Price action was all over the place today, especially once the latest news on SegWit2X hit social media far and wide. Bitcoin fell shy of $8,000, and this was rather unexpected, considering how quickly the
Plans for the SegWit2X bitcoin fork have been suspended indefinitely, and traders are scrambling to adapt to the new circumstances. Notable upswings are taking place among many of the top alternative crypto currencies. As a consequence, additional time may be needed before a new equilibrium establishes amidst high profile trading pairs.
The 2x fork is dead
Long live #bitcoin pic.twitter.com/03PczBlVvc— Alistair Milne (@alistairmilne) November 8, 2017
Bitcoin dropped $1000 in just over an hour. Reminds me of the old days. pic.twitter.com/qmmD6PHXBC
— MalwareTech (@MalwareTechBlog) November 8, 2017
Ethereum classic was
#EthereumClassic Inaugural Summit Only 5 Days Away!?
Two days packed with Panels, Speakers, Workshops, complete with a Live-Stream? More Info TBA #ETCSummit #ETCisComing https://t.co/ksoAZPhZdN pic.twitter.com/MkyC21OyLM— ETC Is Coming (@ETCisComing) November 8, 2017
Ethereum was not that far behind, and despite gravitating toward a price point of $300 throughout the last few months, it managed to once more, breakout further to a new $319.9 weekly high. A day earlier we had the parity hack, when due to negligence and lackluster coding, approximately 1 million ETH held by users of the aforementioned wallet, was frozen out of the market. Strangely enough, the parity wallet blunder did not impact trading that much, nor did it serve as an effective catalyst, even though the whole affair was universally panned across the board.
The full statement and update can be found on our website https://t.co/dBfLnrYIMB. If you would like to check if your wallet has been affected pls visit: https://t.co/kmQjKKuZRI pic.twitter.com/NZbAFpcbWj
— Parity Technologies (@ParityTech) November 8, 2017
Apparently around 930k $ETH (~$280M) are locked because of the @ParityTech bug.
— WhalePanda (@WhalePanda) November 7, 2017
CME futures are now being cited as a
Epic battle in the #bitcoin markets right now between *traders* selling due to no “$B2X dividend” & *investors* buying due to no #SegWit2x pic.twitter.com/0FJt0Aj01J
— Chris Burniske (@cburniske) November 8, 2017
Post #SegWit2x cancellation, #cryptoassets sans #bitcoin are flying as traders rebalance into things they think have a near term catalyst. pic.twitter.com/r8wPBHvaff
— Chris Burniske (@cburniske) November 8, 2017
Bitcoin began trading from the $6,340.01 weekly low on November 1 (GMT 04:00). The next week was followed by 5 new
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