Just seven days after crypto-currency Bitcoin split in two, the market cap has completely regained anything that had been lost since the fork.
The market cap that took the currency space to 113 billion had Bitcoin’s dominance at just over 47 percent. The trading price of Bitcoin Monday morning was at $3238 per Bitcoin.
Gary Cindy Audie, a cryto-currency monitor, notes that, at one point this year, Bitcoin was trading under $1000.
“Is the price going to keep going up, up, up?” Audie asks. “What we’ve seen (so far) is the price going up, then a pull back, the price going up, then a pull back”.
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The split in Bitcoin resulted in a new crypto-currency referred to as Bitcoin Cash. The Bitcoin hard fork went successfully on August 1st as of block 478559 with Bitcoin Cash tradable in few exchanges only. Coinbase, one of the larger of these exchanges, did say it will begin supporting Bitcoin Cash some time next year.
Bitcoin Cash has seen some significant volatility due to less available tradable coins.
Monday’s trading price for Bitcoin (ultimately $3,390.00) turned out to be a historic high.
Bitcoin now accounts for up to 40 percent of transactions of online gambling transactions in so-called “high risk” jurisdictions (those that have some form of banking regulations pertaining to gambling).
- Aaron Goldstein, Gambling911.com