Bitcoin being dumped post-BTG-checkpoint. Altcoins soar as expected.

Bitcoin being dumped post-BTG-checkpoint. Altcoins soar as expected.

The self-fulfilling and fully predictable prophecy has just been realized: BTC is getting dumped like there is no tomorrow – in favor of most altcoins (except KICK?). In-house favorite coin Cardano seen gaining 6% over BTC, despite the dollar losses (due to BTC’s great dump).

Everyone who held BTC up’until block 491407 when the snapshot was made is now the proud owner of the exact same BTC amount in BTG. (The main, if not only, reason for the recent spike in BTC prices.)

Unless something truly amazing comes out of China this week, the tendency is for a slight correction in BTC prices to continue, after soaring over 50% in just a few weeks, mostly in anticipation for the Gold fork.

tl;dr; The Gold rush is over.

Now the world holds its breath for the first BTG block to be mined by the GPU powers that be. Word on the street says electricity bills will be reaching the moon before cryptos do in the short term.

 - On October 24, 2017