Bitcoin Volatile Digital Currency Soared to a new high of $4,500 - Movingtrend
The Telegraph - Friday August 18, 2017
Bitcoin a volatile digital currency is continue to grow and find a new high of $45,00 on Thursday. In a 'hard fork' event Bitcoin has split into two and that split divided the online community of this Virtual Currency. After the 'hard fork' event the price of this Cryptocurrency has fallen to around $2700. But now Bitcoin reaches its new high after the 'hard fork' event.
The analysts had expected that the 'hard fork' event will hit the Bitcoin market value but instead of the split Bitcoin reaches all time high from around $2,700.
All digital currencies are better known for their volatility, in June Bitcoin losing around $12bn in market Capitalisation. According to CNBC, Bitcoin fell from around $3,000 to $2,270. But its Rival currency ethereum halved in value between June and July this year from around $300 to $150.
Bitcoin gaining such a peak value of $45,00, it created fears of a new bubble among seasoned investors. Rob Moffat a partner at Balderton Capital told Reuters, "There are no fundamentals behind any of this - it's all based on public perception, so you can start to see some really strange phenomena."
The key miners and developers of the Bitcoin in July is agreed to adopt new way for Cryptocurrency, because technology is open source and with the consensus of the users the changes easily implemented. The new Technology called Segwit2x, it steadily adopted by the key players.
Bitcoin has become the tool of the private anonymous transaction, it is a payment choice for drug deals and other illegal purchases activities. It is money which is free from government control and fees bank charges. Satoshi Nakamoto invented it in 2008 and it went online in 2009. There is lot of attempt to identify Satoshi but all in vain. Now, Bitcoin that’s worth more than gold.
Image Courtesy ALAMY.