Bitcoin has corrected post Bitcoin Gold, but not significantly. I suspected for a sharper correction. My bet, which has lower conviction than my bet pre-fork, is that Bitcoin will continue lower to the $5000 range while altcoins recover. Once hype for 2X hard fork comes back in next week to 2 weeks, Bitcoin will likely begin to recover as the cycle repeats itself.
The main question with the 2X hard fork is how the market will treat it – more free money? Or will they be weary following the Bitcoin Gold results? I’m not certain, and hence I’m still attempting to solidify my views on the market. These are my best bets right now. Take them with a grain of salt as always, and let me know your thoughts.
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