Drastic Times Are Ahead In Just Under 11 Days - Bitcoin and Segwit2x
B2X otherwise known as Segwit2x is just a few days away. This will be happening at block #494,784 or roughly November 16th 2017 at around 9 am EST you can watch the countdown here - http://bashco.github.io/2x_Countdown/ (note this will change as some blocks can be longer or shorter to process.
In this post I wanted to go over B2X Futures market and also hash rates so we can get an idea of how popular this hard fork might be. We could gauge this a bit with both Bitcoin cash and Bitcoin gold.
The screenshot below was taken from https://coinmarketcap.com/currencies/segwit2x/
I have been watching this over the last few days and comparing it to how bitcoin golds futures where and bitcoin cash.
Cash the first big hard fork come in at just around$700-$800 on average when the fork happened which has turned out to be a decent victory holding prices now at around $500 mark.
Gold the second big publicized hard fork came in at about $130 on average which honestly was a huge flop and not even worth to mention the trading value on it.
If we take these two as success and failures of a hard fork then we are looking at a rather large support and success of segwit2x however not over taking bitcoin and here is why.
Futures holding steady at $1,700 - $2,000 and on an upward tick as of today 11/5/2017.
Futures are a good indication of how much backing and support are on a coin before it gets hard forked. At the moment we are rather steady at about $1,700 however seems to be a hard steady at the moment with a slow uptick if that continues we could be seeing a value of just over $2,000 which shows the support for this coin is double almost triple what bitcoin cash was.
Mining Difficulty
By looking at hash rates now and when the hard fork happens we can see clearly how much support there is going towards each coin to see what one would claim the title of BTC - Bitcoin. Whats important to note about this hardfork is it is truly trying to take the bitcoin name and become the new block chain unlike the others which are their own alt coin.
The images below are screenshots from https://bitcoinwisdom.com/bitcoin/difficulty
This chart shows the last 2 months of bitcoins mining difficulty. We can see at the tail of it there is a major reduction of mining power for bitcoin however it climbs back up and now is on a steady line. This looks like a major change however if we open the chart further to say the last months we see this trend is pretty normal and also we saw the same major reduction right with cash launched and bounced right back.
With bitcoin cash we can see the huge dip like we are seeing just before B2X however also see how quickly it recovered. At the moment this chart shows me some support towards B2X but nothing overwhelming. However keep this chart on your radar when we do hit that hard fork to better see where the support is trending to. This will help you make educated decisions on when to buy, hold and sell.
Very nice Post, thank you 👍
I look at as bitcoin being pregnant having i dunno how many kids in the future as the forks keep coming
meet me around the block #494,784 at around 9 am...no cops!
lol
Sir @kingyus I need to your guidance. How can I contact you? Are you at discord?
send me a private message at discord if you must. I will see it when I go there
but what is it about?
About cryptocurreny. Can you please send me your discord link?
Hi ,
Thanks for sharing
Informative post. Thanks for sharing. Will the price of Bitcoin down in some days? Is it best to buy any currency right now?
yup today we are down they will be minor corrections like always but the trend it still upwards so these dips of $300-$600 are honestly not a big deal and just a healthy quick pull back. Unlike stocks bitcoin trades world wide and 24 hours a day so the adjustments are quick.
Exactly right :)
I think this fork is great buy opportunity so I would recommend buying before 15th Novermber. I guess the sooner the better.
i wanna know why steem price is getting down and down ? when will it rise again ? any predictions any explanations ?
I think the fact that Steem is created out of thin air and the fact you can earn $150 by posting a picture of a cat and then sell it on an exchange 7 days later makes people less inclined to pay for it by parting with their Bitcoin.
don't forget all the steem power are actually money stacked , forget about the 50% in sbd that goes out on exchanges...there is the other 50% that goes to steem power...if you take power out and replaced it with interests then you can have a more clear picture
everytime you vote you are creating dividents or interests which rates differs depending on the size, weight of your vote
if all sbd were to leave steemit we will still be growing by 50% or half the speed as if we would if we re invest all the sbd in steem power...
