Day 12: Update on Bitcoin and Ethereum (July 20)

rainelemental (46)in #bitcoin • 7 years ago (edited)

This last week has been quite exciting and interesting for both Bitcoin and Ethereum.

July 19th, the Ethereum Alliance added 34 new organizations including Visa and Cisco, this pushed the price to $260, which probably triggered a margin call which created a sell, more similar to a flash crash, to $180.
Screen Shot 2017-07-20 at 11.29.30 PM.png

Bitcoin after reaching a low of $1800 on the 16th of July, it slowly climbed to $2200 following the optimism for the activation of BIP91, which got locked on July 20th, with a spike of $500 from $2200 to $2700, in just a few hours.

Screen Shot 2017-07-20 at 11.31.53 PM.png

So what should we expect next? As I mentioned in one of my previous posts, I believe that we'll keep seeing some volatility these days, probably with a small or big correction, before August 1st. So now the important thing to keep an eye on, is BIP 148 (Segwit2x), which at the moment report to be at 90.3%, but we'll need that number to go as high as 95%, in order to avoid Bitcoin to fork. You can check the current state here of Segwit2x in this link: https://coin.dance/blocks#proposals

Once again the best safest strategy during this movement is to HODL and be patient. Remember to invest only what you can afford to lose.

Happy trading and hope you're enjoying to see Bitcoin growing as much as I do: cheers.
https://twitter.com/feulf/status/888244530666983424

This post is part of the Writer challenge: 30 articles in 30 days.