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| VIEW EVENT INFORMATION: Bitcoin |
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Bitcoin Price Hits $7,000 For The First Time |
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Status: Available Now!
Type: News
Date: Thursday 2 November 2017, 12:00 AM
Media: Mashable
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About the organization Bitcoin:
Type: Business
Sub-Types: Website, Money Transferring Agent, Computer Software, Digital Currency, Cryptocurrency |
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Notable Organizations: Bitcoin, Mashable
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| Bitcoin isn't showing signs of stopping.
The cryptocurrency hit the price of $7,000 per one bitcoin early on Thursday, just weeks after it surpassed $6,000 for the first time.
The rally has been incredible — after briefly hitting a low of around $3,000 on Sept. 14, Bitcoin has been breaking through all-time-highs. In October, the cryptocurrency's market cap — the value of all bitcoins currently in existence — exceeded $100 billion for the first time. Right now, it's at $117 billion.
It's tough to pinpoint exactly what has prompted this latest price increase. This week's news that the world's largest futures exchange CME plans to launch Bitcoin futures this year certainly helped.
And there's the anticipation of another Bitcoin fork that's due to happen roughly on Nov. 16. Around that time, Bitcoin software will be upgraded with Segwit2x, which should increase the block size in Bitcoin's blockchain, thus ideally making the network faster.
However, while the last couple of forks went very well for Bitcoin owners — essentially, everyone that owned Bitcoin at the time of fork received the same amount of a new currency — the Segwit2x fork might be different. |
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