Segwit means Segregated Witness, a means to increase the block size of Bitcoin from 1 MB to 2 MB. In simple words, it will increase the transaction speed of Bitcoin which is a concern for past few weeks.
Now the crux of the matter is that Segwit is about to be installed in Bitcoin Protocols till the end of July and there are mixed response by miners for it's acceptance in Bitcoin platform. If Segwit gets approval then It will increase Bitcoin pricing very much in coming months but if not, the price of Bitcoin may fall down severely.
So, that's they hype. People are selling hugely in fear of losing more on later date. That's why market is crashing for a few days.
I hope you did understand this whole concept . @sjennon
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but BTC is holding quite well... i would think it should be they other way around?!
Yes, It can be other way around. That's why I call it a hype. Wise investors are investing right now and the fearful are selling their shares. I just hope price will rise to the moon and it will for sure.
Thank you for your explanation. It makes a lot of sense now.
BTC is pretty huge so I think it should turn around eventually. The people buying in now are maybe more at risk, but are also the people who carry BTC out of the slums.