[2017-11-09]Bitcoin Price Looks Like a Rollercoaster: SegWit2x Fork Has Been Can - page 2.

Ankhesenamun

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Quote from: Lieldoryn on November 10, 2017, 06:49:39 AM

Quote from: Aragorn_125 on November 10, 2017, 06:21:26 AM

I can not understand SegWit2x is canceled or rescheduled? Why did the miners do this? After all, so many people believed that there would be a split

SegWit2x postponed for an indefinite period. This battle was won by the miners. We will continue to pay high rates for confirmation of the transaction and the timing of the confirmation will increase as the growing popularity of bitcoin. Unless of course the growing popularity of is. In such circumstances, trade is not beneficial to use bitcoins. For this reason we do not see growth in popularity. We see the capital increase, but the extension of applications of the bitcoin no.

It turns out that the fact of SegWit2x abolition will negatively affect bitcoin? We could get a reduction in tariffs and increase the speed of transaction confirmation. But now we will again wait for the solution of the problem

Lieldoryn

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Quote from: Aragorn_125 on November 10, 2017, 06:21:26 AM

I can not understand SegWit2x is canceled or rescheduled? Why did the miners do this? After all, so many people believed that there would be a split

SegWit2x postponed for an indefinite period. This battle was won by the miners. We will continue to pay high rates for confirmation of the transaction and the timing of the confirmation will increase as the growing popularity of bitcoin. Unless of course the growing popularity of is. In such circumstances, trade is not beneficial to use bitcoins. For this reason we do not see growth in popularity. We see the capital increase, but the extension of applications of the bitcoin no.

Aragorn_125

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I can not understand SegWit2x is canceled or rescheduled? Why did the miners do this? After all, so many people believed that there would be a split

hatshepsut93

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Quote from: alizay on November 09, 2017, 06:15:59 PM

Since the announcement of the cancellation ppl are using their bitcoins to buy altcoins, that's why the price decreased (and not plummeted, it is still 7138$ right now). Look at the long run. I still believe bitcoin is the safest crypto to invest in though the cancellation of the fork will definitely benefit the altcoins in the short term

This is wrong, price of altcoins has no direct impact on Bitcoin's price. During this spring we had a huge altcoin rally which led to many of them increasing in their price more than 10 times and Bitcoin's marketshare dropped to historical low of 35%. By your logic Bitcoin's USD value should have crashed, but in fact it was the opposite - it was growing in $2,000 zone.
Bitcoin's price decreased mostly because the market operates on a "buy the rumors, sell the news" principle. Some traders knew that SegWit2x will be cancelled before it was announced, so they were the ones to likely sell to grab their profit before others can. And keep in mind that Bitcoin is so close to ATH, that any small drops can be viewed as natural volatility.

honeyb0y

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Of course price will keep on changing, what do you expect for something that rely on the
demand for it's prices. But even though the segwit2x was already canned price still remains
above $7000, that only means that there was really an increase on the demand aside from the upcoming fork.

alizay

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Since the announcement of the cancellation ppl are using their bitcoins to buy altcoins, that's why the price decreased (and not plummeted, it is still 7138$ right now). Look at the long run. I still believe bitcoin is the safest crypto to invest in though the cancellation of the fork will definitely benefit the altcoins in the short term

Embeco

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Not a rollercoster, but I think this time it was very hard to see where this is going. Segwit2x had lots of support in the beginnen, then failed to deliver to the expectations. Cancelling the fork may have gone both ways: Drop in price since people expected free money from the fork or increase because people are reassured regarding the security of Bitcoin...

buwaytress

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Quote from: richardsNY on November 09, 2017, 02:21:09 PM

Rollercoaster? No need to exaggerate things. If we look at the movements in terms of percentages, it was like 10% at worst, and that for a very brief moment. I am however more or less surprised that the market remained above the $7000 level, while the fork was quite an important event, and also the disappointment of people that were already counting profits. After all, it might be that this fork wasn't at all the reason for the market to go up to such levels, even though it was a major source of incentive for people to buy.

Any headline will do this time, but yeah after seeing even 25% in a day, 10% bursts really don't cut it as rollercoaster rides anymore. I'm also really, really, surprised at the price and can only wonder if perhaps the s2x supporters had already booked in profits. What really took me by surprise was the seemingly blanket effect on alts. I'm seeing still 20-30% increases well past 24 hours after the news broke and Bitcoin bounced. I have a feeling the real surprise is still in store. Isn't December traditionally the lull before a crypto event brewing in January?

richardsNY

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Rollercoaster? No need to exaggerate things. If we look at the movements in terms of percentages, it was like 10% at worst, and that for a very brief moment. I am however more or less surprised that the market remained above the $7000 level, while the fork was quite an important event, and also the disappointment of people that were already counting profits. After all, it might be that this fork wasn't at all the reason for the market to go up to such levels, even though it was a major source of incentive for people to buy.

Vladdirescu87

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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.

https://coinidol.com/bitcoin-price-looks-like-rollercoaster-segwit2x-fork-cancelled/

Topic: [2017-11-09]Bitcoin Price Looks Like a Rollercoaster: SegWit2x Fork Has Been Can - page 2. (Read 6287 times)