The proposed split later this month is definitely a major factor that is pushing the Bitcoin price up. As at the time of this writing, the Bitcoin price has almost reached $5000. Going by about $500 added to its price in two days this week, reaching the $5000 all time high seems like nothing but just a step.
However, while that seems like good news for many Bitcoin enthusiasts, those in the altcoin camp are not really happy. Or so it seems.
Though the head of an altcoin whose volume recorded a spike at the same time differs, many people have been panic selling their altcoins for Bitcoin reportedly for the Bitcoin Gold and Segwit2x forks.
ADK’s Ricardo Badoer notes that credible altcoin projects need not worry every time the Bitcoin price rises. He adds that the ability of an altcoin to apply the right strategy in their business approach should be key to always give them a clear picture of what they want and how to work towards it.
Full story at http://bit.ly/2i5pY89
Source: CoinTelegraph
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