World Economy

Bitcoin Surpasses Milestone Price of $3,200

Bitcoin Surpasses Milestone Price of $3,200Bitcoin Surpasses Milestone Price of $3,200

Bitcoin has finally surpassed the $3,000 per BTC average across global exchanges. In fact, it didn’t stop there and touched an all-time high of $3,230 during the start of August 5, reported. The decentralized crypto currency now commands a hefty $51.9 billion market cap while trading platforms are currently seeing intense exchange volumes at $1.6 billion USD/BTC trades over the past 24-hours. Some speculate that the price spike may be due to BIP141 voting period ending and the possibility of activating the protocol Segregated Witness (Segwit). Currently, a vast quantity of the network’s hash rate is directing its efforts towards this plan as the first half of the “New York Agreement” otherwise known as Segwit2x. At the moment, there are 621 blocks left until Segwit goes live on the Bitcoin network. The second half of the agreement entails activating a 2MB hard fork on the network roughly 3 months after the activation. The digital asset bitcoin has come a long way since the first issuance of bitcoins were released into the wild on January 3, 2009. Now there are 16.4 million BTC in circulation, and the crypto currency is more popular than ever.

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