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Author Topic: why BTC price could still hold after the Segwit2x cancellation?  (Read 750 times)
MaggieDeng
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November 08, 2017, 10:59:24 PM
 #1

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?
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November 08, 2017, 11:05:52 PM
 #2

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.

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November 08, 2017, 11:20:52 PM
 #3

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.

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November 08, 2017, 11:30:30 PM
 #4

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.
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November 08, 2017, 11:31:32 PM
 #5

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?

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.

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November 08, 2017, 11:35:19 PM
 #6

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.

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November 08, 2017, 11:35:50 PM
 #7

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.

 


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November 09, 2017, 12:20:32 AM
 #8

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.

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November 09, 2017, 12:24:03 AM
 #9

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.


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.

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November 09, 2017, 12:59:55 AM
 #10

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.

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November 09, 2017, 01:04:37 AM
 #11

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.


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November 09, 2017, 01:14:09 AM
 #12

SOURCE?!

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

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November 09, 2017, 01:16:56 AM
 #13

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.
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November 09, 2017, 01:43:20 AM
 #14

SOURCE?!

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

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.

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November 09, 2017, 04:19:09 AM
 #15

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?
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.

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November 09, 2017, 07:07:42 AM
 #16

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.
It "didn't happen" because the pump for 15 Nov was still pumping. The pump has now stopped.
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November 09, 2017, 07:29:15 AM
 #17

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.

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teilwalL05
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November 09, 2017, 10:41:40 AM
 #18

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 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.



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T
....ANGEL TOKEN....


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sindikat
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November 09, 2017, 11:25:36 AM
 #19

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.
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.

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November 09, 2017, 11:35:12 AM
 #20

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

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