When the SegWit lockdown, which we can describe as the development and scaling solution of the Bitcoin Core developer team, occurs, the market and investors are talking about their trust in Bitcoin and its ability to scale. And they say all this will increase the price of Bitcoin. So why will the Bitcoin price increase in this process? We’ll talk about that in this article.
The locking and role of SegWit activation definitely played a big role in increasing the value of Bitcoin.
Debates on Bitcoin and block size scaling have been going on since 2015. Enabling SegWit marks a major milestone in Bitcoin and the first big step towards scaling.
However, it would be wrong to say that the volatility in Bitcoin price was solely due to SegWit.
Consumers throughout 2017 The adoption of Bitcoin by stockbrokers, institutional investors, large-scale conglomerates, and traders has increased significantly.. It can also be said that it plays the role of a safe investment warehouse and gold for long-term investors.
Three main reasons why Bitcoin price will continue to rise
Bitcoin price is likely to increase at a consistent rate in the coming months. Three major factors in these increases: adoption by institutional investors, the elimination of uncertainties about Bitcoin’s scaling, and increased legalization of Bitcoin in major economies.
Trade volume of Bitcoin and the entire cryptocurrency market exceeded $ 5.5 billion.. $3 billion of that volume belongs to Bitcoin and Ethereum.
Such arrangements, including Gemini’s daily Bitcoin auction (Bitcoin auction system) and the Bitcoin integration of the Chicago Board Options Exchange (CBOE) Institutional investors will be able to trade higher amounts of Bitcoin on exchanges that make. This indicates that Bitcoin will fall into the hands of wider investors and the market will move.
Fidelity CEO Abigail Johnson said:
“We made small Bitcoin transactions. We tried small Bitcoin and Ethereum mining operations. All of this was done in the spirit of learning, and I believe in it.”
Besides these, perhaps one of the most important factors is that after the Bitcoin Cash separation on August 1, the uncertainty in people’s minds was resolved.
For years, the Bitcoin community and industry have expressed concerns over the security issues of the fork, but the separation did not have the expected effects on Bitcoin. In fact, the value and demand of Bitcoin has never increased this much before.