Oct 26

Bitcoin Rebound

After an early week slump, Bitcoin rose nearly $500 today with a jump to $5,948. I believe the hard fork was responsible to the slump.  Lets see what Samburaj Das has to say in his latest post on Cryptocoins News

It has been a day of gains for bitcoin price in Thursday’s trading as price struck $5,848 following a sharp spike before midday (UTC).

Bitcoin prices slipped this week following the Bitcoin Gold hard fork, leading to a sell-off by traders to stake their bets on altcoins. However, a lack of support for the new cryptocurrency has seen traders flock back to bitcoin with prices recovering after a week-long slump which saw price strike a low of $5,365 (Bitfinex) yesterday.

On Thursday, bitcoin price has continued its climb to reach a high of $5,848 at press time, gaining $483 from its lowest level yesterday.


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>