Bitcoin Segwit2x fork has been the most controversial fork, even in comparison with the Bitcoin Cash drama. It was expected to occur in the middle of November, until a last-minute stunt caught its launch in the mid-air. Many thought it would be the end of it. But a new date was eventually picked up. Nevertheless the markets will make or follow whoever is the winner, whether it is with love or aversion.
According to CoinMarketCap, at 1:39 PM UTC, the value of the Bitcoin is slowly reconvering by 7.67% at $14,283.
The previous week, the price of bitcoin fell after reaching a mark of $20,000.
Market traders are on hold regarding the Segwit2X fork. Initially, it was planned in November, but eventually moved. The fork is scheduled for the block #501451, which should happen around December 28.
Segwit2x assumes an increase in the block size to 4 MB (instead of 1 MB), an increase in the block’s production rate to 2.5 minutes (instead of 10 minutes), a replay protection, and the support of smart contracts. It should also include a constant compexity
Experts believe that a sharp rise in the cost of bitcoin in mid-December shook the confidence of traders who began to seriously consider the theory of a crypto currency bubble. The subsequent reduction in prices specialists explained by market factors.
According to the Business Insider Executive Editor Sarah Silverstein, the drop in the cost of bitcoin may be due to the fact that the alternative crypto currency – Bitcoin Cash – was « somewhat legalized » when it was added to the media resource Coinbase, specializing in crypto-currencies.
Last week, Bitcoin.com Co-Founder, Emil Oldenburg, said that Bitcoin has no prospects as a trading currency: he sold all his bitcoins, opting for Bitcoin Cash.
How will Segwit2X change the story ? We shall soon know.