The planned bitcoin protocol upgrade Segwit2x got cancelled yesterday due to insufficient consensus. This led to an unwinding of the previous ‘free money’ trade. Both alts we follow on Thursdays have since rallied. ETH Rallies on Segwit2x cancellation

The planned 2MB block increase got cancelled yesterday. The announcement on linuxfoundation.org says:

‘Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth’

The post is signed by the lead Segwit2x developer Jeff Garzik, Jihan Wu, a major Chinese miner and Mike Belshe, CEO of BitGo. Erik Voorhees confirmed the news on his twitter. Read more: https://blog.fxopen.com/altcoins-rally-as-segwit2x-is-cancelled/