So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?
I honestly didn't think btg would move the price of btc at all.
A lot of people seem to expect that bitcoin gold will cause the price of BTC to fall, simply because people are holding BTC to get free BTC gold. Once they've got it they'll move their money away from bitcoin.
Most likely this the scenario that we are seeing right now. Yobit announcement earlier giving free bitcoin gold push the price to ATH, and it looks like they are selling bitcoin gold now and taking it somewhere else, either cashing it out or going back to altcoin market. But I don't think that they are going to altcoin becaus they are still bleeding. I suspected that most of them are just holding bitcoin gold now and not yet dumping it. I'll expecting that bitcoin will recover again tomorrow at $6000 or above once more.