Bitcoin Is On The Rise, Back Above $7000

Bitcoin is On The Rise

Although it was a whirlwind weekend, it seems that Bitcoin is on the rise. At press time, it is up 10% in just 24 hours and its price is sitting at $7228.11. Starting Friday, the digital coin sat under $7000 up until this morning.

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Source: https://coinmarketcap.com/currencies/bitcoin/#charts

The competitor that gave Bitcoin a run for its money this weekend, Bitcoin Cash, is currently down 8% in the last 24 hours and is sitting at $1227.31.

Many predicted that after this weekend’s events there would be a complete swap of the two and the off-shoot would take over the entire market. It appears the weekend was full of highs and lows but essentially signified nothing.

With such a substantial drop in the cryptocurrency over the weekend, a substantial buying opportunity arose. Investors that took advantage of the price ‘dip’ at around $5,700, saw a 20 percent return in just 72 hours. Further justifying the ever-present bitcoin investing strategy of buying in the dip and then “hold on for dear life.”

The chaos was initiated by the planned upgrade, SegWit2x, being canceled a week ago. Currently, the cryptocurrency remains steady, despite the many bumps in 2017.

Featured Image: twitter

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