Topic: [2017-08-08] Bitcoin breaks through $3,500 to hit fresh record high, now up 264% (Read 3274 times)

Indeed, people tend to cash out if bitcoin reach a certain point such as $3500 and will do it again at $4000.
Why not? Because bitcoin price is very tempting for anyone who has invested before, and there is nothing we can do about it, consider this fluctuation as a normal behavior in cryptocurrency environment. But, don't worry about it, because sooner or later, bitcoin will stay on $4000 as the base.

Segwit will help in increasing the use cases of Bitcoin because of low fees. More merchants and vendors will come forward and start accepting Bitcoin. This will automatically lead to increase in demand and so the price.
How can you advise people to invest in BCH which doesn't seem to have a future. There are many potential altcoins in the market which are backed by some solid projects which are perfect for diversifying investment.

Bitcoin will reach 4k soon

My memories about coming of August the 1st is still fresh. I can admit that I also started to worry being pressed all this negative predictions. But bitcoin just raised and the price has broken all it's previous records. Honestly I didn't expect to see the price much higher than 2000$ this year. I have made a conclusion that the price getting double year by year. But it seems even 5000$ for bitcoin during this year it is not something unreal.

Nope. I don't trust Bitcoin Cash. I heard that the Bitcoin is more profitable to mine right now when compared to Bitcoin Cash, and this might mean that the BCC prices may increase in the future. But I have always remained loyal to BTC. No intention to shift to BCC right now.

BCC or BCH is a babble and there is nothing to expect from it besides future fall and getting lost among other shitcoins. But HODL HODL is the best idea that will help to all of us to see such high prices.

Firstly, the Segwit lock-in was already priced in. Segwit2x requires miners to signal BIP141 support, so the lock-in was, and is nothing interesting. It was going to happen, guaranteed. Secondly, the lock-in on its own won't do much. If miners still signal BIP141 all the way till the next difficulty adjustment, Segwit will finally activate. In that regard, expect the price to peak a few days before, or directly after activation. Currently, extremely short term speaking (7 days or so), there is not much more to gain.

It could be that we have a new mental barrier. $3500. Well we have seen this before, remember when we touched $3000 the first time? Investors started to push the sell button so its just like hours only when we officially touched it then the dumping started. I think this is similar to what we are seeing right now. But stay calm and I'm sure that once we touch $3500 again, it will be sustainable and we will experience a new steam going to $4000.


Yep. In crypto world, patience is a virtue. You need a lots of it to be successful specially in trading as well. Still a lot of time for bitcoin to surged to $5000 or even $10000  this year. The price is still strong if you are going to asked me. Just a few days ago we didn't even hit $3000 and now at $3300 you can't get asked for a better price after the Aug 1 split.

be patient it will çross $5000 or maybe $10000, the growth still in healthy growth, just hodl and hodl..or you can devirsifie your coiñ to bcc if you trust bcc

It was disappointing. After the BIP 141 lock in, I thought that we will cross the $4,000 mark during this run itself. But after hitting the $3,500 per coin mark, a major correction followed and now the prices are back to $3,300 per coin.

With Segwit lock-in, only way for bitcoin is really soar in the next coming days. It might get to $4000 is there are enough bulls to push the price into this barrier. No one has actually thought that bitcoin can reached $3500 just days after the dreaded Aug 1 split. Its amazing how it can recover from so much speculation before. Saying that bitcoin could die after the split and other doubts and uncertainty. And now bitcoin once again soaring so the FUD has died down a bit. I don't know if there are other markets that has a 264% increase year to year besides bitcoin. The price could go to the moon in the next coming months so the increase could go up to 300%.

Bitcoin breaks through $3,500 to hit fresh record high, now up 264% this year


The bitcoin community appears to have resolved the in fighting over the future of the cryptocurrency.
Vyacheslav Prokofyev | TASS | Getty Images
The bitcoin community appears to have resolved the in fighting over the future of the cryptocurrency.

Bitcoin broke through the $3,500 mark for the first time on Tuesday hitting a fresh record high as uncertainty over the future of the cryptocurrency subsided.

The digital currency hit an-all time high of $3,525.04 before pulling back to around $3,481 early on Tuesday.

Bitcoin's record high marks a 264 percent year-to-date rise and comes after months of infighting in the cryptocurrency world.

Within the bitcoin community, a so-called "scaling debate" has been going on. There is a big backlog of transactions on the bitcoin blockchain — the technology that underpins the cryptocurrency.

The debate was over the way in which the capacity of the blockchain could be increased to speed up the capability of the bitcoin network. Major infighting within the community took place which led to two separate proposals on how to expand the blockchain.

Because of the two separate proposals, a "fork" took place which split the blockchain at the end of July. A new digital currency called Bitcoin Cash was created. Bitcoin Cash's market cap is just under a tenth of bitcoin's.

The majority of the community backed a software upgrade called BIP 91, which would introduce something known as SegWit2X to the blockchain. SegWit is short for "segregated witness" which would move some of the data outside the main bitcoin network to increase its capacity. This was received negatively by some miners because it would lead to fewer fees for them.

But miners have accepted the BIP 91 proposal which would increase the block size and the SegWit is set to be implemented today.

"Segwit activates this afternoon and there is a lot of hope that the network will unclog with lower transaction fees becoming the new normal," Charles Hayter, CEO of London-based digital currency data firm CryptoCompare, told CNBC by email.

"The SegWit activation opens up projects that bring some capability to the bitcoin network. Instead of bitcoin being held back by infighting, it is now blue skies of opportunity in what can be built."

Once the SegWit is locked in on Tuesday, there will be a two-week grace period to allow miners to upgrade their software. But the feeling is that the worst of the fighting is over.

At the same time, more regulators are continuing to make positive noises around the digital currency. In Switzerland for example, the financial market regulator gave Zurich-based Falcon Private Bank the green light on managing assets based on the blockchain technology behind bitcoin and other digital currencies.

All of these factors are likely to push the price of bitcoin higher this year, experts said.

"Given the technology's move towards scalability, more institutional investors are now considering to allocate funds to bitcoin, which may be exciting the market," Aurelien Menant, CEO of the Gatecoin cryptocurrency exchange, told CNBC by email on Tuesday.

https://www.cnbc.com/2017/08/08/bitcoin-price-hits-3500-record-high.html