Bitcoin prices have surged dramatically over the past week with prices surging to a peak of $2956 on some exchanges. The BIP91 has all but been secured as compliance is near 100%, the future of the network has all but been secured as the blockchain looks to scale up. 7 Days to go till the transition finally occurs, many have been purchasing Bitcoin as peaked at just over $2.5 Billion within 24 hours earlier this week.
As seen in graphs below prices have remained stable for the latter part of this week as August 1 slowly approaches. Considering the impact a hardfork threatened earlier this month, which saw prices drop to well below the $1900 figure, the current support, seems to be having the opposite effect. Across all exchanges prices have exceeded the $2710 figure, at the time of writing. Bitcoin prices in South Africa have also exploded as of recently hitting well over the 100 000 Rand mark, as many have realized Bitcoin markets remain unaffected while property values and securities are much more unreliable investment mediums.
To conclude, prices are set to drift at the $2750 range till august the 1, with many analysts suggesting shorting opportunities should be taken advantage off. No significant drop in prices is expected for the rest of this week, you can take advantage of the small daily spikes in prices to make quick profit. As some have predicted process are set to increase dramatically if the transitions is smooth as the network will better be able to serve a larger number of investors. Prices are set to hit over the $3000 figure as support for the viability of the coin as a currency increases.
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