Bitcoin trades over $3,700, bitcoin cash at $330

Markets 8/12/2017, 1:50 PM
Bitcoin trades over $3,700, bitcoin cash at $330

Bitcoin continued to notch record-highs following the SegWit lock-in as it surpassed the $3,700 mark on Saturday. The SegWit software update to Bitcoin's blockchain, which was designed to help solve the cryptocurrency's scaling issue, locked in on Wednesday after reaching the necessary threshold of 1,916 blocks to begin the process. 

The SegWit activation is set to take place in about two-weeks time, while the upgrade which should increase the size of the virtual currency's block size to two megabytes is due to be completed in three months.

After hitting hit an all-time high of $3,786.20 earlier in the day, bitcoin rose 2.86% against the dollar to sell for $3,746 at 1:44 pm CET. The world's most widespread cryptocurrency climbed over 15% in the past week and surged 57% over the last month. Meanwhile, bitcoin cash gained 1.07% to sell for $329.01 at 2:16 pm CET. The spin-off currency of BItcoin was created on August 1 and everyone whio owned bitcoins, received the same amount of bitcoin cash.

TeleTrader Newsroom / NP

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