Bitcoin Forum

Yes, Segwit2x was canceled. Still, the price of BTC holds up and the alts bumped and now down again.
Do you think BTC price will keep going up still?

The first wave affected both bitcoin and other coins positively. Yet, we don't know what's gonna happen tomorrow. The market is in an uncertainity. We should be ready for the fluctuations which will happen within this week, until the end of the weekend. It's 12 November.

The whole market reacted strange today, it went up by a lot of money, but it is now going down, it is very strange because we dont even know what is going to happen by tomorrow, but nobody can predict what is really going to happen soon.
But all those who invested on bitcoins or in altcoins before the fork, they are still holding those funds, and this is why the price is still at that price, because it is impossible to see it droping if the holders doesnt dump their coins,  it is simple as that.

It's always problematic to speculate what will happen in the short term, like in the next few days or even few weeks.  But one thing we do have to go on is past performance, and that certainly indicates that despite the regular challenges and hand-wringing over various scenarios, the trend is solidly up over a longer term.

I've read an article days ago that some miners are withdrawing their support for the SegWit2x hardfork. This may be the reason for that. SegWit2x hardfork lacks support and consensus. How can it proceed when they lack support, right? So they cancelled it since it will be a chaos if they continue.

The price is exceptionally surprising, though. When Bitcoin declined earlier, around $500, I thought it will continue lower than 7,000 but it held up. It seems people are happy holding at the moment.

I read a lot of fear around the new forking, and BTC RIP logos all over the internet.

Now the fear is gone and I think I am happy for this result as most of us here.

Only those bet big on bt2 will not be happy.

However, I wonder how long the altercoin booming could last.

I don't think the price increase in the past few days had anything to do with the fork that was going to happen with the Segwit2x plan.
Well at least this is my own opinion. And I base it on the amount of attention that was given into it before it happened.

It was already less than a week left until the fork was supposed to happen but you couldn't find really enough people who were asking about it. I'm comparing it to the previous BTG fork (which we still have no idea if it's ever gonna go live but it doesn't matter since it's a big joke/scam anyway).

There was actually a lot of people who were planning to sell just before the segwit fork happens as they were afraid that the price drops by a lot. Since it got cancelled and the price is already going pretty solid, there's nothing that makes them sell.

In fact, people the altcoin market is starting to get back into the game as well which I actually have no reason for and can't justify. How is it that there are no major sales of btc BUT growth in altcoins ? New entrance ? I have no idea.

 

It is exactly same as what happend after Bitcoin Cash fork. After people got their free Bitcoin Cash. I personally expected the bitcoin price to fall. It didn'g happend and the situation seems to be the same although there was no free coins this time.

I believe the market continued an upward trend before it was announced that the fork would not be happening due to lack of agreement. It was at that point that people realized that they weren't really going to get anything out of the situation and tried to get the most out of their situation. Since bitcoin was in a bubble, I suppose that they thought if they sold right away, they could make some slight profits, which some probably ended up doing. As of now, it's likely that people are more at losses than anything else.

Well basing from the events, we are not 24 hours away from the Segwit 2X cancellation, therefore we cannot speculate it, But I think it will pump and eventually it will dump. Investors are now in heaven because of the new highs of Bitcoin, If Bitcoin will possibly breach the $8000 mark, then Investors will eventually cash out causing into a Price dip and that will be a chain of action, a sudden dip will usually cause a FUD which make a lot of investors cash out their Bitcoin.

i think if segwit2x is cancel then the price will be increase without any problem and of course some of altcoin will be down again and even will be down for deeply. but i still hope that altcoin will still survive because of bitcoin price is increase and only stay in bottom price for a while and waiting a moment to gets increase. i think we need to waiting what will happen in november 12-13 and after that the chance for bitcoin price to increase is more widely.

SOURCE?!

What does it mean that it was canceled? It was canceled for good? Or was it just postponed? What is the reasson?  :o

I honestly don't see why it would go down, the fork cancellation is fantastic news. If people were buying bitcoin just to sell the 2x coin after the fork, they are up right now. Basically everyone in the game is up right now, and more good news keeps rolling. Of course, I have no idea honestly, but I suspect a $10k Bitcoin on major exchanges or LocalBitcoins in United States by Dec 25.

One of the leaders of the Segwit2x project wrote this:

"Unfortunately, it is clear that we have not built sufficient consensus for a clean block size upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x."

Source: https://www.coindesk.com/2x-called-off-bitcoin-hard-fork-suspended-lack-consensus/

I'm surprised though the segwit2x suspended, i'm sure it will affect the bitcoin price and the price start going down right now.

