Bitcoin jumped on Thursday to its maximum price in just about four weeks as cryptocurrency developers appeared to come more rapidly to an agreement which would prevent the cryptocurrency from splitting.
According to CoinDesk, Bitcoin has gone high more than 15% to $2675.67 which is its maximum level since June 25. As of July 20, the cryptocurrency traded near $2648. It is high about 4% for July and more than 170% higher for the year.
Bitcoin Performance Chart of Three Months:
Image Source: CoinDesk
Developers should have to settle on “activating an upgrade” which is known as SegWit (Segregated Witness) by 1st of August in order to prevent the cryptocurrency from splitting or forking. According to GDAX exchange of Coinbase, if the currency split, it might pause the trading of Bitcoin.
According to Ari Paul, the chief information officer of Block Tower Capital, Bitcoin is assembling largely because the activation probability of SegWit is increasing as more miners signaling that they will activate it. There is no need to agree all the miners, but at least 80% should agree.
As the prices are going higher, the interest is also increasing in the cryptocurrency world from Wall Street. Forbes stated on Tuesday that Bitcoin is the main asset of the investor Bill Miller’s hedge fund.
Rise in Ethereum Price:
The TradingView charts of Coinbase data shows that Ethereum also jumped more than 18%, to nearly $230, which is its highest since Tuesday. Ethereum rushed below $200 over the weekend.
This rise in Ethereum came as the hackers stole over $30 million in Ethereum from wallets because of security flaws. Earlier in the week, hackers stole over $7 million by hacking the initial coin offering for CoinDash.
Story Source: CNBC.com