DIGEST BITCOIN BREAKS RECORDS

Updated: 11/03/2017 13:37
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bitcoin breaks records
See the latest digest on the hottest news from the Bitcoin market, learn about the record price growth, expectation of SegWit2x, altcoins trends
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See the latest digest on the hottest news from the Bitcoin market, learn about the record price growth, expectation of SegWit2x, altcoins trends

During last five days Bitcoin price grew by a thousand dollars, the news of CME on the launch of bitcoin futures raised the crypto currency to 7 thousand dollars in price, in Zimbabwe bitcoin is valued at more than 12K dollars, ReMeChain will create a special platform for conducting trade transactions with metals, The first cryptomat appeared in Vilnius, Bitcoin Cash is waiting for hardfork already this month.

Bitcoin added $ 1000 Within 5 Days

Over the past five days, Bitkoin has added almost a fifth of its value, it seems that investors are indifferent to the prospects of hardfork in mid-November.

Hardfork is unlikely to create problems for Bitcoin

SegWit2x or the Bitkoyn network hardfork has been accompanied by a lively discussion. Unlike the fork that led to the existence of Bitcoin Cash (BCH), market participants did not bother with the latest SegWit protocol for one simple reason: they do not believe that it will challenge the original bitcoin.

The experience of BCH inspired investors with a certain amount of skepticism. That's why Bitcoin Gold was adopted without any enthusiasm. Developers, investors and analysts agreed that none of these protocols could significantly outperform bitcoin.

The next fork of Bitcoin will take place or begin on November 16. Given the mood of the miners, investors do not have to worry about which of the two coins will be called the original bitcoin. In other words, the question of what kind of fork will be supported by the majority is not worth it.

What investors can expect is a quick surge of the newly formed asset, accompanied by a sharp drop and a long period of instability. At least that was the case with the last two forks.

Like other forks, SegWit2x is a phenomenon that has caused controversy in the community of blockbuster: how to increase the network to provide more transactions. Bitcoin's ability to accommodate more transactions is the basis for accepting it as a legitimate method of payment. To date, the speed of the bitcoin transaction should not be reduced to be considered a viable payment method that can replace credit cards or debit transactions.

Price levels BTC / USD

The last Bitcoin rally challenged logic, the currency went beyond technical indicators. On Thursday, BTC / USD reached a high of $ 6,905, which has already become a new record high. A simple calculation allows you to determine the current level of market capitalization of bitcoins as $ 115 billion (and now by the time of publishing the article the capitalization is close to $200 billion).

Bitcoin Cash (BCH) also rose in price, gaining a 22% increase overnight to $550. This is the highest since early September. This growth ensured BCH return to the third place in the list of Crypto-currency.

Altcoins miss the chance

Massive Bitcoin upward trend could not shred from the universe of altcoins. According to CoinMarketCap, Ethereum, Ripple, Litecoin, Dash, Neo and NEM declined by at least 3.5%.


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