Technology

Bitcoin value surges past $US4,000

Written by techgoth

The price of Bitcoin (BTC) hit yet another record high by breaking past the $US4,000 mark over the weekend, a signal that the recent civil war and currency split did little to slow down its momentum.

After reaching a $US4,000 valuation for the first time at 1am on Sunday, the world’s most funded cryptocurrency was sat at $5,790 Australian at the time of writing, just a week after passing the $US3,000 milestone.

Latest prices courtesy of Coindesk

The digital currency has seen unprecedented growth over recent months, rising over 300% since January, with intermittent price surges that has seen Bitcoin gain as much as $US500 in a matter of days.

This is despite a year which has been otherwise tumultuous for the currency. Months of disagreements between the developers of the platform over solutions to its technical limitations resulted in a split in Bitcoin, from which Bitcoin Core (BTC) – the original – and Bitcoin Cash (BCH) emerged.

It’s never been clear exactly what effect a split may have on Bitcoin’s main platform (BTC), yet it has continued to break records and appears to remain healthy.

Even the breakaway Bitcoin Cash (BCH), which experienced some early depreciations in value, is also experiencing a slight price growth, currently sat at $US304. However, the new platform has yet to return to early highs of around $US700, after a major currency exchange initially refused to support it, before then agreeing to do so only in the new year.


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