Bitcoin exceeds $8,000 mark
Cryptocurrency Bitcoin gradually rose to a market value of $8,200 over the weekend after around two weeks of lows.
Bitcoin value steadily went down sometime early November. From $7,000, the cryptocurrency went down as far as $5,800, according to the CoinDesk BitCoin Price Index.
This happened after a supposed hard fork called Segwit2X got cancelled. According to TechCrunch, those who were anticipating the fork pulled out their assets and redistributed them to other cryptocurrencies.
Hard forks are when developers make changes to the cryptocurrency’s programming code, which would create certain incompatibilities in verifying transactions and record-keeping.
After Nov. 12, Bitcoin value gradually started rising again, until it reached its current ceiling.
As of this writing, Bitcoin sits at a market value of $8,201.12 (P416,379). Alfred Bayle/JB
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