Cancellation of Segwit2x and it's effect on BTC value

[k@suy]

To be honest, I do feel scalability is a problem that BTC has to solve before it can go higher from $7K.
Hence I think we are entering a phase where it will consolidate around recent highs.

WELL, something that we are in correction right now plus the drama that adds to the bitcoin dump. I know, this will recover very soon and will conquer another highs. This already happened before, and will happen again. Just get a popcorn and enjoy watching the show 

[PokerFace3]

So i just read that the controversial segwit2x upgrade was just cancelled.
Reference link: https://www.coindesk.com/2x-called-off-bitcoin-hard-fork-suspended-lack-consensus/

I'm curious to hear what people here think of this and it's effect on bitcoin price.
Is it time to go back to altcoins maybe? Or will this solidfy bitcoin position?

There would be a little bit of correction now that the coast is very clear and then after that the value will keep rising and the same cycle over again. The pumps are already getting pumped and that is really not affecting the value of BTC much as we still have it around $6600 - $6300 right now, but I guess time will tell at the long run if we will hit below the present support or if we will start seeing another ATH.

[kimochidesh]

BTC should rise in long-term...A temporary fall has seen coz many investors who were there to take advantage of free segwit2x, after hard fork cancellation new, they have exited the market. Some influential investors bought BCH in large quantity that created a FOMO and Exciting buying started. But again BTC come back in form and created a new price record in just 72 hours.
I see BTC at 20K by the end of 2018.

[babsjoe]

Segwit 2x is done and dusted! Everone know that it's s bump in development history. I do not support because we can find other way around to find solution we want! Bitcoin value as far as I am concern has noymt been found yet, we are still on the road to discovery

[davinchi]

Very unprofessional advice:

My guess would be that bitcoin's price will dip a bit. Probably just as low as 5%-10% as I think that a lot of people will go full FOMO because of altcoins currently skyrocketing in price. Also, knowing that most people realize that they aren't getting any free forked bitcoin as s2x has been canceled.

Man… I believe you’ve got a point here. Bitcoin price will dip, and that’s very true, probably that people will start to withdraw and Investment on altcoins will grow.

All this while, people has been withdrawing their money from altcoins and Investing on Bitcoin all due to the hard fork that was to take place on 16th this month, and through out then, price rate for altcoins kept on decreasing. But after the announcement, I noticed some.slight increase in the price for Altcoins while bitcoin dipped small.