Fork Fatigue? Bitcoin Segwit2X Fork Cancelled!

The core group behind the Bitcoin segwit 2x fork has relented and decided to suspend the currency hardfork.
This decision was reached in part due to the lack of uptake in the new blockchain by the mining community and lack of confidence that the new post fork blockchain would be secure.

Replay protection not being implemented on segwit 2x would jeopardize the security of Bitcoin blockchain transactions post fork as they could potentially be double dipped on both chains posing a huge security risk.

The markets have been predictably unpredictable post announcement, Bitcoin had a bullrun up to highs of 7800 then dropped back to the low 7k support levels, the Alt coins are starting to rally with gains across the board as capital flows from Bitcoin back to the Alt markets.

However, there is still massive potential for a huge Bitcoin correction as it has had a parabolic run up and Traders and Investors divest their profits out into the still depreciated Alt coin market while they are comparatively low.

The truth is it is far too early to tell which way this is going to play out, but the facts of an inflated Bitcoin market and starved alt market suggests what the emerging behavior will be.

One thing is for sure, trying to chase chart candles or predict your optimal buy/sell action will only net small gains at this stage and may have huge loss potential.

You may feel you are missing out sitting on the sidelines until the picture becomes clear while others make money, but remember for everyone making that perfect buy there are plenty more that mistimed their buy in or exit and lost on it. When the huge swings happen you will know.

Sometimes the best action is no action.