Traders and Investors are Coming Back to Bitcoin: Reasons & Trends

sergey44 (66)in #crypto • 7 years ago

Traders and investors are coming back to Bitcoin due to the lock-in of BIP 91 and the high probability of Segregated WItness being activated in the near future.Bitcoin’s dominance over the cryptocurrency market is closing on 50 percent, with the Bitcoin dominance index currently at 48 percent.Already, BIP 91 is fully locked in and the community anticipating for the signaling of Bit 1, which would then finalize the activation of SegWit. Bitcoin Core developers including Peter Todd stated that there is a 25 percent chance that SegWit will not be activated if miners decide to shift away from the BiP 91 activation mechanism.The activation of SegWit will also lead to the creation of Lightning Network-based Bitcoin micropayments applications. Some Blockchain infrastructure providers and Bitcoin firms including Bitfury have developed Lightning-focused wallet platforms to allow users to transact micropayments with zero confirmations.Hence, the activation of SegWit through BIP 91 will trigger the Bitcoin development community and will lead to the emergence of unique and innovative applications that will likely further scale the Bitcoin network.