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Thursday, March 23, 2017

Bitcoin is roaring back

Bitcoin is roaring back

Bitcoin is higher for a second straight day on Tuesday, trading up 3% at $1072 per coin as of 7:28 a.m. ET. The tw0-day win streak has tacked on about 13% and follows a Wall Street Journal report out over the weekend suggesting the cryptocurrency's developers are threatening to set up a "hard fork," or alternative marketplace for Bitcoin. That platform would be incompatible with the current platform, thus creating a split and two versions of the currency. That news sent bitcoin crashing 20% over the weekend to about $950 a coin, its weakest since January.

2017 has been a volatile year for the cryptocurrency.

It gained 20% in the first week of the year after soaring 120% in 2016 to become the top-performing currency for the second year in a row.

Bitcoin then crashed 35% on news that China was going to consider clamping down on trading.

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