It’s been an amazing week for Bitcoin and other cryptocurrencies, following the “hard fork” on 1st August.
Whilst the newly created Bitcoin Cash currency plummeted, Bitcoin itself rose to unprecedented heights, smashing the $4000 psychological barrier. It is currently trading at around $4300 a coin.
Resolving the scaling issue
It seems, the resolution of the scaling problem, which hindered Bitcoin from supporting the increasing number of transactions, and the security that everything is back on track, triggered a renewed investor interest and new buying frenzy from “newbs” who want a piece of the action.
A stronger Bitcoin ecosystem
More importantly, the Bitcoin ecosystem has become stronger as the confidence of investors grows and more and more businesses adopt Bitcoin as a payment method. As reported by Cointelegraph, Bitlish which is a Bitcoin exchange platform announced recently that they plan to have 5000 Bitcoin ATM’s operating across Europe by 2017.
As liquidity slowly increases, there may be many more milestones that Bitcoin is going to reach before being widely adopted. Watch this space!
Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.