Good day Steemians!

The network fork everyone has dreaded is scheduled for today, meaning that the hard fork will deliver a new digital asset called Bitcoin Cash ($BCC). So, if you are a  holder of Bitcoin in a cold wallet (or certain exchanges), this means that you will receive the exact same amount of $BCC token in relation to your $BTC holdings.

Traders on a few exchanges like Kraken and Bittrex  will receive $BCC (which value is approximately one-tenth of that of Bitcoin), if the 'Trex $BTC chart is anything to go by, one could surmise that market psychology is on the greedy side as the price has had a steady increase since Sunday (as it seems everyone is pretty keen in obtaining their free tokens), shown here:

https://bittrexblobstorage.blob.core.windows.net/public/4082f357-33c6-4a99-b126-6edba46d6af8.png


Traders on a exchanges like  BitMEX, Bitstamp and Coinbase will not  receive $BCC as they are not supporting the blockchain split and as such deem $BCC, (or Bitcoin Carbon Copy, as we like to call it) not worthy. In relation to all the politics with mining pools etc, we tend to agree. 

What it comes down to is that Bitcoin remains Bitcoin, it remains a trustless asset - meaning no one party can control it - which is not the case the fiat currencies around the globe that are manipulated by inflation by the crooked powers that be. It is still however risky to keep your Bitcoin on an exchange during a chain split, so your risk management in this regard is of utmost importance, so please take note of that. 

Herewith a statement from Bittrex:

"If you have a Bitcoin (BTC) balance on Bittrex during the BCC UAHF time on August 1st, 5:20am PT (12:20pm UTC), you will be additionally credited the equivalent amount of Bitcoin Cash (BCC) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BCC.  BTC held on orders will also be credited.  Only the BTC held on your account is eligible for BCC."

A more detailed link to their site:

https://support.bittrex.com/hc/en-us/articles/115000808991-Statement-on-Bitcoin-Cash-BCC-

Our guess is that $BCC will get dumped immediately and that it will gradually fade away in time as just another Altcoin that didn't make the cut, whilst $BTC charges ahead with Segwit User Activated Soft Fork Nodes activated. Herewith a general idea of the forks in the road, courtesy of adesblog.com: 

![](https://steemitimages.com/DQmYkq6Ekm9FwWZMRm3rugTF6hG6gKfwkhJq2kk6gutEPMA/image.png)

As far as the result of this chain split is concerned, expect a lot of volatility. Altcoin prices are currently on the decrease as it seems everyone is getting back into $BTC. Once the chain split engages and everyone sells off $BCC, expect a massive pump in the Altcoin space. 

$BTC price, as according to our research on the Wyckoff cycle, may well vary in-range between $2000-$2800, though we do have orders across the board ranging from $1300 upwards in case of a massive downward spike - the perils of crypto trading decadence, right?

Herewith our guess as to the current Wyckoff cycle we are in with the $BTC price (currently mid-range through phase B, accumilative):  
 
![](https://steemitimages.com/DQme4g3kUvorUChitW79ihR1YpawD8KhgK4Qq1Ksvbt1sQJ/image.png)

An absolutely disastrous scenario would be the following (courtesy of STIA on tradingview):

![](https://steemitimages.com/DQmPSk9SvTvTFSpp6EQngDbuPEdYAr3GUcTP2mNbvaFn3b9/image.png)


We are seeing quite a lot of the Altcoins in this specific scenario (DGB, ETH, XDN, BITB etc), which is representative of fear/capitulation in terms of market psychology. rest assured, we expect a few massive spikes, so keep an eye on your assets, do not be hesitant to take profits, hedge into Gold on vaultoro.com with your $BTC or hedge into $USDT on your exchange, set your buy orders nice and low for $BTC as we just might have another FUD scenario circa 8-10th of August. 

Have fun trading, stay safe, be blessed and remember those stop losses!

Rgds,
EscapeVelocityOrdinance

Ps. Here are some REALLY noteworthy newscasts that took place recently, courtesy of SGT Report & The Dollar Vigilante, respectively:

https://youtu.be/qnFr1ttmFKI

https://youtu.be/SaOijhjdDSE

Lastly, there is something way cooler than Ethereum on the horizon called $EOS (Thank you, Misters Berwick & Larimer!):

https://youtu.be/S1saIWZjTho