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This article was published on November 15, 2017

Bitcoin surges past the $7,000 barrier again

Bitcoin surges past the $7,000 barrier again
Mix
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Mix

Former TNW Writer

Mix is a tech writer based in Amsterdam that loves cinema and probably hates the movies that you like. Tell him everything you despise about Mix is a tech writer based in Amsterdam that loves cinema and probably hates the movies that you like. Tell him everything you despise about his work on Twitter.

Less than two weeks after Bitcoin broke the $7,500 barrier to hit an all-time high of $7,700, the popular cryptocurrency has yet again surged past the $7,000 mark.

Despite a bumpy week which saw Bitcoin price drop to below $6,000 at one point, the cryptocurrency fluctuated around the $6,500 mark, until earlier today it passed the $7,000 threshold for the second time ever.

Here are a couple of screenshots from Coin Market Cap that will give you a better idea how Bitcoin has fluctuated over the past seven days:

In case you were wondering, the sudden jump in value amounts to an almost 10-percent increase in the last week, according to Coin Market Cap.

The cryptocurrency was slated for a controversial software update, designed to increase the blocksize,  and, in the process, split the Bitcoin chain in two separate entities, creating two independent currencies.

However, facing a heated backlash from the cryptocommunity, the so-called Segwit2X update was eventually suspended for an indefinite period of time.

Meanwhile, Goldman Sachs Vice President Sheba Jafari last week speculated that the popular crpytocurrency will consolidate at around $7,941 until it eventually climbs up over $8,000.

Until then, I hope you got to score some Bitcoin on the low during last week’s dip – if not, better aim to catch the next one.

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