[2017-11-09]Bitcoin Price Looks Like a Rollercoaster: SegWit2x Fork Has Been Can

[coolcoinz]

Just like a rollercoaster, get ready and brace yourself because bitcoin is going to rush below next week. I'm too tired seeing a lot of forks and it's time for altcoins to shine again.

There hasn't been a fork for months and it seems that no fork is coming. Also, the selling pressure is not big enough. You can see the uncertainty in the market by looking at the charts. People don't know what to do because of that fork cancellation. I've always said that bad news are better than uncertainty because you get hit and get over it.

[MoonJeina]

Yes  i agree that bitcoin value is like a roller coaster right now . Earlier it was speculated that due go the fork , bitcoin will fall . And after the cancellation of the fork people said that bitcoin will go to $10k but something totally unexpected happenned and now bitcoin is falling again . From $7.5 k it has come to almost $6k . So nothing is clear what is actually happening , bitcoin is really a roller coaster right now.

[greeklogos]

The price is 6400$ right now and it is big drop. Looks like a lot of people were disappointed about the fork's cancelling But I think we can expect a new fork in the future, people who are interested in that will find a way to make it happen

[J. Cooper]

Yet another low effort article with an exaggerated and mostly sensational title. Bitcoin is well known for its still very volatile environment, and this has been so for years. A $1000 drop after a $4000 dollar bull run is not more than healthy for the market. It's also silly to only mention a single catalyst that may have caused this rather big correction because I think there are plenty more. Anyhow many alts are floorishing again after 2-3 consecutive red months so that's certainly a bonus for anyone who's into alts.

[Snub]

For me it's only a nice time to buy some cheap BTC, so that all situation gives me some profit

[Agostosmori]

SegWit fork has been cancelled. How will it influence BTC price?

In the evening on Wednesday, November 8, Mike Belshe, chief executive of bitcoin wallet service BitGo and project lead for SegWit2x, announced the cancellation of the hard fork due to a lack of consensus in the community. The official announcement was published on Twitter on the SegWit2x page.

Shortly afterwards, the BTC price reached its new all-time high of $7,899. However, within an even shorter period, it had rocketed down to $6,977. Now that’s a rollercoaster. Someone too sensitive might go grey from it.

It will somehow affect the price of BTC since there are people who converted their altcoins to BTC because of the segwit2x fork that was just cancelled. But since it was cancelled then those people are now converting their BTC back to other alt coin that is why as of now the price of BTC is around $6200.

[TheKeyLongThumbI]

This is a scary drop because bitcoin's value is now $5,600. A week has not passed since Segwit2x got cancelled but it already lost $2k in value. I am thinking that what if there are still some people unaware of what happened? Maybe this will still go below $4700-$5000.

[veleten]

This is a scary drop because bitcoin's value is now $5,600. A week has not passed since Segwit2x got cancelled but it already lost $2k in value. I am thinking that what if there are still some people unaware of what happened? Maybe this will still go below $4700-$5000.

rollercoaster indeed ,the low of 5600$ followed by a rise to 6300$ and all this after the peak of 7900$
crazy things,but this is only due to people selling to buy BCH and releasing their liquidity to trade since there is no fork in the upcoming future
i.e. no reason to keep your money tied up
one thing I know for sure- predicting bitcoin price is almost impossible,it has no clear connection to the events
and all of the explanations are made post factum,if you read the analytics a week before,every single one predicted a rise
but nobody predicted the subsequent fall to 5600 or so

[Vladdirescu87]

Market experts anticipate the fall continuing to about $5,000, then turning into steady increase. Michael Morton, the founder of Morton Bitcoin Management, a niche IT investment firm that specializes in Bitcoin investing and startups using blockchain technologies, and GNEISS, a universal Ethereum peer-to-peer smart contract asset exchange, stated to Coinidol:

“I strongly support the decision to cancel the Segwit2x Fork. Any blockchain that tries to fork bitcoin I see as an attack on the original network. There is only one bitcoin. I would expect a short term retrace to around $5,000. Followed by the long term bitcoin bull market to end up above $10,000 by the end of the year”.

https://coinidol.com/bitcoin-price-downfall-from-all-time-heights/

[veleten]

Market experts anticipate the fall continuing to about $5,000, then turning into steady increase. Michael Morton, the founder of Morton Bitcoin Management, a niche IT investment firm that specializes in Bitcoin investing and startups using blockchain technologies, and GNEISS, a universal Ethereum peer-to-peer smart contract asset exchange, stated to Coinidol:

“I strongly support the decision to cancel the Segwit2x Fork. Any blockchain that tries to fork bitcoin I see as an attack on the original network. There is only one bitcoin. I would expect a short term retrace to around $5,000. Followed by the long term bitcoin bull market to end up above $10,000 by the end of the year”.

https://coinidol.com/bitcoin-price-downfall-from-all-time-heights/

sounds like a plan but nothing will stop it falling lower than 5000$
or suddenly climbing back to 7000$ in a couple of days
just check the insane volumes at Bitrex or any other big exchange-they trade 5-10 times the usual volumes these days
means that there are either many small players or a few whales moving the market in a certain direction