The price of bitcoin has reached another all-time high this week touching an average of $6,420 across popular exchanges. The decentralized currency continues to rise upwards this year, the value of one bitcoin has climbed more than 500 percent in 2017.
The Decentralized Cryptocurrency Bitcoin Reaches Another All-Time High
2017 has become bitcoin’s year of consecutive all-time highs (ATH), and the currency’s value hasn’t slowed down yet. At press time, bitcoin traders have swapped over $2B in BTC trade volume over the course of the past 24-hours. Additionally, since the price surpassed the most recent $6,300 ATH, the bitcoin economy has added another $5B to its market capitalization. Since then the price has dropped a bit, and is currently hovering around the $6,320-6,360 range. Many people think that individuals are buying bitcoin at an exponential rate due to the upcoming Segwit2x forks. News.Bitcoin.com spoke with Crypto Compare’s Charles Hayter who believes the expectation of getting a 1:1 Segwit2x payout is driving a lot of demand.
“This has led to the expectation that forks are a good thing as by hiving of fanatical elements progress can be driven forward more swiftly as well as the opportunity for private key holders to have stakes in both chains with their independent policies and tenets,” Hayter tells news.Bitcoin.com.
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