Bitcoin rises to high price level after hard fork

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The price of bitcoin has risen after last week’s hard fork, which created bitcoin cash. The price reached the highest level in its history on Saturday. The price of bitcoin cash shows a slight increase after an initial decline.

On Saturday, the bitcoin price reached the level of about USD 3300, which equates to EUR 2800. This sets another price record after the price rose above $3,000 for the first time in June. At the time of writing, the price is again around 2786 euros. The increase follows the hard fork that launched the cryptocurrency bitcoin cash last Tuesday. The CEO of exchange Gatecoin tells Bloomberg that the development will not affect the price of bitcoin.

He goes on to say that while the approval of SegWit was an important decision for bitcoin, it is not yet certain that doubling the block size with SegWit2x will go through without any problems. Due to the discussion of the scalability of bitcoin, the hard fork to bitcoin cash had come to the fore. After a successful split, the price of the new currency fell sharply, but has recently started to show some growth and the current level is 227 euros.

Bitcoin cash is currently in fourth place when it comes to market value, behind bitcoin, ethereum and ripple. The underlying blockchain uses a larger block size than that of bitcoin, namely 8MB. This should increase the capacity of transactions.

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