The Bitcoin Gold fork just happened and already we have to prepare for the Segwit2x fork on 11/16. However, this fork is fraught with more uncertainty. The Bitcoin Gold team never set out to be the “real” Bitcoin. They just wanted to go out and make another version of Bitcoin so there was no threat to the real Bitcoin. The outcome of the Segwit2x fork will need to determine which fork is thought of as the real Bitcoin. This means a lot of posturing, politics, and fighting among miners and developers.

So how do you make money, or at least preserve your money while all of this happens? First off, like other forks, you will need to be storing your Bitcoin on a wallet or an exchange that officially states you will receive both coins after the fork. Next, do not trust the date given for the fork. The fork is set for a certain block number, the date is just an estimate and some exchanges will be doing a snapshot before that. So make sure your Bitcoin is where it needs to be at least 24 hours before that block happens if you want both coins. To see the current block, Google “bitcoin block explorer” and you have a choice of sites to visit to see the current block. During the Gold fork a lot of people missed out because the actual fork happened two days before the stated time.

Next, how will this effect the price leading into the fork. Since each fork has a chance of becoming the real Bitcoin, I can only assume most people are going to be holding their Bitcoin tight as we get close to the fork. Also, the alternate fork may prove to be more valuable than Bitcoin Cash at first, so this is going to once again lead to people wanting free coins they think will be worth something on the exchanges for quick profits. Based on this, expect a run in BTC leading up to the fork similar to before the Gold fork.

Based on this, after this week, I am bearish on the alt markets as a whole. Money will be flowing into BTC just as it has for all the other forks, so we have history on this and there is not much to argue here. Alt coins will not be bullish until at least 11/17. I know many of you do not want to hear this, but this is what the market does.

What’s the market strategy? If you believe in alt coins more than BTC, start looking for the alt coins you want to get into or add positions to and start looking at the prices, and where you want to buy in when they start to dip. Because they will start to dip. This is only if you expect larger returns in the alt coins over just holding BTC.

As for my personal opinion. I will only be looking to swing trade a few alt coins leading up to the fork. A few days before the fork I will be pretty much 100% into Bitcoin awaiting the fork. Once again, this is my personal strategy, and not financial advice of any kind.