Cryptos Land: Bitcoin breaks $6000 as Hard Fork looms near

Saturday, 21 October 2017

Bitcoin breaks $6000 as Hard Fork looms near

Bitcoin crossed $6000 as it was expected by several traders to do so. However, the event came in light as the hard fork comes near. This is a very confusing situation as during the previous hard fork Bitcoin price depreciated to about 40%. However, the investors this time are confident and doesn't either give attention or care about the birth of new Altcoin to be known as Bitcoin gold. Major exchanges and wallets hadn't also show any support for Bitcoin Gold except Yobit.

The increasing price has also resulted in big loss for some Altcoin investors as they wait for Bitcoin rally to stop. Due to the price increase the Bitcoin marketcap for the first time have crossed $100 Billion in its history as the Crypto currency continues to go mainstream.

While writing this post Bitcoin was being traded for more than $6100 at various exchanges. The increasing price of Bitcoin has also restored its Market dominance at 58.5% the highest since six months. Bitcoin dominance started to fell in early 2017 and went from 80% to 38% as prices of Altcoins showed a massive increase in their value.

How long will Bitcoin price rally will continue and will the users using several exchanges and wallets get their Bitcoin gold?

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