So next week is the next fork in the bitcoin network. If I understood correctly there will be a split (just like bitcoin cash?) to enable bigger packet size with lower fees and faster transfers?
What can we expect? will the the bitcoin drop in proce, will it crash or will it just keep rising?
This is all to technical for me and I’m a database administrator with 30+ years of experience in IT.
Can you imagine how hard all this bitcoin stuff is for non-technical people?
I think we can all agree that getting into the bitcoin is far to complicated for the layman at this moment. Im in for just over 2 months now and even for me it is tricky sometimes.
This however can be a good thing. Can you imagine what the bitcoin would do when all people are able to get in easy? The demand will rise and the price will sore!
I’m planning to buy some more but I think it would be safe to wait after the 16th of November.
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Yesterday, the Bitcoin network experienced one of the most serious hiccups that we have seen in the past four years.. so bit afraid
Do tell. What happened?
Am a day trader. since bitcoin price is fluctuating a lot, all my altcoins lost a lot of values. that's why am thinking to stay away from trading till segwit2x fork
What I have seen so far is that the price can fluctuate between 100 to 300 dollars up pr down on a daily basis, however the line is still going up in the bigger picture. Do you expect the bitcoin price to be more stable after the segwit2x fork?
because people are confused right now weather bitcoin price goes up or not after the segwit2x fork. They want to keep their bitcoin handy in case of fall. If bitcoin price goes up sharply they sell their altcoins and wait for btc to reach higher high so that they can sell them. other way if btc price falls a couple of 100$ they get panic and think btc already reached higher high & sell their altcoins & keep bitcoin ready to sell expecting it to go down further. In both the case most of the altcoins drop significantly. So its very risky to trade in such situation.
I think this is the reason lot of altcoin have lost 20% - 30% or even more in btc value since few days.
I see I will wait with investing till after every has settled down. The bulk of my bitcoins is for long term a part I will use for currency trading. I do have some eth too.
You said it! I've been in crypto since about July and I still consider myself pretty new. One of these days mass adoption will happen, but the barrier to entry is going to have to be massively reduced. Good stuff.
Correct! I would say sit tight , the sky will be the limit.
Have a look at the chart, i am expecting it to flow in this pattern, price may go down till $6K ($6.3k - $6.5k is a good buy too).
Thx I will keep that in mind. What is that big dip between sep/oct?
That big dip is due to Big news like china put ban on ICO's and Some negative Statements from JP morgan CEO , all these added together and panicked people. But bitcoin Recovered instantly as if it never went down..
But i suspect , some big guess wanted to buy bitcoin at really cheaper price, so played some tricks to bring the price lower...
This happened after the Bitcoin Cash fork, But to be realistic price went even higher after the fork, from about $3000 to nearly $5000, the dip had nothing to do with the fork.
I think even after segwit2x, price will go even higher, as people get free segwit2x coins , they sell them and rush to buy more bitcoins. this may drive price even higher..
img credz: pixabay.com
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To me the forks are getting to be like "crying wolf".
It seems every week we hear of another fork.....I am rather ho hum about it.
BTG was suppose to take BTC out and it only went higher. BTC will crash after the next fork? Not likely. There might be a pullback but these forks are only making BTC more desirable. The forks seem like spoiled children who just didnt get their way.