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Monday, August 7, 2017

Bitcoin surges above $3K to record, more than tripling this year while 'bitcoin cash' struggles

Bitcoin surges above $3K to record, more than tripling this year while bitcoin cash struggles

Bitcoin leaped more than 16 percent Saturday into record territory, significantly strengthening against its offshoot "bitcoin cash" amid a hack on the new currency's network.


Bitcoin hit an all-time high of $3,360.87 Saturday, according to CoinDesk, before paring its gains slightly to hover near $3,303, with a market capitalization of more than $54 billion.


The digital currency has now more than tripled in value for the year, and gained about 15 percent in the first few days of August. Bitcoin has broken free of the trading range it's held ever since reaching its prior record of $3,025 in mid-June.


Ari Paul, CIO of BlockTower Capital, attributed the gains to a relief rally after a "relatively uneventful" split, as well as new investors buying bitcoin.


Full story at http://cnb.cx/2hBEd3T


Source: CNBC


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