There is going to be a bitcoin Hard Fork (splitting of bitcoin blockchain) on 25th October, 2017, which will give birth to Bitcoin Gold. People made a lot of profit during the last fork to Bitcoin Cash, because after a fork all Bitcoin holders received an equal amount of the new currency (Bitcoin Cash). This is going to repeat again with Bitcoin Gold. If you watch the cryptocurrency charts, you’d see that bitcoin has recently been going up seriously (just as it did before the Bitcoin Cash Fork). Now the question is why?
The thing is, once the Bitcoin Fork occurs, holders of Bitcoin would receive an equal amount of Bitcoin Gold which they can trade for Bitcoin, or keep. You might still be wondering where I’m getting with all of this.
Now take a look at the bitcoin chart:
- A lot of investors started buying Bitcoin from the 17th of July, 2017 in preparation for the Bitcoin Cash Hard Fork which was to take place on the 1st of August, 2017.
- After the last Bitcoin Fork in 1st August, 2017 (which created Bitcoin Cash), holders of Bitcoin received equal amounts of Bitcoin Cash of which majority exchanged for Bitcoin, thereby skyrocketing the value of Bitcoin from $2,600 to $4,900 between 1st August and 1st September, 2017.
- 22nd September marked the beginning of a new upward spike of bitcoin as investors start buying up bitcoin again in preparation of the next Bitcoin Hard fork due to take place on 25th October, 2017. This would give them an equal amount of Bitcoin Gold after the fork.
So, there are two serious gains here for anyone holding bitcoin before the fork:
- You get an equal amount of Bitcoin Gold after the fork has taken place, which you can sell to increase the amount of Bitcoin you have.
- As Bitcoin Gold holders exchange their Bitcoin Gold for Bitcoins, we should see Bitcoin value getting up to $10,000 per Bitcoin by December 2017.