Bitcoin has been down since it hit a high on 08/17/17 but has once again turned north and is setting new all time highs.
ProtectingCoin.com had asked this on 08/14/17
“Do we break $4,500 this week or is it time for a pull back under $4,000?”
The pull back to under $4,000 came just 1 week later, on 08/21/17. Now that the pull back has passed, is $5,000 coming by early September?
The gains today are most likely aided by the go-live of SegWit (Segregated Witness) that went active this week on Bitcoin. What is SegWit, you ask? I won’t go into the technical details of SegWit but will sum it up to say it is a more efficient way to process/store transactions on the Bitcoin network. This can increase the speed of transactions over time which will be needed as the popularity of Bitcoin continues to increase. Just how popular is Bitcoin becoming, you ask? Well, recent Google search reports show Bitcoin searches have become more popular than Beyoncé! Pretty sure that is the be all, end all yardstick for measuring popularity.
One thought on “Bitcoin headed North”
Broke $4,500 and right on to $4,600 today. $5,000 by early September is looking like a real possibility.