Bitcoin price sets new high for 2016

The Bitcoin price is pushing ceilings higher and higher. On April 20th, one Bitcoin was worth just under $436, and the price kept rising ever since. At the time of publishing, Bitcoin price was trading at $459.86, reaching a peak of $470.02 in the early hours of Monday.

 

 

This price is a record for 2016, with it’s highest peak before this week being $438.98. Bitcoin launched the much-awaited code for Segregated Witness (SegWit) last week, and within that week the price of Bitcoin is going from strength to strength.

 

 

The SegWit code is a touted temporary solution for the block size congestion that will help scale block capacity, until a hard fork is implemented. The release of this code is likely to be the main reason why the Bitcoin price has risen that much over the past week.

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