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RE: What to expect from Bitcoin in the very near term

in #bitcoin7 years ago (edited)

I think we probably will have a bit of a correction for the entire market, if crypto keeps chugging like it always has after that (no reason to think it wont) we will move up again. Im basing this on the similarities to the 2013 bubble. However to be honest we never really know what could send the market into panic or into a buying frenzy, so I wouldnt bet on that being a sure thing.

A bit Unrelated but I would express caution to many buying Ethereum if there is a market correction. Many of the companies that raised via ICOs are still holding the ETH and although many promised they wont dump it on the market, if we see a 50% correction they might liquidate it as fast as they can. They are now setting their budgets and they are relying on having that money for the future. They need an operating budget so most of the ICOs wont hold long term.

The biggest obstacle bitcoin has to overcome at the moment will be watching how a UASF either fails or succeeds come August 1st. This pressure might trigger a fork, then all bets are off, we dont know what will happen. I dont see segwit2x happening or any consensus being met. Miners could push through Segwit2x, but the hardfork part of the agreement will most likely never happen.

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