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Bitcoin Rallying Ahead of the Super Fork, High Volume Expected Coming into the Weekend, Further News on Community Split

July 28, 2017 at 14:11 by Daniel Green

Bitcoin has begun rallying as of late, after hitting a new weekly Bitstamp low of $2,400, just two days prior on July 26 (GMT 15:00). Price movement and existing market volume, suggest that we may soon break past the $2,887.45 weekly high, if current resistance levels at $2,830.84 and $2,935.55 dissipate.

One of the larger bitcoin centric exchanges, BTC-e, collapsed completely. This has once again reaffirmed, that every long term holder of crypto currency, needs to keep a larger percentage of their capital exclusively on hardware wallets.

New details have surfaced in regards to the infamous Mt. Gox hack. Wizsec has started a series of broad articles, covering all of the nooks and crannies on the subject.

Larger exchanges are also preparing for the bitcoin super fork. Understandably, Poloniex and Bittrex, seem to be garnering the most attention from altcoin traders.

Even Coinbase has issued an updated statement, as has Bitstamp.

Furthermore, Bittrex and Yobit have increased the minimum number of required confirmations for all inbound bitcoin transactions. This is stated as a necessity, that serves to increase overall security leading into the fork.

There are likewise, numerous possible Bitcoin fork scenarios on the horizon, which are best illustrated with the diagram below:

Out of all 8360 Bitcoin nodes running, the core client is still dominating at 5465 total, with UASF behind at 1307 nodes, bitcoin unlimited at 854, and the ABC nodes at 190, while the rest are at 162 or less. Coindance has more comprehensive information on the matter, and everything else bicoin related.

Bitstamp’s bitcoin/US dollar pair began trading on July 26 at $2,400 (GMT 15:00). It was the start of an strong rally that finally touched $2,825.14 on July 28 (GMT 11:00). Price is at present, holding close to $2,775.11.

If you have any questions or opinions concerning bitcoin, please feel free to use the form below to reply and/or comment.

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