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Fork talk lifts bitcoin to all-time high near $8 000

19 Noviembre 2017

While trolls have trolled trolls and forkers have forked forks, we've bypassed the bitcoin bickering to focus on the news that matters.

The market price of Bitcoin has been volatile in recent weeks following the cancellation of a technical upgrade known as SegWit2x, aimed at increasing transaction speeds.

Monday got off to a glitch-free start as Bitcoin Cash forked smoother than a fresh jar of Skippy. Could mining's very own "flippening" be on the cards, with the world's hashpower migrating from east to west?

Subsequently, after Segwit2x did not succeed, Coinbase re-enabled all Bitcoin services at 06:17 PST.

Meanwhile, bitcoin flirted with $8,000, buoyed by financial app Square adding BTC as a purchase option. Interested parties note that the current software associated with Bitcoin needs to be updated to handle the increased interest and activity in the cryptocurrency market.

"Over 100 hedge funds have been created in the past year exclusively to trade digital currency". Suspension of fork has plummeted down Bitcoins value and has helped its clone Bitcoin cash to progress to new heights which was seen as an alternate investment. The Bitcoin surge occurred as a group of developers attempted to implement the Segwit2x hard-fork of Bitcoin's blockchain. But as the weekend neared, it wasn't just atomic swaps that were blowing up - so were Segwit2x developer Jeff Garzik's Twitter mentions. Moreover, Bitcoin Cash temporarily took center stage, surging to an all-time high of over $2,400 USD, as investors shifted money away from Bitcoin, on November 12.

Bitcoin demand usually surges ahead of an upgrade of the bitcoin network as it tends to lead to a split or so-called hard fork in Bitcoin, creating a new currency which is usually freely distribute to existing holders of bitcoin.

"When we speak with these institutions, they tell us that the number one thing preventing them from getting started is the existence of a digital asset custodian that they can trust to store client funds securely", wrote Armstrong. Forked coins are the new airdrops are the new ICOs.

And that's all we've got time for.

Fork talk lifts bitcoin to all-time high near $8 000