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Bitcoin on Monday continued leaping towards record highs, extending its record run-up of about a week since the currency split into two: Bitcoin and Bitcoin Cash.

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A single BTC was up by 3.5% and trading at $3,369.82 – the highest the currency has ever gone since its creation in 2009. The spike took the total market cap of Bitcoin to $55 billion, highest ever in the history of Bitcoin.

A single BTC was up by 3.5% and trading at $3,369.82 – the highest the currency has ever gone since its creation in 2009. The spike took the total market cap of Bitcoin to $55 billion, highest ever in the history of Bitcoin.

A few speculations in market recommend that this rally in Bitcoin is a result of deceptive trading tactics employed by some deep-pocketed investor(s) whose sole intention is to create an illusion that a potential buyer is willing to buy Bitcoin at a grand cost. Consequently, the price is going higher, providing bidders an opportunity to cancel the trade and sell at inflated rates – says The Cointelegraph.

 

Related: Buy Bitcoin online

 

Bitcoin Cash, on the other hand, is down by 57% after initially hitting $727 on August 2.

Bitcoin’s price has surged ever since the occurrence of hard fork on August 1 where a new currency, known as Bitcoin Cash (BCH) was born. BCH is an attempt to solve the processing problems that Bitcoin has been facing over the years due to the increased load of transactions and to take the block size from 1MB to 8MB.

Generally, a large portion of the cryptocurrency-network is going through the same trend in terms of price growth. Ethereum’s token currently went up 0.4%, taking the total value of Ethereum network to $25 billion. Similarly, other cryptos are also on a high.

News and Image Credit: marketwatch.com

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BTC price:

1 BTC = 4151.50000 USD
1 BTC = 3516.06000 EUR
1 BTC = 89.1300000 LTC
1 BTC = 13.9100000 ETH
1 BTC = 471538.2800 JPY
1 BTC = 3196.49000 GBP
1 BTC = 4074.58000 CHF
1 BTC = 5393.05000 AUD
1 BTC = 5435.45000 CAD
1 BTC = 6243.45000 BGN
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