What effect does August 1st have to the rest crypto currencies?

Bitcoin Questions and AnswersWhat effect does August 1st have to the rest crypto currencies?

George asked 1 year ago

What effect does the Bitcoin possible split at August 1st have to the rest of the crypto currencies? Will there be a dramatic fall to their prices or a rise? In addition, will the changes to Bitcoin have effects to the way we trade with the rest of the crypto currencies?

1 Answers
Zsofia Elek answered 1 year ago

Hi George, We recently composed an article about the upcoming events around August 1st and the possible fork. Prices of altcoins often move together with the Bitcoin prices, so if you are experiencing volatility on the Bitcoin market it will probably have a similar movement on the altcoins as well. There will be no effect on the way you are trading with other cryptocurrencies as they are based on different blockchains. 

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