Bitcoin Price Prediction: 8 Years After SegWit, Will This “Independence Day” Drive the Next BTC Rally?

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.