[2017-07-17] Bitcoin Price: Is the Storm Over?

[Vladdirescu87]

The Bitcoin trading market has been panicky shivering this last week. The Bitcoin price has dropped sharply from $2,500 last week to $1,850 on Sunday, July 16. However, on Monday, July 17, Bitcoin’s price recovered a little and holds on at a level around $2,000.

The Cryptocurrency community is expecting the decision on Bitcoin’s Segregated Witness on July 29. The vote on SegWit2x will begin on July 21 and if the number of votes for it reaches 80%, SegWit2x will be activated. Experts say that this should help to avoid Bitcoin’s chain-split on August 1, when the launch of BIP148 is scheduled. However, if the majority of Bitcoin miners does not signal support for SegWit through BIP148 on August 1st, but at least some do, Bitcoin’s blockchain will split in two, and we will see two types of Bitcoin tokens.

Read the full article: https://coinidol.com/bitcoin-price-is-the-storm-over/

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[iamTom123]

Of course, the storm is not yet over. We will continue to experience the same turbulence as we are heading towards that ultimate date. However, we are also seeing some resistance in the $2,000 level yesterday so there is a possibility that a yo-yo can occur in the vicinity of $1800 - $2,000 maybe for this week. next week can be a different week as it would be the last week before the possibility of a split can happen (some are saying that it is becoming remote though).

I am sure that yesterday some bought back their Bitcoin for some possible profit taking either today or tomorrow. The market is really behaving so volatile these days and though Bitcoin has not been normal actually this is quite magnified due to the fear and apprehension many Bitcoin holders are experiencing. Negative and half-baked news are not helping to calm the market.

As for me, I am just having a wait and see attitude as there is nothing I can do for now to help Bitcoin get back what it already lost. All of us are already looking forward to move from this whole "messy" thing.