A few weeks ago, I have published an article on how to deal with Bitcoin Gold as an investor (https://steemit.com/cryptocurrency/@bluephoenix/bitcoin-gold-and-how-to-deal-with-it-as-investors). Turns out it happened earlier than I expected but the pattern was the same!
The Past
To sum up, here is what happened:
- All alts "bleed" from around 10th Oct until 23th Oct
- In the meantime, BTC rallied hard from 4000$ to 6000$ in just 2 weeks
- On the forked day (24th Oct), MOST alts pumped immediately from 15 - 50% while BTC dropped right after block 491 407.
The Present
Information on Segwit2x in layman's term: https://cointelegraph.com/news/bitcoins-upcoming-segwit2x-hard-fork-put-in-laymans-terms
Right now, at the time writing this article, seems like all alts are starting to "bleed" again. Same pattern, same "syndrome", around 2 - 3 weeks before the hardfork... BTC will rally again and this time, it might jump to 10k$!
The Future
Segwit2x countdown: https://bashco.github.io/2x_Countdown/
So what should we do? You can read my previous article mentioned above for 3 main strategies. But this time, it will be a little bit different:
Not sure about everyone but most of my alts are reaching critical milestones in November and December. For example, LISK is going to reduce block rewards on 17th Nov -20% and meetup last year on 22th Nov. At the same time, OMG is going to roll out its own blockchain in Q4 (probably unsure date but soon!), XZC is going to announce Znodes in 2 weeks, Stratis is launching Breeze Nodes next week... and so on.. ===> it means that DUMPING ALL YOUR ALTS AND JUMP TO BTC IS QUITE A RISKY MOVE NOW especially if your alts have some crucial milestones in November
If you have made some profits in jumping alts during the Bitcoin Gold fork and don't care about the alts, it is better to dump them now before alts crash to a lower price. Since seg2x is bigger than BTG (more "mainstream", higher impact and more political debates...), I expect alts will bleed more than last time.
For those who still have fiat, this would be our last sales before X-mas. In the future, I believe it will hardly be any case in such large scale like this with determined date. It will be some instant shock like the China ICO ban or JP Morgans...etc but those are all unexpected and unpredictable. This segwit2x is something we knew long before it would happen.
So to sum up, be patience, trust your self, don't FUD and don't FOMO. Stick to the plan!