This week Bitcoin has been on a struggle to go over or maintain 11k. Just yesterday we saw a correction that bottomed at about $10,200 and it’s now ranging between 10K and 11K. Another, possibly bearish, mini crash could even take it below 10K this week.
However, on the background, positive news are brewing for next week that can quickly reverse this minor correction and continue the general bullish trend. Coinbase and Bitfinex have both announced their readiness to implement Segwit. Bitfinex is already rolling it out and Coinbase will start by mid-next week. Bitcoin fees are already very low, so this will make them even cheaper soon.
Segwit transactions continue steadily increasing on the Bitcoin network, even without Coinbase and Bitfinex officially adopting it yet
Also, brewing in the background is Lightning Network. It already has over 800 running nodes and counting on its mainnet implantation, which is a little crazy, considering it’s still in its testing phase.
800 nodes and counting running Lightning Network on mainnet
So far, we haven’t heard of any major screw ups, except for a few bugs here and there that developers are working on. This is very encouraging for a nascent network of such proportions. The longer the Lightning Network simply exists, the more valuable it becomes, just like Bitcoin, Ethereum and other Crypto platforms that age well like that 🙂
Even though we are experiencing a bit of a rough correction right now, barring any unforeseen black swan events, we should continue on the general bullish trend next week. Don’t be foolish and panic sell on small corrections like these. Always wait for strong confirmation on the trends.
Speaking of HODLing, I leave with this super funny viral video which I found thanks to fellow Steemian and Crypto Investor @Chesatoshi Thanks man!