The sellers have made a mistake


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After what has happened yesterday, i.e. the statement from 20+ exchanges and the subsequent bitcoin price drop, some people have made a mistake. Reading the news about the statement, they thought that a BU hard fork must now be imminent. Fearing the uncertainty of a hostile hard fork, they sold their bitcoins.

But they have misinterpreted the news, which were badly presented by the always clueless journalists. The BU hard fork is now farther away than ever. In fact, barring some catastrophic developer error, there will never be any hostile hard fork any more for bitcoin.

Why is that so? First of all, the exchanges have signalled that they would support both branches of a hard fork, so there is no fear that they might quickly kill one side.

But the other now obvious fact is that many people are very fearful of a hard fork. If a vague hint at a future hard fork crashes the bitcoin price down 30%, what would a serious threat of a hostile hard fork in the near future do? It might well destroy bitcoin for good. The time for hostile hard forks is over.

And this is why the sellers will soon recognize their mistake and buy again. They will see that yesterday's news was not bad, but good news for bitcoin.

submitted by /u/hgmichna
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247 BTC

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


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