Technical analysis Bitcoin BTC/USD - 02.07.2017
Over the past week the bitcoin price has not changed significantly. In our opinion, this is due to the waiting for the decision on the Segregated Witness (SegWit) implementation. The current bitcoin fluctuation problems, caused by popularity growth, have led to serious queues. Barry Silbert proposed a solution to this problem by implementing Segregated Witness and increasing the size of the block from 1MB to 2MB. In order for SegWit to be introduced, this solution must be accepted by 95% of the network by August 1 this year. Below market scenarios from past week that are still valid.
Thanks for the perspective. I definitely think that the pending upgrade is creating uncertainty. I had just posted my perspective on the recent slide that you might find interesting.
If you can, let me know what you think.
https://steemit.com/cryptocurrency/@johnpm75/my-theory-as-to-why-crytpto-currencies-are-correcting-downward-thoughts
The end of July into early August is going to be interesting due to all the added speculation and fear but I think once everything settles some time in August the entire crypto space is going get a massive market cap boost across the board.
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