Bitcoin prolonged its upward trajectory and printed yet another record high just shy of $ 8000 mark, up nearly 11% on the day. The move was backed by reports of a Segregated Witness (SegWit2x) upgrade being canceled.
SegWit2x is a technology upgrade that was scheduled later this week, threatened to disrupt the biggest cryptocurrency.
As Bloomberg reports, “SegWit2x’s goal was to double Bitcoin’s block size to two megabytes, which in practice increases speed and reduces fees. While most miners and many businesses supported the change, many of Bitcoin’s core developers opposed it.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.