Yes, after all the build up, hype, panic, anticipation and speculation based on the desire for free cryptocurrency dividends, the Segwit2x hard fork has been cancelled.
BitGo CEO, Mike Belshe, states the reason for the cancellation as, "it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x". You can read his announcement in full here.
Shortly after the announcement, the price of Bitcoin rose to a new all time high above $7800. This, however, was short lived, with the price falling back to just above $7,000. At the time of writing it has picked up to around $7,400.
What remains to be seen is whether those who recently invested in Bitcoin with the specific aim of claiming free SegWit2x coins will continue to hold or sell. If the latter happens in volume, we could see a further drop in price. Either way, as is often the case, we're in for interesting times ahead in Bitcoin.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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