As the price of BTC is increasing on an upward trend and falls only by few bucks, short-term Alternative Coin traders are crying blood. I believe it is due to the upcoming fork. How many more forks are we expecting in the future? It seems that through forks they are pumping the price of btc and once the price becomes stagnant they will start another fork.
the upcoming forks are
** the Bitcoin Gold fork
which most people don't even know about to want to do anything about it. but there has been some small effects on the price. obviously some people know and buy because of it but I'd say it is about 10% of the reason why the current rise happened.
** the SegWit2x fork
that one actually is not going to be happy rise at all. I even expect fall because of it but it has not yet started because there is some time left before people start spreading their FUD about it. let 10 more days come and go and I am sure the FUD campaign will start all over the media and price can fall because of it.
now that the first part meaning the bitcoin gold fork has happened (at least the distribution inside exchanges has happened and people buying bitcoin no longer receive the BTG airdrop) we can see that the drop caused by this fork was a little less than 10%, which means I was kind of correct when 10 days ago I said about 10% of that rally was because of BTG.
now we have to wait for the S2X thing to start. things are already changing about it too. with exchanges like Coinbase releasing a "different" type of announcement and generally things like that. now lets see if there is any panic going to start or not. so far there is none.