Anybody remember how the price of BTC was affected subsequent to the last fork? Any opinions as to the price impact of the Nov 16 event?
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Without checking a chart, it had been near 3000 but ended up around 2500 at the time of the fork and then dropped to high 1800's in the next couple of days. It soon bounced back and surpassed 2500 again..Comment -
BTC was about 2860 just before the fork, then fell to about 2700 for the next few days, then began a parabolic spike to a then-ATH of 4400 two weeks later.Originally posted by Roscoe_Word
BCH, the fork coin, spiked immediately in its first 24 hours, hitting 1200 on some exchanges, before slowly settling down to about 400, then spiked again in late August to 900-ish, then settled slowly down to 300-ish until its recent spike to 650.
But that fork can't be relied on as a model for what might happen this time. Last time, tons of money sat on the sidelines because they were afraid of replay attacks, a form of hack previous hf's had been vulnerable to. As soon as it was clear the fork was safe, all that money came piling back in.
This time nobody's afraid of replay problems, so that huge pile of money's already in the game.Comment -
Opti and MP, thanks for the input. Should be interesting.Comment -
So am I save if my BTC is sitting in blockchain? Or should I move it to bitpay or Heritage sports? What will happen if I leave it in blockchain or any wallets?Comment -
If it's sitting in the Blockchain app, you're fine in that you won't lose out on the coins being issued at the fork. However, you're still subject to any potential price volatility, depending how the fork goes.Originally posted by kaliboyzComment -
Small percent volatility? Like $5-$10?Originally posted by mrpapageorgioComment -
If you search other threads where Meanpeoplesuck has posted, he has explained what the price has done traditionally after a fork. Usually drops a bit, followed by a rebound.Originally posted by kaliboyzComment -
Well, so much for the Segwit Fork. By the by, Can BTC be traded between cryptos (ether-litecoin) at the Coinbase exchange? I couldn't see it, although it's probably right in front of me. I tried exchanging BTC to Litecoin expecting a drop due to the now abandoned fork. Litecoin can be bought via the bank or debit card method, but I couldn't figure how to exchange within the exchange? Haven't been to Kraken in a while, but I'm thinking this can be accomplished there. Is my novice approach missing something?Comment -
None of that is correct. It was 2800 before the fork, 2700 after and then went to 4500 in the next few weeks.Originally posted by OptionalComment -
Originally posted by bitcoinLukeI'm sure that's why he stipulated"without checking a chart". The price went down after the fork, then went up appreciably as he said.Comment -
You can exchange between BTC/LTC/and ETH through their investor platform GDAX. Just use the same credentials as you use for Coinbase and if your coins are stored with CB, you can transfer them from Coinbase instantly.Originally posted by Roscoe_WordComment -
Sorry if it wasn't perfectly accurate. But think what I said is closer to reality that what you claim.Originally posted by bitcoinLuke
Rates definitely moved more than $100 from before to after the fork. Were you watching it at the time or are you just checking a chart now?
I promise you it was more volatile than a $100 swing in reality.
You'd do better to go back to threads here at the time and look at what people posted about price movements real time. A smoothed/consolidated market avg chart may not be showing reality very well.
Posters reported being able to buy at under $2000 at some exchanges around the fork..Comment -
Great. Thanks for that lead!Originally posted by mrpapageorgioComment -
Segwit2x hard fork of the Nov 16 was abandoned.Originally posted by Roscoe_Word
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Yep, we'll have to wait till next time. Although BTC slumping a little recently, what a boon it has been. Some financial type sites are predicting a decline, but I don't think so. The term "bubble" was even used.Originally posted by WinproComment -
It's going to be in correction mode for the short term since people will sell off to get back into the other crypto coins along with the newbies who jumped in during the hype and are rushing to get back now now that they aren't going to make a quick buck. It'll likely go into the $5k range and it wouldn't shock me it it goes into the high $4s before leveling off and rebounding.Originally posted by Roscoe_WordComment -
Wait, Bitcoin is a bubble?Originally posted by Roscoe_Word
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Maybe thats reason why price is going down last 2 days.Originally posted by WinproComment -
Originally posted by mrpapageorgio
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Mr. PG: OK if I ask a newcomer (to GDAX) question?Originally posted by mrpapageorgio
I transferred some funds from Coinbase to GDAX.
I'm interested in how one converts BTC to LTC. (just as an example)
Does one have to "sell" BTC to USD first, then "buy" LTC with USD?
Thank you.Comment -
On the top left of the page you should see BTC/USD telling you that you're converting between Bitcoin and USD. Click on it and a drop down should appear. Towards the bottom you should see a category for Litecoin and the second from the bottom should be LTC/BTC which allows you to convert Bitcoin to Litecoin. It will then give you the price of Litecoin in Bitcoin rather than USD, which should be about the same. When you're buying you're converting from Bitcoin to Litecoin, and when you're selling, you're converting Litecoin to Bitcoin.Originally posted by Roscoe_Word
You can also interchange Bitcoin for ETH on GDAX, but it looks like you can't for LTC/ETH so you'd have to first convert Litecoin or ETH into USD or Bitcoin before exchanging for the other.Comment -
Will give this a go. Thanks much for the help.Originally posted by mrpapageorgioComment -
Great instructions. Worked like a charm. Thanks again!Originally posted by mrpapageorgioComment
