Can Bitcoin Do A 10x Price Increase Now Thanks To Segwit ?
Good Morning Fellow Steemians,
Recently bitcoin has been in a continious bull run with some slight corrections here and there but can it add more value after the segwit implementation ?
What Is Segwit ?
To get a better and simple understanding of what bitcoin is about to implement :
A bitcoin transaction contains 3 items input_adresses, output_adresses and signature_data and what segwit is intends to do is to seperate (segregate) the processing of signature_data from the inputs and outputs of the transaction and therefore a bitcoin block would process more transactions without even increasing the blocksize and if the blocksize increases then i think bitcoin can scale up to 10 times better than now.
Bitcoin Following Litecoin Post Segwit Experience
Earlier this year and before even litecoin implemented segwit you could have got litecoin tokens for $4 and after a long struggle and time implementing segwit the litecoin price sits @ around $40, can bitcoin do the same ?
In my opinion i think bitcoin can definetly do a 10x price increase because if you look back it has been increasing in price without any improvements (technically speaking) !!!
Besides since all this scaling issues have started people have been hedging towards popular altcoins(eth, dash , ltc...) and this affects the bitcoin price where Alistair Milne a popular investor and entrepreneur tweeted :
So if these scaling issues get solved and segwit implements successfully hopefully people will have their faith back in bitcoin and start investing back in it rather than investing in altcoins.
Thank You Guys For Reading I Hope This Post Was Informative For You, Resteem It To Let Your Followers Know That The Future Of Bitcoin Is Bright :)
Another 10x?
If Segwit Gets Fully Activated And Functions Properly I Don't See What's Stopping That :)
It could actually do a 1000x increase! A month ago I've showed that an increase to 4 million is possible!!! Check it out if you want. My newest post is informative too: https://steemit.com/steemit/@pizzachain/pizza-science-why-is-blood-red
This comment has received a 1.74 % upvote from @drotto thanks to: @pizzachain.
That Might Be Possible But Not This Year :p
maybe 4x this year; or its already up 4x
we may need government to lax regulations (build the market liquidity, like an ETF) for the BIG money to get in. I mean bitcoin's worth over $30 Billion already!
Great insight... has me pondering.. have also been thinking that with all the publicity there is alot of new money starting to be funneled into Bitcoin because really that's all the mainstream knows, so it's all good.
I have to agree with the fact that the price can increase many time. Though the statement that some of it could come from altcoins is one step too far for me. There has already been a massive flight from alts to BTC in the past few weeks. This trend should reverse in my opinion not get stronger due to the better technologies of other currencies. When other coins get noticed by the general public this should turn around fast. cheers
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