Bitcoin Price has just crossed the 3440 USD mark. It's upward momentum is established by the fact that Segwit is going to lock in soon thanks to the efforts of all the miners and Bitcoin Core Development Team.
Upon the activation of SegWit, bitcoin blocks and transactions are expected to be optimized by 75 percent and significantly decrease the size of bitcoin blocks in general.
But I think the most important feature of activating Segwit is that it will tighten security measures of hardware Bitcoin wallets such as Trezor.
I think there are three reasons for the momentum of Bitcoin.
- Increase in its demand across the Globe.
- Completion of the Bitcoin Cash Hardfork.
- Lastly there is no uncertainty that Bitcoin has a short future, it is here to stay.
We know that recently Bitcoin hardforked forming the Bitcoin Cash we all thought it might bring the price of Bitcoin down but to everyones suprise Bitcoin stayed strong at 2700 USD. It gave a lot of support to Bitcoins standing in this cryptocurrenncy world.
I really hope Bitcoin soars through the roof.