/biz/ - Business & Finance

>>10110747
who cares? It's about trajectory and potential at this point; everyone knows cryptos are useless currently - BTC just isn't doing anything to solve the problem

Normally: BTC goes UP, alts go UP
Normally: BTC goes DOWN, alts go DOWN

Today: BTC goes UP, alts go DOWN

What gives?

Bear market occurs over uncertainty associated with hardfork. ICO fiasco happens, reducing crypto market cap. Prices drop. Segwit gets locked in, BTC price recovers to near ATH, but fluctuates just under it because of the August 1st hard fork.

Here's the thing: BTC is close to it's all time high, yet ETH and other alts are still unrecovered.

This is because people have been moving there money out of alts and into BTC in order to get BCC. Most I would say think BCC will be low value, and not even Coinbase plans to support it.

That means, current BTC price is the highest it will be, because it is already inflated by the buyers looking to secure their BCC.

If BCC has value, BTC drops. If BCC is valuable, BTC drops by that amount. Either way, BTC will drop because there is no new money coming into crypto like in the last bull run, that was fed by the Ether and ICO craze.

So, what I'm saying is, BTC price is overinflater due to the BCC buy-in, and will drop in price regardless, unless people gain confidence and decide to put new money into the crypto market.

There will likely be uncertainty after August 1st because BCC and BTC may play against each other in the favor of whales, or BTC will win and be at the Marcy of the Chinese software upgrades, while could affect speculator confidence.

Thoughts?