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What a thrilling week Bitcoin just had, marking two all-time highs – $4,483 on August 15, and $4,520 on August 17, but for better or worse the prices have started to correct. On Friday, Bitcoin price went below $4000 mark, where the thrill actually began.
This sudden downward trend could be attributed to the news about another hard fork fear in November – in turn causing emotional reaction in the market. Although it is still unclear whether split will happen, but the team behind SegWit2x is definitely pushing for it.
On the other side, there is no stopping Bitcoin Cash. The bulls are in full support of BCH – bouncing the price to $855 at the time of writing. That’s a whopping 160% increase in the past two days.
Experts are still bullish on Bitcoin. It looks like $4000 is the new buy wall for the investors. Whether Bitcoin Cash prices continue to rise or not, Bitcoin price will likely see an upward trend very soon.
Interestingly, a legendary Bitcoin trader “masterluc” has predicted the Bitcoin price to reach $15000 by the end of this year itself. This person is famous for making not just one but many right predictions in the past with regards to Bitcoin price.
Top Stories from the Crypto World
1. Ethereum announces Metropolis Hard Fork
The highly anticipated Ethereum hard fork will finally take place in late September.
The new hard fork will come with increasing anonymity, easily programmable smart contracts, high security and a ‘Difficulty-Bomb’ intended to make mining exponentially more difficult.
Why it matters: Ethereum developers have been planning to move from proof-of-work (PoW) to proof-of-stake (PoS) for a while now. This hard fork is a step in that direction. The sole purpose of ‘difficulty bomb’ is to be an intermediate step in the transition from proof-of-work to proof-of-stake on the network.
2. Zcash Foundation Offers $800,000 in New Grants
The non-profit Zcash foundation is offering $80,000 worth of new grants to innovators and technologists for the advancement of the privacy-oriented digital currency Zcash.
Foundation wants the the grants to be used for software development, science and research, and community outreach.
3. Exchanges are not taking SEC lightly
Not long ago, US Securities and Exchange Commission (SEC) came out saying Security laws may apply to token sales. The statements have made ShapeShift to review cryptocurrency listings.
In a blog post, the exchange said that it was launching the review, which could see it delist some of the trading pairs it offers, in a bid to avoid being “mischaracterized as a securities exchange.”
A good thing to know: The SEC has been investigating The DAO, the ethereum-based funding vehicle that raised more than $150 million through a token sale. The agency revealed that those tokens qualify as securities, and that other token sales may fall under this definition as well.