Quote from: Sithara007 on June 16, 2017, 11:34:55 AM

Quote from: deisik on June 16, 2017, 05:11:01 AM

And you won't be alone

In fact, people are already selling their coins. It seems like the price rebounded somewhat during the last hours (from below 2,100 dollars to over 2,300 dollars per coin at Bitfinex), but this price rise is not sustainable (read the market is thin). People who sold on the way down are not buying back. It is clearly seen by the US dollar loan rates that dropped dramatically today and the spike in the amounts offered. This pretty much means that people are cashing out and parking their wealth in dollars

And why they want to park their wealth in Dollars? Why can't they do the same with other altcoins such as Ethereum and Ripple? After all, whatever happens in August will be limited to Bitcoin only. It is not going to directly affect the other crypto-currencies

Maybe, because Bitcoin going down makes other coins go down too?

This is what I see, and I don't think up anything, so it is not some obscure and unsubstantiated theory. I don't know about Ethereum, but, for example, Litecoin follows Bitcoin price very tightly (apart from rare flash crashes and rallies on its own). Bitcoin is still the leading cryptocurrency, and if it crashes other currencies are going to crash too. Thus the US dollar seems to be a sort of safe haven for cryptotraders, and I agree with them