Bitcoin edges up to fresh record maximums past $4,200

Bitcoin edges up to fresh record maximums past $4,200

On Monday, the price of the digital currency Bitcoin went up above the $4,200 value for the first time in its nine-year history.

Bitcoin reached a maximum of $4,233.0 on the US-based Bitfinex exchange. Last it traded at $4,211.4, soaring $152.1 or about 3.75%.

Bitcoin has managed to quadruple or even more in value in 2017, and it has gained approximately 47% in August.

The given currency has ascended to a series of record maximums in recent trading sessions amid optimism that faster transactions times are going to speed up the overall spread of the cryptocurrency.

The previous week fresh software dubbed SegWit or Segregated Witness was adopted by the blockchain supporting Bitcoin. It’s considered to be  a milestone for the cryptocurrency.

The given software was created as a solution to the cryptocurrency’s scaling issue that provoked a split also known as ‘hard fork’ on August 1 when the blockchain backing Bitcoin suddently split into two, generating Bitcoin Cash.

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