The Segwit2x Fork of Bitcoin Has Been Cancelled

It is official now – the Segwit2x effort as a solution for Bitcoins scalability problem has been cancelled for the moment and it will not happen at least in its current format. The lack of consensus supporting Segwit2x is the main reason for the project being cancelled, so no 2MB Segwit blocks for now. Eventually Bitcoin will need some sort of a solution for further scaling of the network with the price going higher, more transactions happening on the blockchain and the fees starting to increase again as a result. As a result of the Segwit2x getting cancelled there will most likely be a significant price fluctuations for Bitcoin in the next couple of days with analysts expecting that altcoins should start to get back their lost positions and the altcoin market will most likely boom once more.

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