My thinking at the moment is that I have no doubt Core will resist the 2MB hard fork. As of this minute they will be coming up with an "angle" for them to justify splitting. They may even decide on a POW change to a new algorithm in a vain attempt to prevent the miners from centralising (controlling) their side of the split. Some or all of them may also throw in the towel and just go join the Litecoin team (they may as well IMHO) Point is they are becoming increasingly irrelevant and they are in real danger of losing the PR battle if they try and fight the SegWit2x agreement. Anyways, I'm counting on at least a bit of market euphoria now that segwit is becoming a reality. Both sides will claim a victory and put the guns down for a bit to try and restore confidence to Bitcoin (and the whole crypto market) since sentiment has been dented so badly over the last month. For traders there should be ample opportunity to trade the upswing and switch out or hedge over the next 3 months. Especially if we go into a new mania cycle - which could be even crazier than the last one - we may even see a big blow-off top. On Bitstamp I notice Bitcoin had shot up to $2938 to threaten the ATH already. That has happened very quickly. It's pulled back a bit now but I think it's only a matter of time until we get the next leg up for a new ATH. The big institutional speculators will be wanting to see the dust settled before they move back in, but now that the technicals on the chart have been blown out of the water all those guys relying purely on TA and calling for a bear market will be desperately short covering. That might be what we're seeing now actually, a mad scramble of the shorts. Real buying should follow once the reality sinks in.
Bedtime soon, but I can see BTC building again and I half expect to wake up tomorrow and see a new all time high.
Tsk, tsk rsk. Bedtime already on a Saturday night? You must be getting old bugged Regardless, good call on the dip.
This is a good representation of current Technical Analysis on Bitcoin. https://steemit.com/bitcoin/@msg768...ats-after-hitting-almost-usd3000-00-usd-again It's 5 days old now, but he's pretty much bang on with the price action since posting it. His target price is about $2100 USD in early August, but he hasn't accounted for fundamentals (just drawing lines on a chart). There is the Bitcoin Cash coin fork which will probably take some market cap away from BTC, now there is news of US government imposing regulations on ICOs. In this instance I think the fundamentals might be starting to support this technical view I've taken some profits from the last rally off the table.
