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Free Cash!
For the last week or so I've been contemplating what do in anticipation of tomorrow's Bitcoin Cash hardfork.
On the surface it seems a great opportunity to sell some altcoin, pick up some extra bitcoin and scoop up some 'free' Bitcoin Cash.
Second guessing
In many ways the 'sell-your-alts' ship has partially sailed. Most coins are a long way off their highs of a few weeks ago.
However this is crypto. Just because coins have dropped, doesn't mean they cannot drop further. And just because bitcoin is approaching it's all-time high doesn't mean it can't break through resistance and go on a massive bullrun.
Knowing MY Plan
I'm not going speculate on what's best for others. depending on your circumstances you may want to do the opposite of what I'm going to do. For me however, I'm happy with the balance of my crypto portfolio. I have clear price points I want to buy and sell at for each coin. For me to start selling other cryptocurrencies to buy bitcoin would be greedy.
What has really changed?
Also, I don't know what is going to happen after the hardfork. The Bitcoin Cash hardfork doesn't change Bitcoin's fundamentals and its Segwit path. The hardfork does not change the fundamentals of the other coins I hold.
So, I'll continue to execute my strategy based on my goals. If I pick up some free Bitcoin Cash. Great. I'll treat it like a perk of holding bitcoin and fold Bitcoin Cash into my portfolio. Just like I treated Byteball.
Also I won't be spooked by or get carried with any short term price volatility this week. I remember what happened with the Ethereum/ Ethereum Classic hardfork. Ethereum went sub $10. Now it's over $200, looking 'cheap' relative to it's recent high of $400.
Walking my road
I guess my take home today is to stick to my path until something major happens to force a reassessment. Everything else is just noise.