After the fork, many people expected large swings and instability in the value of Bitcoin, but we didn’t see that.
Instead since August 5th, we’ve seen a steep rise in the value of the currency to over $3500 although has slightly decreased as a result of SegWit.
Yesterday (Tues 8th August), the second method to secure the future of Bitcoin was introduced. SegWit increases the transaction capacity, allowing more transactions to occur with each block. This theoretically should mean that it makes it more viable for companies such as shops to implement, and the decreased frustration of transactions taking hours and even days to process should also bring more people back to the currency.
So, the main question:
Is the $3000+ price here to stay?
Analysts are saying yes. All the media coverage and increased interest regarding Bitcoin appears to have made investors value the currency more, with some predicting it’ll reach $5000 by the end of the year.
Only time will tell for this volatile currency, but rest assured that we will keep you updated!