$10 billion in just 12 hours

in #bitcoin • 6 years ago

On Monday day Bitcoin rallied more than 11 percent in just over half a day.

According CoinDesk, The digital currency started trading at $5,857.32 on Monday and rose to $6,545.20 by 11:50 a.m. GMT (6:50 a.m. ET). This marks a nearly 12 percent increase in the price.

Bitcoin Photo.jpg

According to ndustry website Coinmarketcap.com, Bitcoin's market capitalization, or the total value of all the virtual coins in circulation, rose over $10 billion in the same time period.

Last week, bitcoin hit a record high of $7,879.06 that was attributed to factors including CME Group announcing plans to offer bitcoin futures contracts, and some favorable regulation in countries like Japan, which has legalized bitcoin as a method of payment.

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The bitcoin network was also due to undergo an upgrade called SegWit2x, which was initially planned for November 16. Its aim was to increase the transactions speed of the bitcoin network. But support for the upgrade has waned causing developers to call off its planned implementation.

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6 years ago in #bitcoin by
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