Italians Defy SegWit2x Fork as Deadline Nears, Bitcoin Volatility Due

Expert group BHB Network has released its formal opposition to the SegWit2x hard fork on behalf of the Italian Bitcoin community.

In a blog post Tuesday, a widened selection of local businesses and private entities “reaffirmed” its stance, originally presented at a recent Bitcoin Milan Meetup.

These include several other Italian meetups from the still relatively unknown part of the cryptocurrency ecosystem.

Like its bigger counterparts in Korea and South America, however, Italy’s naysayers produced strongly-worded criticism of all Bitcoin hard forks.

“With the present document, other important members of the Italian Bitcoin community decided to share the same position, reaffirming their complete opposition to every attempt to change the Bitcoin protocol in a rushed, irresponsible and contentious way, political in its nature and without any technological motivation.”

Despite the increasingly polarized community stance on SegWit2x, the new chain’s futures have so far managed to avoid the fate of fellow fork Bitcoin Gold, which immediately sank to a fraction of its initial value.

At press time, 2x futures traded around $1,200, up 15 percent in line with Bitcoin’s price surge taking it over $6,500. Bitcoin Gold futures, on the other hand, are still circling $150.

2x is still slated to cause price volatility on the Core chain this month, with analyst Tone Vays predicting a temporary downturn as far back as $5,000 before corrections upwards.