Touur Demeister, a well-known bitcoin investor, analyst and editor-in-chief of Adamant Research, believes that the bitcoin price will go over $ 5,000 if SegWit2x support decreases in the next few days.
China can resume trading in crypto-currencies, but what about SegWit2x?.
Since the beginning of September, the price of bitcoin struggled to recover and to exceed $ 4,500. The main uncertainties are the Chinese market and SegWit2x. Analysts are optimistic about the situation in China because of the recent article published by the state news agency Xinhua.
The agency said that regulators should adhere to a tough position regarding the use of crypto currency to prevent crime, although some fragments of the statement hint at the fact that licensed crypto-exchange exchanges are quite possible.
Although it becomes more and more obvious that the Chinese government will resume trading in crypto-currencies in the future, it is still too early to predict when the licensing program for crypto-exchange.
But the uncertainty around SegWit2x continues to hold back the bitcoin price. Several businesses came out of the New York agreement about SegWit2x. Demester notes that if support for SegWit2x decreases in the next few days and weeks, the bitcoin price may well be closer to $ 5,000:.
The graphs still need to be confirmed, but if the effect of the 2X hardware is insignificant, there are all prerequisites to assume that the course will jump to $ 5000.
Why SegWit2x differs from the forks of Bitcoin Cash and Ethereum Classic Earlier this week, Charlie Lee, creator of Litecoin and former CEO of Coinbase, noted that SegWit2x is fundamentally different from Bitcoin Cash and Ethereum Classic, because today this fork has a strong support among the miners.
Thus, it will be a rare case when the SegWit2x hardware will be performed as an "update" of the bitcoin protocol, but it will lead to the emergence of a separate network, because both networks (bitcoin and SegWit2x) have the opportunity to become the main. It is likely that exchanges such as Coinbase will work with both networks, although in the future they can only leave one if, although it is unlikely, SegWit2x will turn into a network used by the majority.
The situation with 2x is very ambiguous, Coinbase can not cope with it just like with ETC and BCH.
In other words, they can not just choose one currency and ignore the other.
Choosing support for only one currency (depending on what it is) will cause a lot of confusion for users and make them vulnerable to lawsuits. Therefore, Coinbase will be forced to support both currencies immediately after the hard-core and should allow the market to decide which of the currencies is a real bitcoin.
Medium-term indicators are very dependent on the situation with fork SegWit2x. Positive signals are already there - this is an increase in crypto-currency operations in Japan and South Korea and the possible introduction of licenses for this activity in China.