Saturday, November 25, 2017

Bitcoin price soars to new all-time high of over $8600 following Friday's hard fork and Bitcoin Diamond spinoff

Nov. 24 saw the advent of another hard fork spinoff for Bitcoin where the original cryptocurrency has now spawned two derivative 'coins' with the possibility of a third still looming on the sidelines.  Yet unlike previous times when there were major selloffs of Bitcoin following a fork and dividend offering, the cryptocurrency jumped over $400 in price Friday to set a new all time high of over $8600.

Bitcoin, the world's most popular cryptocurrency, almost reached $8,500 (now over $8600) on Saturday, setting another record.  
Earlier this month, the price of bitcoin fell to $5,500 following the scrapping of the SegWit2X update that made some miners and investors shift to offshoot bitcoin cash. 
However, the cryptocurrency returned to growth and surpassed $7,000 on news that the Chicago Mercantile Exchange would start trading futures on the digital currency. 
Bitcoin started the year just above $1,000, and the overall growth now is approaching 850 percent. The cryptocurrency's market capitalization has reached $142 billion, making it more valuable than corporations like Siemens, Mastercard, British American Tobacco or McDonald's. – Sputnik News


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