Bitcoin Hard Fork Looms, Price Steady at $1000

It has been a roller coaster ride for Bitcoin as it was able to hit an all-time high of $1,325.81 on March 10 but then lost a portion its earnings after then made a couple of gains again as the investors ponder on the future of the digital currency which has a value of $1039.91 as of this writing.

Various Factors Weigh In

Several factors have been affecting the value of the cryptocurrency which has been highly volatile over the past few weeks. First, the proposal by the Winklevoss twins Cameron and Tyler for a publicly traded fund based on the digital currency were rejected by the U.S. Securities and Exchange Commission (SEC) due to the lack of regulation. Another major factor is the People’s Bank of China’s decision to disable withdrawal from Bitcoin exchanges as a serious move to regulate the market.

Hard Fork Threats

Rumors on the possibility of a coin-split or ‘hard fork’ has also been another major concern for investors. This means having two separate pools of the currency with the current token currency retaining the BTC token and its spin-off being called as Bitcoin Unlimited having a BTU token.

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