What will the Bitcoin price do now? This is what many people are asking right now.

On the afternoon of Wednesday, November 8, the announcement of the suspension of Segwit2x's hardfork turned the social networks and cryptomoney forums into a hotbed of comments on the price of the coveted bitcoin.

The automatic response would be to think that the volume of BTC that had moved to get free currency of Segwit2x will move to the market of the altcoins, and therefore will plummet.

While this is true, and spring has returned to the meadows of Coinmarketcap dyeing almost all prices of green, this does not have to mean a drastic fall in the price of Bitcoin for several reasons.

One of the most prominent is the recent announcement of CME Group Inc where they announce that they will add to their portfolio financial options from Bitcoin for the end of the year.

In the 24 hours after the announcement the largest exange in the United States, Coinbase registered an increase of more than 100,000 users, which joins the sustained growth of the past few months that does not stop, today it has about 12 million users and about 40 millions of portfolios in your possession.

The incorporation of Bitcoin in the financial options market reinforces its position in the face of large investors in markets such as Wall Street, providing stability and recognition to the cryptocurrency.

All it does is attract fresh and new money to the space of cryptomonedas, and its gateway in most cases is Bitcoin, so Bitcoin is receiving a constant inflow of capital that can at least mutilate the foreseeable loss of volume by fork cancellation, when it does not even get to increase it and increase the price too.

Another factor to consider is LedgerX, the first platform for exchange and settlement of cryptocurrencies for companies certified by the financial authorities of the United States, recorded 1 million USD in its launch week, more fuel to the fire.

To finish I share a technical analysis of the teacher @cryptopicasso, that can give us the clue of what is to come:

Emotions always play a fundamental role in the markets.

In any case, fasten the belts because when in December Bitcoin futures are launched, and start to put money under pressure in the market, the moon may be too close.

View original content here: medium.com

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