Topic: [2017-11-12]Bitcoin Price: the Downfall From All-Time Heights. Bitcoin Cash Rise (Read 1989 times)

It was very much expected that bitcoin will fall , because from few days it was hiking too much . The S2X fork made the news and people were quite worried about it , but they should be happy that it is not happening anymore . Moreover , bitcoin getting a downfall would not be a big issue if S2X was happening . About  bitcoin cash raising high , this is obvious if bitcoin will fall people are going to invest in other alt coin for time being .
 But bitcoin will rise again very soon.                                                                                                                           

Segwit2x being cancelled was quite a surprise, especially for those who were desperately looking forward to cash out their split coins. The market going down was no surprise at all. S2X being cancelled made people sell their coins, and if the fork would have kicked in, afterwards people would have sold their coins too, so there is no real difference in this regard. The only difference, which happens to be a major one, is that S2X being cancelled, is a victory for everyone involved in Bitcoin. S2X was nothing more than a cash grab move, which potentially could cause severe damage to everything related to Bitcoin. Instead of people being disappointed in not getting any "free money", they should be happy that there is no S2X.

It seems to me that dropping to $ 5000 will not. Bitcoin will bottom out from a position of $ 6,000. I think that $ 10,000 we will not see, but 8000 dollars is easy. Those who bet on the bch once again will regret what is questioned in bitcoins. I do think that if you don't believe in bitcoin it makes no sense to invest. You will always be nervous and it will bring you pleasure.

The week appeared to be quite unexpected for Bitcoin community, namely because of the cancellation of SegWit fork. Despite the controversial attitude toward it within the community and the obvious lack of support, no one could anticipate it would be cancelled at the last moment.

At the beginning of the week the price of Bitcoin resembled a rollercoaster, it reached another all-time heights of $7,800, and then dropped to $7,300. The second half of the week showed steady downfall to its present value of $6,553.62. More than a thousand dollars away in a couple of days. It might seem a tragedy for those who bought at $7,300.

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/