Bitcoin Hits $3k All Time High As BitcoinCash Plummets

Bitcoin prices have come back fighting since the launch of BitcoinCash as while prices fell to levels of $2700, they’ve come back fighting hitting a new all-time high earlier today. Increasing by 14.4% within the last 24 hours, the markets started their upward climb from 1AM GMT this morning.  With the trading volumes jumping from just under $1Billion, to well over $1.8Billion over the day the support for the bitcoin has increased considerably after the successful locking in of the SegWit proposal which will help the technology scale into the future.

As seen below, the market cap has increased considerably with plenty of interest from investor, as the coin stood the test of time with the launch of BitcoinCash. Analysts consider the current momentum to sustain prices well above this level with some predicting prices to surge to $3300 as figures push the $3270 point on several exchanges including Bitfinex and OKCoin.

Bitcoin high as Bitcoincash crashes

TO conclude, the prices have swung back massively, to the new all-time high of $3216.02.  Witgh the rise of Bitcoin came the downfall of BitcoinCash, as we previously predicted would be heavily dumped. Reflecting the idea many considered the coin simply free money, it has become clear the markets have chosen the BIP91 proposal as the superior scaling solution despite BitcoinCash offering larger block sizes. The markets did enjoy a brief pump which saw prices head to well over $600 but as people started cashing out, prices headed downwards to current levels of $200. It is still possible to cash out your BitcoinCash for pure profit simply by importing your private keys into the wallet, receiving a average of $200 for each bitcoin you own.

Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.

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