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Monday, March 27, 2017

Who's Buying Bitcoin? Demand Persists Amid Fork Fears


In spite of speculation the bitcoin network could split into two separate blockchains, demand for the digital currency continued to remain strong during today's trading session.

The digital currency has mostly been trading north of $1,000 today, dipping below but rebounding shortly after, according to the CoinDesk Bitcoin Price Index (BPI). Further, volumes at two of the world's largest exchanges, Bitfinex and Kraken, were robust, with figures charting higher than the 30-day average.

Yet, given the possibility that the network could see significant turbulence in the event of technical schism, some market observers were left openly wondering why bitcoin prices were still high.

At the time of report, bitcoin was trading at $1,005.29, 20% below its all-time high, but up 142% year-over-year.

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