Bitcoin price hits new record highs as good news buoys investor confidence

Bitcoin surges $8000 amid speculation of Segwit2x fork

SegWit2x Hard Fork Fails to Gain Traction as Network Remains at a Standstill

The recent military coup in Zimbabwe has made the bitcoin more precious as in such crisis people turn to gold and cryptocurrencies to move their money out in fear of further depreciation of their currency. On, Satoshi Nakamoto Institute's Daniel Krawisz filed an erudite piece on bitcoin leaders, we deduced the true energy cost of a bitcoin transaction and welcomed reporter Cindy Wang into the fold. At the same time, bitcoin cash, the three-month-old cryptocurrency cousin of bitcoin, also quadrupled in value overnight.

Three months ago, a hard fork resulted in the development of bitcoin cash. There has already been one hard fork. Super Bitcoin was the subject of her maiden piece; and forked coins were to become a recurring motif as the week developed.

Subsequently, after Segwit2x did not succeed, Coinbase re-enabled all Bitcoin services at 06:17 PST. This was followed, days later, with a piece on hyperbitcoinization - the notion that bitcoin adoption could cause radical demonetization as fiat currencies lose their value. The fact that cash has continued to increase in value while the original Bitcoin isn't making the same kind of gains indicates that there may be problems in the community that could present issues in the future.

Nonetheless, it is a distinct possibility that investors moved toward the newer iteration of the leading cryptocurrency in response to the news of the hard fork's cancellation.

Nevertheless, since November 12, Bitcoin has defiantly struggled to keep its price above $5,500 USD, and after gathering its strength, Bitcoin has again punctured new price highs.

According to a post on Medium by Coinbase Chief Executive Officer Brian Armstrong, the new service will be limited to investors with at least the equivalent of $10 million in bitcoin, and it will charge a $100,000 setup fee. Coinbase halted bitcoin withdrawals as the Segwit 2x fork loomed on the off-chance that any wantaway miners decided to press ahead.

And that's all we've got time for.

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