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BitGo Engineer: The Bitcoin Prize is gaining momentum for "bursting into SegWit2x"

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Jameson Lopp, a highly respected bitcoin developer and chief engineer at BitGo, said that the bitcoin price is gaining momentum to cross the SegWit2x rigid forks scheduled for 16 November.

$ 3,300 to $ 7,400 in October

Since early October, the price of bitcoin has risen from 3,300 to 7,400 dollars, more than 4,100 dollars in 30 days. Several analysts like Max Keizer have attributed the recent surge in bitcoin prices to market optimism regarding the launch of bitcoin futures markets by CME and CBOE, two of the world's largest stock exchanges.

In addition to the entry of institutional and retail traders, Lopp explained that the price of bitcoin would rise continuously due to market confidence in the medium-term growth of bitcoin and the decline support for SegWit2x.

This week, three companies including BitGo and Bitso, a bitcoin exchange of South America, hinted that they would withdraw from the agreement of Segway on the NYW. While the main bitcoin platforms such as Coinbase and Blockchain have remained in the SegWit2x agreement, many companies have rejected the SegWit2x rigid fork because of its contentious nature.

Daniel Bogel, a leader of Bitso, wrote:

"There is little that is clear to me about this upcoming Fork, but the lack of consensus is certainly part of that." A technical mailing list, I invite everyone to rethink the S2X code from a technical point of view. The code base was written as an upgrade to Bitcoin. I believe that & # 39; There is enough hard data to make it clear that S2X is no longer an upgrade.F2Pool has moved back Slush Pool has never been in the ViaBTC, said that none of its customers do not ask S2X said that they will exploit all that is more profitable When do we have to stop and rethink? "

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Would SegWit2x supporters not invest in Bitcoin and not lead a rally?

Several analysts in the past have also said that investors and companies that support the SegWit2x rigid fork would also invest in Bitcoin as the only way to get SegWit2x coin (B2X) on its hard range is to own bitcoin before the fork.

As a result, some have suggested that the support of SegWit2x could have increased the price of bitcoin, as more and more investors would have bought bitcoin to get B2X on November 16th.

The demand for SegWit2x certainly can not be discounted by evaluating the recent bitcoin price trend as investors who support the hard range could hold the bitcoin to get the B2X. But, as noted developers and respected personalities like Lopp, it's much more likely that the community's trust in the original bitcoin network and the likelihood that the inherited chain will remain the majority channel, or bitcoin, have contributed to the recent rise the price of bitcoin.

In the short term, it is likely that the price of bitcoin will continue to rise, supported by the momentum established by the optimism of the US bitcoin market in the medium-term trend of cryptocurrency.