BITCOIN SURGES PAST $3,500 AS RALLY CONTINUES
Bitcoin surged to all-time highs on Friday, as investors remained optimistic about Bitcoin’s future amid bullish comments from analysts.
On the U.S.-based Bitfinex exchange, bitcoin rose to $3,525.9, up $109.7 or 3.21%, surging past its previous all-time high of $3482.9.
Sentiment on Bitcoin turned positive, following last week’s ‘hard fork’ which split the blockchain supporting bitcoin into two, creating a rival digital currency called Bitcoin Cash, as analysts continued to talk up the prospect of cryptocurrencies.
“Whether or not you believe in the merit of investing in cryptocurrencies (you know who you are), real dollars are at work here and warrant watching.” Goldman Sachs (NYSE:GS) noted in its question-and-answer report focused on cryptocurrencies.
Bitcoin Cash followed Bitcoin’s move higher, rising 13.44% to $329.53.
Bitcoin Cash seeks to increase bitcoin’s block size to eight megabytes whereas SegWit short for “segregated witness” proposes to move some of the data outside of the main bitcoin network to speed up transactions.
SegWit, seen as a milestone for Bitcoin, is expected to be implemented within two weeks.
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