I am quite a little late on this one and I do apologize since it was a great earning possibility, one that could have helped make some cryptocurrencies. Still, it is still not too late so you can act fast. I do not know for how long since this is always volatile but it is an option.
The main thing here is that the big SegWit2X Bitcoin hard fork is not happening. This is simply because backers were not able to convince the Bitcoin community to make this new chain the mainstream one. That was far-fetched to begin with following the Bitcoin Cash disaster.
The hard fork was supposed to increase Bitcoin block size to 2 MB. This is useful since it increases the cryptocurrency’s scalability. However, this is a controversial change that was not supported by most Bitcoin companies. Backers say that this is important for BTC but the community should be kept together and there is not enough consensus to create a “clean blocksize upgrade”. Basically, in order to not risk a divided community, the fork was called off. This was announced by all backers at the same time, including BitGo, Xapo, Bitmain, Bloq, Shapeshift and Blockchain.
What Should You Do?
The community was getting ready for the hard fork and it did not happen. Because of this, Bitcoin did lose some credibility. Bitcoin lost around $1,000 in value at the time of this writing. That does not mean that Bitcoin is going down. That is close to impossible at the moment. It simply means that this is the perfect time to invest in Bitcoin.
There is still some controversy happening with the Bitcoin Gold hard fork but that will surely pass. When it passes the value of Bitcoin will go over $7,500 so you can make a good profit if you act as fast as possible.
Some resources to help you:
- Best Bitcoin Exchange – avoid the Forex style traders
- 5 Ways To Buy Bitcoin With A Credit Card
- FaucetHub – Highly useful for those that use Bitcoin Faucets.
Remember that this is quite tricky and it can be dangerous if the community does not recover.
Because of this, you want to also invest in some alt coins. As always, diversifying your investments is always a great option. The main ones to consider at the moment are:
- Dogecoin – I have no idea why but it is getting more and more popular
- Bitcoin Cash
Remember that this is just what I believe will happen. There are still many that say Bitcoin will not recover after this controversy. That is close to impossible from my point of view. I am putting funds in Bitcoin and the alt currencies mentioned.