Segwit2x cancelled but a lot of people are still believing with the bitcoin futures trade. That will be so dificult to the price of bitcoin to get another down since the more company in the wallstreet try to consider about the bitcoin as the potential business for them all. CME was seeing it and the more company will be following it.

It "didn't happen" because the pump for 15 Nov was still pumping. The pump has now stopped.

Perhaps the buying was not directly Segwit-2x related. We humans tend to attach much more weight to our own perceptions of reality that warranted. If price remains stable right after cancellation (or call it: postponement because the underlying problem of scalability has not been solved), good for us.

It is sure strange on what is happening with the price right now and Yesterday we had seen that the price peak to an enormous amount of $7700 then went down again, after the cancellation of the Hard Fork there are many people that doesn't know what to do right now and having doubts that bitcoin may go on a turmoil, many people doesn't expect that to happen and that Pump is so sudden many doesn't catch the wave on getting it.

I think that the price of bitcoin is nothing compared to the problem bitcoin is not solved. If the issue prices of small transactions will be resolved we will be able to use bitcoins to trade in goods. It can stimulate the development of bitcoin and increase the price of the coin is much more than the fork all together. Sometimes you need something to sacrifice to achieve victory in the future.

keep going up?
yes it will but before that we should see another correction in upcoming days before stabilizing ourself.
why we need to see it ? because the price is pumping a bit hard due to hardfork that we will face(but now it's suspended),
some people tried to maximize their profit by pumping it,and then when the storm come the price will sink to the bottom.
many people pros and cons about the hardfork,and because of that bitcoin price will be affected due to two sided supporter.
and i believe it'll not bring any good for Bitcoin in the future because,
but right now hardfork suspended and of course they will try to exit their position,
why ? because the storm will not happen this year and of course they need to make something to trigger the holders and maximize the profit.
it's very predictable in my opinion,we should see the decline this month and then another movement next month

The lack of support from the miners might be the reason for the cancelation of segwit2x which has been scheduled long back. Right now the price has got withhold, which means that the impact of the cancelation hasn't affected the growth. Situations might change further while getting close to the days scheduled.

It is so early to conclude for now because postponement was just declared yesterday in which many are still dont know about the declaration but i noticed that altcoins price value are now slowly increasing but we dont know if this change is related to the cancellation of Segwit2X lets just wait more and see.

You're just pointing at the fact that the fees are still too high when it comes to lower valued transactions, but that's something even the larger block fork wouldn't solve. Blocks being a certain size doesn't necessarily mean that the miners will include all transactions just to fill up their block, it doesn't work like that. If your aim is to see Bitcoin be an ultimate tool for micro transactions, you'll need to have more patience. Lightning Network will take some time before it will be something the general public gets to use. How much time is impossible to say for an outstander, so you'll just need patience (i.e wait it out).

The market is getting better but the price remains volatile for a lot of reasons. The pricing has been unexpected ever since its release. The price might hold at some point and eventually be corrected. $8000 by December? No one really knows for sure.

I think we do need cheaper and faster transactions, but the NYA was not the way to go about it.  If segwit2x had happened and become the dominant bitcoin fork, we would have had those things, but I think we would have paid a huge price in terms of trust in the crypto.  If a segment of the community can come along and usurp bitcoin once--implementing their own changes without broad consensus--what's to stop them from doing it again in the future?  These changes might have been very good in the short term, but the precedent would have been bad.

Cancelation of segwit2x are bad news from my point of view.  :-[

We need lower fees, quicker transactions. Once that happen, there will be more uses for BTC and it will have bigger chance to became popular.

well the thing is investors will feel more comfartable without the fork scheduling to happen obviously since there is still this sort of view that bitcoin is as a whole community and not divided into two distinct factions.

Therefore, price will get pumped hard because of this.

I would assume that price will reach $10k this year probably and next year, potentially 12k. But after that once the fork is all happened and done, the price could potentially adjust.

Obviously it will be facilitation to the market and to the whole community but if it happens like this then most probably the whales will not be happy with it. They want the community to live in a chaos so that they could have the best hold of the bitcoin. If things get to be going smooth then there will be no panic and no panic will refer to a zero panic selling like as it happened in the last fork a few weeks ago. This smooth situation is not the target of the stake holders. In such a situation the price will be in a continuous upwards position on the graph which will definitely reduce the profit margin of the whales which are none others then the so called stake holders of the bitcoin. They are a small group of a few people but dominant on hundreds and thousands of common people of the bitcoin community. They will never want a common person to have a profit like them, therefore; they do the tricks which are kept out of the reach of a common user while they loot the people’s money.