Bitcoin Forum

July 20 was an exciting day for bitcoin proponents as markets suddenly switched from a bear crawl to a full fledged bull charge. The price spike resulted with a high of US$2930 per BTC across many global exchanges, showing a huge price difference between the recent low into the $1850s last week.


Bitcoin markets had a spectacular day on July 20 as the decentralized currency came real close to reaching $3K per BTC. At the time of writing, the price was hovering around $2750-2770. The digital currency has been experiencing a recent break-out since reaching a low of $1850 per BTC on July 16. The initial drop was attributed to fear and uncertainty concerning a possible bitcoin split on August 1. Now speculators are crediting the recent jump in price to the BIP91 lock-in and the possibility of Segregated Witness (Segwit) activation. Trade volume has increased over the past three days as bitcoin markets are now seeing 24-hour trade volumes cross over $2 billion. Moreover, bitcoin’s market capitalization dominance against altcoin markets has risen to 48 percent.

https://news.bitcoin.com/markets-update-bitcoin-bulls-are-back-with-vigorous-energy/

We will definitely touch $3000 soon. It was really an exciting day waking up seeing the price of bitcoin almost touch $3000 and no one would have expected that bitcoin can go from ~$1900-~$2900 in just matter of hours. The BIP91 news was the prime mover of this and once it is sure for activation $3000 will be reach and I think a new ATH will be reach. Those investor who are just waiting around that corner will get their hands dirty again and dig deeper on their wallets to get bitcoin as fast as they can.

If for whatever reason BIP91 fails there is likely going to be a huge correction. There is shorting to be done for this exact reason as quite a few people are likely betting on this very event.