Yes, another day and another bitcoin price record. In the past 24 hours, bitcoin saw a huge spike in its price, reaching a maximum value of almost $7,800. The digital currency then saw a massive fall, with the price falling to below $7,300, and at the moment of writing it hovers at around $7,300.
The price behaved like crazy in the past 24 hours, with the price starting to rise at around 16:30 UTC, rising from $7,400 to almost $7,800 in just one hour. After reaching a new record, bitcoin saw a massive fall over the next hour.
The explanation for today’s record price could be in the fact that, even though the upcoming Segwit2x hard fork shouldn’t create new assets, many speculate the fork could, in the end, create free “Segwit2x coins” for those who own bitcoin tokens.
But, at the moment, Segwit2x has low chances of being successfully implemented and managing to update bitcoin blockchain to a new set of rules without creating a new type of asset (“Segwit2x coins”) in the process. At the moment, it seems that the upcoming implementation of the hard fork created a fresh wave of bids, taking the price to the skies, and it the coming days we should see bitcoin reaching new record prices.
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