Everyone was hyped about Segwit2x and bought tons of coins to make sure that they'd receive their S2X coins after the fork concludes and sell it after. The hype from the cancelled fork somewhat formed a small bubble which pushed the price to $7700+, but shortly after it was announced, the bubble popped and lo, we drove back down to $7200.
It's not as if the drop was the end of bitcoin, it's just a small correction happening after people bought loads of bitcoin due to the assumption that they'd make a quick buck on S2X. More and more people are getting into bitcoins lately. Watch out for insane price increases.
Topic: Is Bitcoin Down Because of SegWit2x or Bubble? - page 2. (Read 564 times)
If this is "down"...what will be the word if it is falling at $4000?
...where it should be.
...where it should be.
Segwit2x news will definately have an effect on the early bubble,would not be surprise if the price falls the more in the coming weeks
It's not so down, just a little correction. But it's still over 7k. Also consider many altcoins are on the rise from yesterday, so many people are buying altcoins instead of BTC these days...
It's not that significantly down, but I'd say it was largely due to a bubble which was amplified by SegWit2x.
The incorrect notion that people could just get "free money", sell it and suddenly see an increase in their portfolio was irresistible to a lot of participants in the current bubble, because they're very new to investing (as are most people who take part in bubbles this deep in).
Perhaps stagnating hype may have an adverse effect on price over the coming weeks, but for now the fall hasn't been as significant as I was expecting.
The incorrect notion that people could just get "free money", sell it and suddenly see an increase in their portfolio was irresistible to a lot of participants in the current bubble, because they're very new to investing (as are most people who take part in bubbles this deep in).
Perhaps stagnating hype may have an adverse effect on price over the coming weeks, but for now the fall hasn't been as significant as I was expecting.
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.
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.
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