The likelihood of Bitcoin and ETH rising to historic levels in 2017 is very high.
What market factors would support this prediction?
The only way we are going to get here is if things go smoothly from now until then and this means:
1.) Favorable news / regulatory environments
The news cycle greatly affects the volatility of the cryptocurrency market. So which will it be Mass Media?
Will we publish articles in the mainstream news with a sentiment like this?
or this?
2.) Smooth Bitcoin Transition to Segwit 2x
According to Bloomberg on August 1st 2017 :
UASF will be deployed by its supporters, who begin checking if bitcoin transactions are compliant with SegWit.If a majority of miners still do not deploy SegWit2x or otherwise accept SegWit, and if UASF supporters do not back down, then two versions of bitcoin’s blockchain could come into existence: a UASF-backed one where only SegWit transactions are recognized, and another where all trades -- SegWit and non-SegWit -- are recognized.
If a split occurs, bitcoin will likely begin existing on both blockchains in parallel, resulting in two versions of the cryptocurrency. Expect traders to quickly re-price the value of both, likely leading to massive volatility.
Here are some technical details about what is happening behind the scenes with Bitcoin in the coming months:
https://medium.com/@jimmysong/segwit2x-what-you-need-to-know-about-the-2mb-hard-fork-27749e1544ce
Final Thoughts
This are the major factors that will dedcide the outcome of not only Bitcoin but the rest of the altcoin market including STEEM, SBD, BTS and all other cryptocurrencies. If everything goes smoothly expect the market to explode upwards in August and continue the trend through the rest of the year and into the foreseeable future. May the best blockchain win!
Please leave your thoughts and comments below about what you think will happen in the coming months.
Sources:
Bloomberg
Medium
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Bull market back in august.
Everyone's ready for it! Bears are boring...
Agree
massive volatility in what direction?
One up and one down? I think a fork is bad news even if its out of necessity. I've read that Satoshi (if he even exists) never wanted Bitcoin's original code tampered with.
That's interesting... but how not to tamper.. he quit the Bitcoin original team at 2015 (If I'm not wrong).
I believe it is only upward from here; even if there is a dip to $1400 again I think Bitcoin will be at $5000 by Christmas and Eth will reach $400 for sure; ETH is rebounding this morning after David Seaman's video last night lol.
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