50 % growth is not bad ..
even if no new users were to enter steemit the time will come were the interests will surpass the initial invested capital in steem power and so on in an ever increasing value
that;s why we say steemit to the moon ;)
right now people are cashing out to buy bitcoin and benefit from the doubling that will occur on the fork for example let's say I have 5 bitcoin in my external wallet (but not in exchanges wallets like biirex polionex etc) on the day of the fork I will be having 10 bitcoin...for free..
so now we have like what? 200 bilions in crypto and by now almost 80 billions are in bitcoins?? we are talking around 150 to 160 billions in total bitcoin cap market literally overnight
people are rushing to buy bitcoin which will increase the number of coins but also the value
once the doubling is done I see bitcoin will take a dip down to around 6000 even maybe lower than that but never under 5000
that is because people would wanna sell those extra cins they got at maybe 8000 or higher and that is when you will see steem demand rising and so its price
@poias @somecoolname
On Jul 13, 2016 Steem was at $4.93. Since then it has been around a $1 (give or take). We keep hearing about the thousands and thousands of new members signing up each day yet the price is lower than it was in 2016 when the user base on Steemit was so much lower. Demand normally makes price go up not down. Gold, Bitcoin, Silver etc have value because they are rare, the way Steem is created and is so easily obtained (by Whales) devalues it in a massive way.
Also the 50% that goes into Steem power can be powered down and then sold.
This sounds like I'm complaing about Steemit, but I really like the platform. It's a great place to talk about crypto and get rewarded. I just think its bad advice when people are peddling Steem as being worth upwards of $100 in the future, this simply will not be the case.
I agree with you! but unfortunately people power down! then count all the people that are inactive and didn't invest steem! do that then add to the real active users that doesnt strip rewards and you will see we are in the few thousands and few thousands are making the price worth a 1 dollar or so...that's not bad
all thanks goes to the whales holding millions and delegating millions ...and curating by the hundreds ...if it weren't for them...there wouldn't be something called steem as it would have shorted a long time ago
even if big whales decide to power down everything you can still blog and still vote and do practically eveything else if you don't care about money...eventually someone will be interested and will invest money in it and so the price would go up again and that is how whales were made
Steemit can go bear market for ever and never crash lol
Steemit does really have fishy smell ....the minnow / dolphin / Whale seems like an inside joke, upvote yourself to make a fortune
... or those could be advertising pumps to increase interest in the platform
sure big #'s with $ in front look enticing to try out ... look deeper at the picture
When Steemit let us start to swim in the ecosystem.....we saw picture of flowers making $500 dollars in 3 hrs
Ya man..widen eye marketing to hookem in
But then sour grapes changed the taste in the mouths of some who were actually freelance Pro's...making 0.07 cents for the same flower but better centred.
This leads to complaining and subconscious hate commenting
Best guess is steemit had some major issues with its website for honestly 2-3 weeks where you could hardly do anything. It has gotten much better and in 2018 steemit is honestly going to have competition. Steem is one of the hardest currencies to predict however it should return to the $2 mark some time next year if everything continues to go well such as growth of site and uptime reliability.
I agree with your opinion. I believe that in the future it will move further upwards. We hope Steemit will bring something better in us. And we'll get something better than Steemit.
some say it will shoot to 2$
the thing with steem is that it is tooooo volatile and can go crazy...;p
Thanks for the info
That looks pretty strong for B2X. Are there any other hard-forks that you think will happen after this one?
Oh i'm sure of it hard forks have happened in the past with many cryptos and will continue to do so as ICOs are now out these hardforks or also known as air drops are currently legal ways to create a new coin and get capital and publicity.
Watching your post and these graphs makes me think that after the hard fork the Bitcoin price (whatever the Bitcoin will be) will drop, and then it will slowly recover, reaching even higher levels!
Ah yes i'm sure there will be pull back once the hard fork takes place it has always happened in the past. However also to take note of is that it has always quickly recovered within the first week and continued upward.
Yes, and I guess there will be a good time to invest in bitcoin, right after the hard-fork, when the price goes a little bit down, but which will be the bitcoin? :))
that's what I call the clearings after the storm...
I will have a fat short prepared for this and I am shorting all the way up. Resteemed
Do you mind me asking what trading platform you use to create the short? And honestly that seems like a good play! You should do very well with it
I use Bitmex. Here is my affiliate for 10% off fees for six months. I also never go above 15X leverage. https://www.bitmex.com/register/vAg9cN
Thanks!
that's right1 that is what will happen on grand scale
img credz: pixabay.com
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