The week appeared to be quite unexpected for Bitcoin community, namely because of the cancellation of SegWit fork. Despite the controversial attitude toward it within the community and the obvious lack of support, no one could anticipate it would be cancelled at the last moment.
At the beginning of the week the price of Bitcoin resembled a rollercoaster, it reached another all-time heights of $7,800, and then dropped to $7,300. The second half of the week showed steady downfall to its present value of $6,553.62. More than a thousand dollars away in a couple of days. It might seem a tragedy for those who bought at $7,300.
Market experts anticipate the fall continuing to about $5,000, then turning into steady increase. Michael Morton, the founder of Morton Bitcoin Management, a niche IT investment firm that specializes in Bitcoin investing and startups using blockchain technologies, and GNEISS, a universal Ethereum peer-to-peer smart contract asset exchange, stated to Coinidol:
“I strongly support the decision to cancel the Segwit2x Fork. Any blockchain that tries to fork bitcoin I see as an attack on the original network. There is only one bitcoin. I would expect a short term retrace to around $5,000. Followed by the long term bitcoin bull market to end up above $10,000 by the end of the year”.
https://coinidol.com/bitcoin-price-downfall-from-all-time-heights/
