I don't think bitcoin will go much higher for awhile after this fork.
There really isn't much incentive for people to buy more of it after the fork short term. What is the thing that will escalate bitcoin into being worth more? More adoption hasn't really happened in many years and that is still slowly chugging along. If anything, the price should go down because the only real thing driving bitcoin price up lately is FOMO(fear of missing out) so a lot of new money is being thrown at it.
That money is going to vanish after this fork because the price will drop as the coins battle eachother for hash power.
That's a bizarre opinion. Price has been rising rapidly all year. What does that have to do with the fork? Institutional investors are about to start getting in, which means the money that has been put in so far is gonna look tiny compared to whats coming. Yes absolutely the incentive is FOMO because more and more people are getting that this is a rocketship that is only just taking off, not sure why you think people will just decide they don't want to be on board for the ride.
Bitcoin went to all time highs and crashed before due to MTGOX and it took a long time to get back to where it is now in terms of price.
Institutional investors "are about to start getting in" has been said for years, there are more than enough people "in bitcoin" right now.
The price of things don't continually go up for no reason, the forks don't really add anything of value beyond splitting coins at this point. We see how many transactions happen and 1MB and 2MB will handle it and have handled it for years already(at 1MB). So technically, while it may be nice to have segwit reduce size and add in 2MB blocks to handle more transactions, the transactions that are being upgraded for having more capacity are not in the short term. They are to take place for a few years from now.
I wouldn't call it a bizzare opinion, I have already lived through this exact scenario multiple times of "price is rising buy time and hold". Sure the price will go up years from now and be a lot higher... In the short term it shouldn't as the demand isn't that to use Bitcoin for Bitcoin purposes, the demand is high right now because of splitting coins and getting free money from Segwit2x coins, a big difference.
hmm, where to begin...
Bitcoin went to all time higher before Mt.Gox crash and then took long time to recover...yes. so, whats your point?? That doesn't have anything to do with what is happening now. No idea why you brought that up unless you are predicting the hack of several of the biggest exchanges and the loss of hundreds of millions of dollars is about to occur again. That's quite the prediction hahaha.
Institutional investors...maybe you haven't seen the news about the two largest options exchanges in the world setting up bitcoin futures in the next few months. When I said they are about to start getting in I meant it. They are actually about to start getting in! This ain't talk, it is starting in the next two months with the CME and within a couple months later with the CBOE.
And there are more than enough people in bitcoin already? uhh what?? In 1995 were you saying there are more than enough people using the internet? In 2005 were you saying there are more than enough people using Facebook? Sounds like for some bizarre reason you just don't want anyone else to use bitcoin, that's literally the only way your prediction of a long term downtrend could happen.
Why are you stuck on this idea that bitcoin has only been rising because of the fork?? As I said, it's been going up at a rapid rate all year, only the past couple weeks has been because of the fork, and only partially because of the fork, it's also because CME announced bitcoin futures starting this year. You really don't understand why people are investing in bitcoin? Why are you even on this forum if you don't understand that? Bitcoin's long term rising price has nothing to do with forks.
Not sure why you are talking about block size, we're talking about price rise. You seem to be stuck on the forks. Anyways, its completely off topic but you seem to be suggesting that bitcoin doesn't need scaling? You do realize the blocks had been full for months leading up to segwit right? And since segwit has only a small adoption right now the blocks are still pretty full. More scaling will be desperately needed in the near future. But again, don't know why you even wrote a paragraph about this it is off topic.
Of course you wouldn't call it a bizarre opinion, it's your opinion! But that doesn't mean it isn't. Really, multiple times you've lived through this scenario you predict where the price will fall for years and then finally come back up? Cuz it's only happened once in the history of bitcoin. So I know that's a lie. And that once was because of Mt.Gox. Though you are apparently predicting another Mt.Gox. So your prediction seems to be based on you predicting hacks of the largest exchanges about to occur on the level of Mt.Gox, plus you just not thinking anyone else should be allowed to buy bitcoin.
So your prediction is not based in reality and is just your strange desire to not have anyone else be able to buy bitcoin. Well, you are gonna be quite surprised I guess when lots and lots of new people keep buying bitcoin!
