BITCOIN PEAKS AGAIN ON LUX-BASED BITSTAMP

The virtual currency bitcoin has reached another record high in Luxembourg trading.

It ended at $7,450.32, after peaking at $7,490.00, on Wednesday, according to Bitstamp’s website.

Bitcoin crossed the $7,000 mark on the Luxembourg-based exchange last week, after the world’s largest futures exchange said it would launch a market for the cryptocurrency later this year.

This week’s rise was due to an announcement that developers in the “SegWit2x” project would not split bitcoin into two parallel currencies, the Reuters news agency reported.

Reuters wrote that:

“SegWit2x is an agreement among high-profile figures in the bitcoin world aimed at upgrading the bitcoin network’s capacity. It received significant support when it was announced in May but many bitcoin developers had withdrawn support for the upgrade over the last few months, analysts said.”
The indefinite postponement of the so-called “fork” pushed up bitcoin by 3% on 8 November, Reuters stated.

Bitstamp’s site showed bitcoin worth roughly $700 in November 2016, around $1,700 in May 2017 and $3,400 in August.