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No Matter Bitcoin Hardfork or Softfork, Prices Have Already Adjusted

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No Matter Bitcoin Hardfork or Softfork, Prices Have Already Adjusted

Introduction

This article was posted on Thursday, 19:03, UTC.

I believe digital currencies incorporate future events in the same way stocks do, the release of earnings or the introduction of a new product will be reflected in pricing in many stocks 90 to 180 days before earnings are released or a new product generates sales, and the share price will reflect future events. Digital currencies are doing the same thing here anticipating chaos in front of the August 1 decision about a bitcoin hard or soft fork.  The recent sell-off in nearly all DC’s have priced in the results of the August events in advance, and I think prices have already endured the worst and should stabilize after some initial Aug 1 (day of) volatility.  I think the fork is already priced into the market.

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The hardfork/softfork issue is attempting to resolve normal growth issues related to slow trade rates.  The only way for this particular problem to be solved is by increasing the dimensions of their present blockchain. Doing this requires modification of this code. This is the point where the Bitcoin fork comes into play.

I want to stay away from describing the debate between developers, in my mind the result of the hard or softfork will be reflected in pricing, and the adoption rate, and I believe nothing can really stop the juggernaut we know as the current digital currency movement, all growing emerging markets experience execution issues, and this is not unique to digital currency. Commodity markets operated in trading pits using “open outcry” before adopting technology fully.  So this is an expected blip, and there will be more.  markets climb the wall of worry, and digital currency volatility is a reflection of uncertainty.

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Steve Kanaval

Steve Kanaval

Steve began his career at the Chicago Mercantile Exchange in 1980 and ran Morgan Stanley Derivative Prop Trading for the firm. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90's. Steve is known as an expert in trading stocks and digital currency and has published thousands of articles and archived video with important market participants related to US Equities, private shares, and crypto currency. He offers a humorous, unique insight related to volatile stocks and the related back stories and drivers. He is a featured speaker on the conference circuit specializing in market volatility, liquidity and emerging market assets.

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