Bitcoin Price Prediction July 26th
Bitcoin Price Prediction July 26th. Bitcoin bounced off highs of $700 and is in a narrow trading range between $680 and $640. Bitcoin tends to trade lower when the the S&P moves lower which I expect in the coming weeks. The surge up to $700 could be a result of the halving or the move up in Gold and the S&P. I expect a pullback to $600 as the S&P moves lower but short term there should be a move higher as the Stochastic RSI is at 8 and should reverse short term. The CCI is at -84 and trending up although and should move above the channel high near term.
I think we can now see (based on eth experience) that if bitcoin hard forks there will likely be two different communities for each side of the fork.
This will probably make a hard fork even more unlikely than previously and it will result in very negative attention to bitcoin from all major news outlets.
If we are stuck at 1mb blocks forever, I think bitcoin will become outdated and eventually surpassed by something else.
It’s honestly not a fair comparison, as a Bitcoin blocksize hardfork would have a different dynamic to it:
First of all, the long interval for difficulty adjustments makes it hard for the chain that ends up with only a fraction of the hashrate (as was the case with ETC) to stay viable. Depending on the timing of the fork, confirmation times on the minority chain would stay super high for a very long time, which acts as an incentive for any strugglers or people who are unaware or undecided to make the switch.
Secondly, the fork would have a higher capacity than the old chain, making transactions cheaper. This again provides an incentive for users to make the switch, as the fork is simply cheaper to use for them.
And thirdly, the “replay attacks” would actually help resolving the fork in the case of Bitcoin, because splitting bitcoins between the two chains is not as easy as with Ethereum. So again, people would have a hard time distinguishing between the two chains in the first place, because all their transactions get mirrored. This means that keeping the slower, weaker and more expensive chain alive makes no sense at all, as it doesn’t offer anything to anyone.
— Andrew T. DeSantis (@desantis) July 27, 2016
— Alex B. (@bergealex4) July 26, 2016
The recent Ethereum hack might have hurt the crypto-currency’s long-term support chances, but a recent move from a fairly major figure in the exchange market, Coinbase, may give it a little help getting over the hump, as the company scrapped its bitcoin-only support system in favor of adding Ethereum to the mix.
Coinbase not only offers exchange services for the professional trader, but also for the everyday consumer. An easy to use interface makes it a simple matter to trade in bitcoin, which is the kind of thing that kept a lot of potential investors out of the picture. Now, those who’d like to get in on the early days of Ethereum can do so more readily by going through Coinbase.
This isn’t the first time Coinbase has stepped out in favor of Ethereum; earlier this spring, Coinbase’s co-founder Fred Ehrsam got a blog post going that was very positive in Ethereum’s favor. Ehrsam’s post referred to Ethereum as being right at the front of developments in the digital currency market, regarding Ethereum as an improvement over bitcoin as opposed to an imitator or a product that offers a few minor tweaks.