Bitcoin
yesterday gained strength, appreciating in value as it is now worth $5,651,
marking exactly two months after passing the $4,000 value.
The cryptocurrency was able to hit $5,000 in
September 2017 though it lasted for only 10 minutes. Bitcoin experienced a
temporal fall in its value Last month when the Chinese government placed a ban
on ICOs and cryptocurrency exchanges.
Other
cryptocurrencies are also appreciating in value while others cant just keep up
the pace with Bitcoin. Litecoin experienced a 10% increase in value, Ethereum
up by 2% while Ripple experienced a fall of 2%. So far
While it is
still unclear what made the price to gain that much, some hinge their belief on
many Wall Street banks who have suddenly shown cryptocurrency interests and disinterest
at the same time. Financial media like CNBC have been seen talking about
Bitcoins on several occasions as any traditional security.
While most Bitcoin users are happy with the
new value that Bitcoin has attained, some Bitcoin users are worried that the
cryptocurrency is to undergo another hard
fork called SegWit2X at the end
of November.