Bitcoin has hit its all-time high with a value over $3,000 per coin, up by $485 in its value, a month ago. The Bitcoin saw many highs and lows this week with the split of cryptocurrency striking the market on August 1.
The bitcoin has come a long journey this year surpassing the $2,000 mark first time in May and reaching almost $3,000 this June. The price of the digital currency spiked by over 10% following the crash of 30% in the value of newly formed currency from the split, Bitcoin Cash. The currency was being traded over $3,200 in many exchanges including OkCoin of China.
The hike in the price of the cryptocurrency has taken the market cap over $51 billion, as per the data of coinmarketcap.com.
The fork on August 1 resulted in a new currency called Bitcoin Cash, which duplicated the original Bitcoin block chain, which would automatically entitle Bitcoin cash to those who hold Bitcoin
The new currency saw an extremely volatile week with the prices rising to $727 on Wednesday and currently operating at $220.