Segregated Witness (SegWit) is an improvement project for the Bitcoin protocol. It has already been activated in some other crypto-coins, but has not yet been activated in the currency for which it was designated, Bitcoin.
Last week bitcoin gave a "lock in" on the SegWit protocol update, which will be effectively activated on August 23rd. SegWit opens up a huge range of possible new features for bitcoin in the future, and this may be one reason for the euphoria of the market, causing bitcoin to reach new tops in price every day.
The most famous cryptomoeda that already activated the SegWit, was the Litecoin, on May 10, 2017. At that time, no one knew what the effect would be. This is normal, since this solution was designed for Bitcoin in the first place. However, already with the rumors, the market reacted very well to the announcement and the price of the Litecoin skyrocketed. Following the activation of SegWit, litecoin went from US $ 30 to US $ 55. Considering the recovery since the beginning of the year, Litecoin has valued more than 1000%. Currently Litecoin is priced at $ 44.
Can Bitcoin follow this same path?
With SegWit enabled, new possibilities will appear. Bitcoin will begin to scale and provide cheaper transactions. There will be no congestion in mempool as occurred this year. At least that's what everyone expects.
Considering the release of Litecoin only after the activation of SegWit, from $ 30 to $ 55, an increase of 85% and simulating a similar increase for Bitcoin, we could reach values close to $ 8000.
This is unlikely to occur. It is possible that the price of Bitcoin is already being priced for the activation of SegWit, but the market for criptomoedas is very unpredictable so it will only be possible to know after it actually happened.
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