Bitcoin price surge after the August 1 Hard fork and creation of Bitcoin Cash will not stop as in just a night from trading around $3.700 climbed its way to close $4.200 (more precise $4.208) as it all happened after reaching $3.000 for the first time.
Many indicators reflected a possible near future surge upon us by BTC Price as explained in a previous article 5 reasons for it to reach a higher price.
- Almost 2 weeks ago the Blockchain dominating coin Bitcoin did undergo a hard fork and came out as a confident as it always was. Sure, a bitcoin-clone called Bitcoin Cash was created, but it’s gotten a lot less attention than most people expected. A few days later Bitcoin locked in SegWit, a code modification that fixes malleability issues and frees up space in blocks, allowing for more transactions to be stored in each one.
- ICO Gold Rush – mostly short term investors and traders wanted to make quick money with the initial coin offerings becoming early adopters so many had to use fiat currency to by in lets say bitcoin or any other to be part of the offering days and times.
- Wall Street Confidence – if you are following news and blogs around bitcoin, you may have stumbled at least at one report explanation or announcement coming out by one of the traders an analyst with their own opinion as its the next Gold or the best investment end of year asset.
Many are predicting that the price and value will not stop or at least at on point reach $5.000 for the near future and go even higher in the farther reach.
So, even if everything looks good and positive just one thing to keep in mind – never invest more than you can call play-money. The kind of money that you can afford to lose.