Bitcoin is awaiting hard fork. What does the current growth actually mean? Where will the price go after Aug. 1?
How scaling influenced the price
For several months, the main topic of discussion has been the hard fork case. In early July, before SegWit2x
implementation, Bitcoin price dropped significantly from $2,600 to $1,600. But less than a week before the transition, we see a price rise from $1,835, along with an increase in demand. The main bulk of purchases are concentrated at the $2,000 mark. Strong growth from the peak of long-term correction suggests that there is support for investors. The $2,300 level shows us the next confirmation for the uptrend and the price settles. If you evaluate the demand, you’ll see that its volume is much larger, compared to July 13, when Bitcoin was trading at the same levels. The large buyer holds its main positions at $2,000, $2,300 and $2,500, which is backed by the price rise before SegWit2x.