In Count of 2 Days, Bitcoin Value Touch IDR 108 Million

Currency, cryptocurrency bitcoin back strengthened to the highest level, which is almost reached 8,000 US dollars or equivalent about IDR 108 million.

In fact, a few days earlier recorded a decrease of 29 percent who tested the belief in the virtual currency.

Citing Bloomberg, Friday (17/11/2017), bitcoin value strengthened 1.3 percent to touch the position of 7,994 US dollars or equivalent about IDR 107.9 million for 4 consecutive days. Earlier, bitcoin market capitalization had eroded 38 billion dollars after the cancellation of technological improvements earlier this month.

Many reasons are seen as the cause of bitcoin volatility. However, one possible reason is that some investors are turning to alternative coins.

At the same time, the value of bitcoin cash has doubled. Bitcoin cash is another kind of cryptographic currency kind of bitcoin that undergoes technological updates that are debated by developers.

"I think some of the money goes to other crypto assets and to bitcoin," said Spencer Bogart, head of research at Blockchain Capital.

The fundamental difference between bitcoin and bitcoin cash is the block size. A block is an important unit that blocks blockcahin, the core of the crypto currency.

Bitcoin cash offers larger blocks and is capable of storing larger data. That is, the transaction will be faster and cheaper, according to the supporters of bitcoin cash.

This year, the value of bitcoin soared in line with the greater acceptance of this crypto currency as a financial instrument. This comes after CME Group Inc., the world's largest bitcoin transaction market, said it would set up a bitcoin futures exchange.