Crypto Frontline

Bitcoin Could Split Again in November 2017

Bitcoin Could Split Again in November 2017
October 30
20:34 2017

We already have two different cryptocurrencies and we mean the Bitcoin Core and the Bitcoin Cash, which resulted after a split that took place in August 2017. As we mentioned in one of our previous articles, what that meant was a split of the bitcoin blockchain (in other words, the structure that was registering all the financial transactions from the bitcoin system).

As some of the rumors point out, there could be a second split taking place in November, since the community is divided on a series of issues.

Why could bitcoin split again?

As Roger Ver already said: “There’s probably going to be another split between bitcoin legacy and SegWit2X version of bitcoin but that just gives me more coins that I can sell for the Bitcoin Cash version.”

It seems like to root of the problems is that as the currency gains more popularity, more and more transactions need to be processed, thus increased the time needed for that to be done. A split reduces the size of the blockchain, thus favoring a more rapidly transaction processing.

If the split will truly take place, it could have a short-term negative impact on the bitcoin price, a scenario that had been seen in August as well. After the split, bitcoin dropped by approximately 6.8%, before resuming the upside.

We’ll see what will happen then, but if the trading community won’t reach a common sense, then a new bitcoin split will most likely happen. This is another issue for Bitcoin, as the issue of Bitcoin taxation and regulation are taking the center stage.

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