Cryptos Land: Events that were supposed to kill Bitcoin

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Saturday, 11 November 2017

Events that were supposed to kill Bitcoin

Year 2017 have unfold many exciting events in the Crypto industry both for Altcoins and Bitcoin. About 500+ new coins or tokens were created in this year most of them turning into scam or to a zero volume with pumps and dumps on several Altcoins and Bitcoin hitting all time high made this year worth remember. However, there were events in the Crypto industry that was supposed to kill Bitcoin. Cryptosland have summed up some of these reasons.

1. Bitcoin Segwit Activation
In July the price of Bitcoin faced heavy resistance at $2000. With in few weeks Bitcoin price dropped from $3200 to $1800 and people really thought this might be the end of Bitcoin due to network disruption. Most of the traders at that time were new since the Bitcoin went mainstream during the period and this added to the factor of panic selling. However, there were some lucky people who were buying Bitcoin at any price possible because they have some idea that after segwit is activated on Bitcoin it will fly to new high

2. China banning Exchanges/Bitcoin
Can't really forget this big dip in Bitcoin price specially in NEO's coin price where thousands of Bitcoins were sold in open market resulting in what most of the people termed as "Discounted Price for Bitcoins". Most of the traders thanked China for its war on digital currency by buying the currency at a lower price while some speculates the end of Bitcoin.

3. Bitcoin bubble claims
In the month of Sept and Oct many claims were made by several notable millionaires including, Saudi Prince Waleed Bin Talal, Warren Buffet, JP Morgan, etc claiming that Bitcoin is in a bubble territory and the people will regret buying it. They argued that Bitcoin is not even worth an investment. However, time have passed and Bitcoin keeps hitting all time high in November.

4. Segwit2x
Last one that turned out to be a joke, people thought that Segwit2x hard fork that was originally planned to be happened in November would leave Bitcoin in dust, but it was the backers of Segwit2x that faced the dust because the planned was cancelled and backers of the idea back off from the project due to lack of consensus. However, some people still want to continue with the fork and would probably be out of sight in the following months.

Year 2017 is about to end and Bitcoin is still standing strong!

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