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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.
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
On Monday, crypto assets stood still…
On Friday, the evergreen buck went down versus other currencies after weaker than anticipated inflation data because market participants worried that the key US bank could decelerate rate lifts…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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