Nov. 24 saw the advent of another hard fork spinoff for Bitcoin where the original cryptocurrency has now spawned two derivative 'coins' with the possibility of a third still looming on the sidelines. Yet unlike previous times when there were major selloffs of Bitcoin following a fork and dividend offering, the cryptocurrency jumped over $400 in price Friday to set a new all time high of over $8600.
Bitcoin, the world's most popular cryptocurrency, almost reached $8,500 (now over $8600) on Saturday, setting another record.
Earlier this month, the price of bitcoin fell to $5,500 following the scrapping of the SegWit2X update that made some miners and investors shift to offshoot bitcoin cash.
However, the cryptocurrency returned to growth and surpassed $7,000 on news that the Chicago Mercantile Exchange would start trading futures on the digital currency.
Bitcoin started the year just above $1,000, and the overall growth now is approaching 850 percent. The cryptocurrency's market capitalization has reached $142 billion, making it more valuable than corporations like Siemens, Mastercard, British American Tobacco or McDonald's. - Sputnik News
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