-free investors should not forget the ordinary cache or stable coins. Tether is a good option to wait out turbulence.

 

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