What Could Be In Store For Bitcoin In The Next Few Months
Well I thought I had it right last week but like I tell everyone you can never predict the market and those who try are just full of fluff. However I still like to talk about it and try to at least keep educated on matters to see what markets are acting how they are. Stocks are a bit easier however when it comes to cryptocurrency its rather rough!
Over the next few months we are headed into some rather uncertain times where everyone needs to be on the ball or it could fall through and split bitcoin. I still have a strong feeling a split could happen no matter how much anyone wants to talk it up. However in this post i am going to go over reasons why investors seem to be coming back to bitcoin and will continue to for the next few months.
1 - Increase Recognition
Bitcoin is a name everyone knows by now while they might not understand it they at least have an idea of what it is. This is what makes bitcoin so strong and where 90% of investors will first enter the crypto currency market. Also bitcoin is what gets all the media attention and what everyone can relate to this will always hold it in high value.
2 - Safe
Bitcoin is what I would consider the safe cryptocurrency why? Because every other currency can be traded for it. You don't see to many if any other crypto currencies that can be traded for other alts this also increases the rareness of bitcoin.
3 - Lower Fees
Fees have actually been going down lately which is a nice change. They are still rather expensive in terms of how they use to be and low fees was the major driving factor to bitcoin. We are going to have to see how Bitcoin is going to combat this in the next few months.
4 - SegWit or Segregated Witness
Seems like this is going to be activated, it is not written in stone yet however this seems to be the path we are going and possibility of it still hard forking is possible.
I agree a potential fork is still a big worry, however bitcoin is still THE main Crypto.
Anyone outside of crypto will have only heard of bitcoin (and possibly ethereum).
It has first mover advantage. Anyone in the real world who accepts crypto accepts bitcoin, not one of the 900 alts.
If you trade alts, you need to do so through bitcoin. To buy in, most exchanges only accept bitcoin and you have to exchange bitcoin for fiat. Additionally, most pairs are for alt/ btc not alt/alt2 (although some exchanges are listing alt/ETH now.
bitcoin is the safest as it has been around the longest, come the furthest and grown the most. The majority of alts are clones with very little history or time in development to iron out bugs. bitcoin has had nearly 10 years to do so!
Lets hope the next few months go smoothly and all will be good (for now).
Good points and I also hope they are able to increase the block size and get transactions moving faster on bitcoin. If they can manage that without a split then bitcoin is seriously going to moon.
Which puts me in a battle with myself buy a shit ton now and hope for the best or maybe reserve myself into some alts till this all smooths out and perhaps regret it if it moons lol the struggles are real.
The other issue that if bitcoin rockets, the alts will probably do so as well (from past experience). If bitcoin tanks, so will the alts. I think you need to be in bitcoin (primarily) and if you don't trust it, out into fiat. I see the alts moving with bitcoin currently and I don't see that changing in the near future, until more mainstream adoption and the recognition that there is a difference between them. This will also need most alts (without a valid use case) to die off. Not a popular statement I know, but 900 instruments with no real life application outside of speculation is too many!
I'm expecting that Ethereum takes off as a result of the uncertainty.
everybody thinks exactly the same. so as a group think, eth will skyrocket around the end of july and the first week of august
That's why I'm holding on to my money and not investing in Bitcoin just yet
Yeah i'm still rather iffy on it because of everything that could still happen. What I have i will hold on to and if it moons well then I guess good i have some. If it crashes oh well I have others. If bitcoin goes down I have a feeling the rest of the market will come crumbling down as well.
I expect there will be some who transfer their bitcoin into something else and ride out the fork before moving their money back in. Alternately there are bound to be some who are getting as much bitcoin before the fork in the hopes of benefiting from a possible split. Might just even out.
the founder of crypto cant be change father for all crypto will be there forever because no body own the bitcoin and they cant shutdown
Well the floodgates might just open. To the moon.
I would not complain ;)
@bitcoinflood I am keenly looking forward to the low fees part of all the changes. Simply because that also directly affects the overall cost of acquiring bitcoin itself.
Yup the last few transactions I did where rather expensive as there where small amounts I still had a pay a large satoshi fee which makes smaller transactions blah
There is a talk that two to three months after Segwit2x we'll have the hard fork. Around 1st of November.
Yup exactly which has me question why its mooning lately other then people want to lock in some profits before that happens. If 100% are not on board then its going to split and with bitcoin it should be decentralized thus pretty sure your never going to get 100% and its going to end up splitting. However the split coin might just die if its just 2%-5% of the mining.
The fees! I really wish the fees were lower with bitcoin. There are some good projects out there with very low to 0 fees.
The ones without any fees are ones where they are earning more coins by sitting on coins POS or there is no limit to the coins. A zero fee system would never work in the long run. But they are working on the fees issue for bitcoin its just a long slow process since there is no central owner.
True talk, me too, so which one is safer