Bitcoin price Crosses $3000
In the aftermath of a complete rollercoaster week signifying the long awaited hard fork of Bitcoin on August 1, 2017 spectrum, Bitcoin has reached a record high with per coin valuation of $3200, at the time of publishing this article.
In Indian Markets too, Bitcoin price crossed INR 2,00,000 on leading Bitcoin Exchanges like Zebpay and Unocoin.
According to statistics released by popular cryptocurrency exchanges like Kraken and Coinbase, a single Bitcoin is presently valued by $485 more than its highest figures reached last month. Bitcoin had a great year in term of growth in value. After crossing the $2000 mark in May, Bitcoin almost touched the magical figure of $3000 in June. This was followed by a big crash only to be back in form post hard fork.
The value of Bitcoin has hiked up by 10% in the last twelve hours following the crash in the value of the new cryptocurrency Bitcoin cash by almost 30%. Exchanges like China’s OkCoin have valued the traditional form of Bitcoin at $3200 presently. According to statistics shared by Coinmarketcap.com, presently the market capitalization of Bitcoin is more than $50 million with 48% market dominance in cryptocurrency market.
Cryptocurrency users were having second thoughts about the value of Bitcoin after the new form of cryptocurrency gets launched. Various exchanges like Coinbase did not initially listed Bitcoin Cash leading a large bevy of customers in shifting their digital balance to other secured wallets. This forced Coinbase to bring a paradigm change in its decision and express support towards Bitcoin Cash although the trading date is yet to be disclosed by Coinbase officials.
The first week of Bitcoin Cash has been highly volatile. It started out with a value of $555 per coin, peaking up to $727 on Wednesday before tumbling down to $220. Market experts are highly skeptical about the performance of Bitcoin Cash in the long run.
However Bitcoin Cash can have a bright future if it manages to attract adequate developers and companies in future. What the future holds is highly unclear but our good old Bitcoin has emerged as the winner hands down in the past week.
KryptoMoney.com publishes latest news and articles about Bitcoin, Cryptocurrencies and Blockchain Technology.