Bitcoin keeps braking through all the plateaus, at this point should be clear to evryone that bitcoin is set for a bright future, even the most skeptic should see it.
It hit an all time high of $3,525 and afterwords settled at $3,395, as of the time I'm writing this today.
This new record high means over 260 percent year-to-date rise, it is absolutely amazing.
The bitcoin was having problems before the split, and many people. including myself thought that the split will result in a period of turmoil and down trending, before it will stabilize, but as we see it is not the case at all. The fork actually gave bitcoin new life and energy to soar even higher in a short time. This is so exciting, even if it's a bubble, at this point it's obvious that the pull backs are only small side effects compared to increased value overtime.
The split was surprisingly beneficial for Bitcoin, not sure how Bitcoin Cash future will play out, but we surely have a winner, maybe its smaller and newer brother will do good as well, but for now we can see that more gains are on the horizon.
At this time Bitcoin network has gained even more support, the fork promises stable performance improvement that it was so much needed, the reason the fork was applied in the first place. Well, the increase in block size seems to work for now, at least bitcoin not only holds its value, but is being appreciated. So those involved in frequent transactions should expect better speed and lower fees.
Of course in the future, as Bitcoin grows, we shall expect more changes like this to occur, technology is always on the move to support progress.
We are getting closer to a unified Bitcoin official acceptance world wide, and it seems that the recently applied fork is speeding that up, certain Swiss banks have introduced it on their managed assets list, and is not the only cryptocurrency, so we are in the midst of a financial evolution that will eliminate FIAT currency rather sooner than later. With the green light coming from banks, more investors will joining the blockchain, so things are changing rapidly.
The cryptos as a whole are on the rising, with Bitcoin as the crowned king. Very exciting times we are living... and looking forward.
08 August 2017
Marius C.