Bitcoin Price Prediction: 8 Years After SegWit, Will This “Independence Day” Drive the Next BTC Rally?
Main Idea
The article reflects on the 8th anniversary of Bitcoin's SegWit upgrade, comparing Bitcoin's growth with Bitcoin Cash and analyzing current Bitcoin price trends and technical outlook.
Key Points
1. August 1 marks eight years since the BTC SegWit upgrade, which reduced the influence of large mining pools and introduced scalability via the Lightning Network.
2. Bitcoin Cash (BCH) was created as a rival with larger blocks but has trailed behind Bitcoin in value and adoption.
3. Bitcoin's price technical outlook is bearish, with key supports at $112,643, $110,587, and $108,420, and RSI at 30.63 nearing oversold.
4. Bitcoin Hyper ($HYPER), a BTC-native Layer 2 project, has raised over $6.2 million in its presale, aiming to merge Bitcoin's security with Solana's speed.
5. The article provides a trade idea for Bitcoin, suggesting a short setup if the price fails to bounce at $114,900, with targets at $112,600 and $110,600.
Description
August 1 marks eight years since the BTC SegWit upgrade—a pivotal network shift that reshaped the protocol and birthed a rival, Bitcoin Cash (BCH). Known as “Bitcoin Independence Day,” the event reduced the influence of large mining pools and introduced a more scalable path for BTC via the Lightning Network. In 2017, the community was locked in a “block size war.” Some, led by figures like Roger Ver , wanted to expand the block size to support faster transactions and mass adoption. Others pushed...
Latest News
- Trump Nets Over $26M in Crypto Donations This Year, New Filings Reveal2025-08-02 13:19:28
- XRP Price Prediction: Overtaking ETH on Coinbase: Is This the Start of a Big XRP Rally?2025-08-02 10:35:23
- Ethereum Price Prediction: Daily Active Addresses at 2-Year Peak – What Does This Mean for ETH’s Value?2025-08-02 10:18:12
- Bitcoin Price Prediction: 8 Years After SegWit, Will This “Independence Day” Drive the Next BTC Rally?2025-08-02 10:06:07
- Nasdaq-Listed Mill City Eyes $500M Raise for Sui Strategy, Shares Sink2025-08-02 08:57:50