Why Bitcoin Is Stronger Buy After 2X Fork Suspension

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Bitcoin 2X hard fork has been suspended indefinitely. As a result, Bitcoin spiked initially (and has since corrected quite a bit). This might seem odd given the overall notion of the market was that Bitcoin 2X is “free money.” Why would price rise when there is no more free money?

Recall that Bitcoin has price memory and that it is affected by incremental news. While on the surface this may seem like bad news for Bitcoin, it removes a substantial amount of instability in the overall network. There was a lot of uncertainty surrounding the 2X Hardfork:

1) Which will be the “real” Bitcoin?
2) How would the network handle replay attacks?
3) How would the network handle a schism of hashing power (miners) and the developers (Core)?
4) How many users would use each forked cryptocurrency?
5) What would the exchanges call “Bitcoin”?
6) What would Wall Street call “Bitcoin”?
7) What would investors bid up?

All of these uncertainties were just removed from Bitcoin. In the short-term, that results in a huge spike in price. Remember that increased risk and uncertainty, by nature, must reduce the price of any given asset. However, Bitcoin may still not be near “fair value” (whatever that is). Regardless, from a trading perspective, it is overdue for a 15% dip and I’d like to see it go down to at least ,500 before buying.

I continue to hold altcoins (especially Ethereum) and am looking to buy into Bitcoin if we see a nice dip now that the uncertainty around 2X is gone. Dollar cost averaging is the way to go if you are too emotional to handle the impacts of lump sum investing.

As usual, I’m always happy to hear your thoughts on the subject. Please leave them in the comments – Even when I don’t respond, I read nearly all comments and it gives me more to address in future videos. Thank you for watching!

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My Recommended Hardware Wallets:

If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously – look it up and you’ll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline):

Ledger Nano S:
Trezor:
Ledger Blue (expensive):

I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn’t matter which one you go with. Ledger Blue is premium and convenient, but not necessary.
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My Favorite Book for Investing in Crypto:

Cryptoassets:

This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn’t bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest.

It’s a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc).
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My Recommended Exchanges: Coinbase / GDAX / Bittrex

Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex.
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None of what I provide in my videos is investment advice. Please do your own due diligence.
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from
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