Bitcoin Price Keeps Climbing

The price of Bitcoin recently made one of it’s largest jumps, passing $7000 USD, or gaining close to $1000 in the week’s trading prices. Some of the reasons for the jump are the increased speculation surrounding the upcoming Bitcoin Fork, where users who hold BTC will also be credited with the new forked coin. According to some exchanges, the main coin going forward will be the coin that carries the most mining support or hashrate. This could be a very risky time for traders who are already nervous about where the pricing could go on these coins.

As a result, some traders are moving back into the previously forked coin, Bitcoin Cash, since it will remain unaffected during the upcoming Segwit Fork, and we may see some drastic price changes within the days shortly after the Fork. The upcoming fork is expected to occur around November 16th, and following the fork, traders will have the option to sell their new coins, hold, or buy, and choose to either exit the Bitcoin game, or increase their holdings. Some exchanges may not be supporting the Segwit 2 Fork, so if you want to get your coins, make sure that you have your coins stored somewhere that offers the option to get the new coins.

Let The Discussions Begin!

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: