Bitcoin extended its gains, breaking a new record as investor’s ignore the split in the cryptocurrency over its future.
The Digital exchange rate went up a notch higher and was found trading with an increase as much as 16 percent compared to Friday’s session. The Digital Currency was seen with and an unprecedented $3,292.41, even after bitcoin’s division last week.
The debate has revolved around how to upgrade its underlying technology, with a group of developers pushing a solution called SegWit2x against miners in which some of whom have created another brand called Bitcoin Cash.
“The miner-orchestrated hard fork has had limited traction and will not impact the price or future development of bitcoin,” said Aurelien Menant, chief executive officer of Gatecoin Ltd
In the middle of the ongoing dispute is an issue that has been long disrupting the development of Bitcoin’s development: as its popularity grew, transactions slowed because of a cap on the amount of data that are processed by the blockchain.
Although there are many problems that are seen in the system, The price of the original bitcoin has still increased, while the price of Bitcoin Cash dove to a devastating 67 percent from its highest peak that was reached last week, this according to CoinMarketCap, bolstering the appeal of its older cousin.
Currently, BitCoin Cash still need to sharpen its tools in comparison to the original asset. The original BitCoin Cash has a capitalization of $4 billion, compared to the original BitCoin’s $53 billion.