Why Bitcoin Is Surging Right Now - BIP 91

We all knew the August was going to be one crazy month. One the first we had a hard fork (which honestly has happened many times in the past but for some reason this one took the news front and center) Now with bitcoin cash out of the way and truely lack of support we are now pressing into SEGWIT.

*Image taken from segwit.co

BIP 91 is a go which activated is 80% of the network started to show support for it. As we stand right now 97% of the network power is voting for BIP 91 SEGWIT now. This will provide an upgrade to bitcoin and a hard fork has been avoided for the time being!

This news has sparked Bitcoin to climb in value and I believe as soon as the next 48-72 hours will activate on the network. This update to the block chain seems to be pushing in some key features which will also help bitcoin grow after this and avoid future hard forks.

This new infrastructure allows for two-layer solutions such as Lightning network to operate. One thing I am looking forward to is Tubmlebit which will further scale the Bitcoin network by enabling micro payments and applications that are not possible at the present. This small feature could open up a whole new era for bitcoin and allow it to tap into even more markets.

With all of this being done and said you can clearly see the lack of support for BCH (bitcoin cash) While their might be some volatility in the market for that coin over the next few months it for sure is not a coin I would bet on being successful. Bitcoin is here to stay and grow and now $5,000 by year end or sooner is a real possibility.