Bloomberg’s analysts and commentator Yuji Nakamura predicts another turmoil around Bitcoin (Bitcoin) in the nearest future which he calls ‘Bitcoin's next civil war battle’.
He recalls how the cryptocurrency community ‘breathed a sigh of relief’ in July when an upgrade to bitcoin's underlying software SegWit2x was launched.
Indeed, Bitcoin’s price topped a record of $4,300, gaining almost $1,000 to its rate in a week’s time and its market cap soared past $70 billion bringing the market capitalisation of all cryptocurrencies to a record $138 billion.
After the agreement, the cryptocurrency has doubled in price.
However, SegWit2x is a two-step process, and only the first one has already been complete. The second step is scheduled for November.
It has already generated controversy and could halt the rally unless all technicalities will be done successfully
Crypto currency enthusiasts should pay attention to these three if they want to save their money and earn more in the coming months.
- If new tools like Lightning are being tested or implemented it would be the sign that Bitcoin can be as innovative as other cryptocurrencies, and hence successful.
- If SegWit2x’s second phase, scheduled for November, receives weak support from the part of either miners or developers, it would be the sing of a bigger split threat.
- If Bitcoin Cash's price rises, it could create incentives for more miners to abandon the original bitcoin and migrate to the new version or even create more offshoots.