As everyone has probably already heard, the SegWit2x is cancelled. After such controversy surrounding the way it was done, it seems as if Bitcoin is going to stay the same for the time being. While Bitcoin is down in early trading on the day after the announcement, so are other Bitcoin tied cryptos. BitcoinCash seems to be resilient. Does the botched attempt at trying to make blocks bigger make investors want to leave Bitcoin for newer blockchain technology?
Looking for insight for a news article I am writing for The Wall Street Bitcoin Exchange. If you haven't heard about the SegWit2x cancellation yet, we recommend you check out our article at:
http://www.wallstreetbitcoinexchange.com/segwit2x_cancelled_by_bitcoin_news_headlines.html before voting. We look to do a more in depth piece based on feedback from our social media channels. Thanks in advance for the responses.
Yes, probably that is the reason for bitcoin price to go down to this current level. I had expected more dip, around at $6800 level, but I am glad that didn't happen. This is only a slight dip and will be recovered soon. A lot of investors worldwide started stacking up bitcoins in the hope of getting free segwit2x coins. When it was called of yesterday, I expected a lot of such investors will pull out their funds. But there is a second story that supported the bitcoin price to stay at this level.
CME group is a well known name is derivatives market. So once they will actually enter the market, bitcoin will take another step to become main stream. It will promote the bitcoin to the mass as well as a lot of real world white money investment will flow into it. That is the reason the market is still surviving with a big hope. I don't think the market price of bitcoin will go any further down. It is just accumulating strength to take the next leap.