Since the beginning of the year, we've seen an influx of new investors attracted by the rise in cryptocurrencies. They saw the 1000% profits and all wanted a piece. Although now, it's a different story. With the fast approaching Segwit2x and the possible hardfork coming in August, everyone is scared. All of the new investors are confused as to why Bitcoin is dropping so much because they don't understand the technology and are selling because of it. This "panic selling" is part of the reason we've seen Bitcoin (and all other alt coins) drop. In addition to this, other investors are scared because of the uncertainty surrounding the August 1st date, and what will happen afterwards.

August 1st

As mentioned in my previous blog post, I expected Bitcoin to reach $1800 because of all the uncertainty surrounding the hard fork . The hard fork that happens on August 1st will have a big impact on the future of Bitcoin. We'll see it either split into two different coins, or up to four. This means that if you're holding Bitcoin during the time of this split, you will get an equal amount of each Bitcoin. Afterwards, we'll see one Bitcoin that rises above the rest, and THAT will be the one that people invest in, and it will rally like we've never seen before.

What To Do From Here?

With all of the market volatility happening, along with the uncertainty, I recommend holding cash until we reach a bottom. That's not to say don't buy anything as we're dropping (I recommend "nibbling" at these low prices), but hold the bulk of your investment until we get closer to the August 1st date. I believe we'll still see a decline in Bitcoin in the next coming days (below $1800, possibly $1500-$1600). I've already spent $500 buying alt coins (XRP mainly, but LTC, DASH, and ETH are also good investments), but will wait to spend the remaining portion until we approach the end of July (July 25th, 26th), and save a little for after August, in case it dips more.

This is a time when everyone is scared because they don't understand that the market goes in cycles and we were heading for a correction anyway (Segwit2x only added to that drop). I am more excited than anything because this means I can pick up cheap coins and will reap 100%+ profits in a couple of months. So don't panic, and continue buying a little as we drop down. If you are holding coins that you purchased at high prices, just keep holding them. We will have a price correction as we approach August, and soon afterwards, because all of the uncertainty will be gone.