Is this that ackward moment in which people that were praying for a dip a few hours ago are now too scared to rebuy?
BIP 141 (Segregated Witness) activation is scheduled to take place in: 1175 Blocks (8.15 days)
Hi bitserve,
Do you think the price will go up after activation in just over a week? I mean surely it's priced in as it's a guarantee now. Seems strange it going up at that moment when everyone knows about it.
Also I know btc is it's own beast but didn't litecoin drop after activation and then increase in price later?
Love to know everyone's thoughts here.
The only reference I can use is Litecoin. It kept pumping until just after activation. Then a mild drop that took some days(?) to recover.
At the moment, Bitcoin is doing exactly the same. So it should keep rising until activation. I wouldn't be surprised if it breaks 5K during last days/hours before activation.
Of course, both are not the same. Litecoin didn't need Segwit as much as Bitcoin does, because it had no capacity problem... but Segwit is much more than that though.
There have been some interesting advances in Segwit wallets and even in Lighting Network. I think it will be those advances what will propel Bitcoin to new heights, but not sure if it will be right after activation or a few months later.
Also, Segwit "capacity increase" will become more noticeable as soon as more people and services start using segwit tx's, something that will come gradually over the next few months.
In conclusion, I don't fucking know.... But I think the scenario is very bullish and that, even if it dips now, it should keep rising later.
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