Bitcoin prices bullish and ranging Proposal to slash block size to 300kb resuscitated Transactional volumes low but likely to expand as BTC demand pick up
Luke J is putting forth a bid to reduce block size from 1MB to 300kb. Without a doubt this will affect BTC prices should it make it as a BIP or as a pull request. Meanwhile, BTC prices are consolidating and could print higher if they race past $3,800.
Bitcoin Price Analysis Fundamentals
There is another twist to the Bitcoin Block size debate. A Bitcoin developer, Luke j, is writing code on the Bitcoin source code in a proposal seeking to further reduce block sizes from 1 MB to 300 Kb. As we know, the topic of block sizing is always contentious drawing criticism and praise in equal measure.
The last time we had a Bitcoin legacy hard fork was at the height of the previous ICO pumped rally when BTC prices were trading at around $8,000 apiece. Proponents of Segwit 2X saw it fit for block sizes to increase from 1MB to 2MB.
After their pitches flopped, Roger Ver and crew formed Bitcoin Cash with the endorsement from Wu Jihan who has since stepped