The Segwit2x fork will not be taking place as planned.
As promptly reported by Bitcoin News, the hard fork planned to occur in the night between November 8th and the 9th has not taken place due to a lack of community consensus. This has resulted after a heavily heated debate among crypto community members in the past few months over the scope of the upgrade; only 30% of miners have agreed to the split, thus negating the activation of the protocol that would've increased each block's size to 2MB.
Markets have responded dramatically: while segwit futures have lost 80% in a matter of a few hours, investors gained confidence and pulled in more assets in Bitcoin, which broke yet another peak this year reaching $7900 at its highest moment, last night, while Bitcoin cash has almost doubled its value since the last week of October. Other cryptocurrencies, also called altcoins (for alternative coins) have gained between 5 and 25%.
We have witnessed a firework show on most exchanges: buy transaction volumes on most exchanges went through the roof, and market capitalizations were hitting all-time highs as never before. However, some major exchanges, like Kraken, and the assets kept in them went completely blackout, leaving all transactions frozen and investors are powerless spectators. Currently, the situation seems to have unfolded and settled from last night, as investors are selling on their gains.
Keep in mind that crypto markets are unregulated and highly volatile, therefore we encourage you never to invest money that you are not willing to spend.
As always, cheers from the Blockchain 4 All team!
Lorenzo M. Zorzi Chiarioni