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Bitcoin price crossed $3400 on Monday registering a new record high three days in a row. Post-fork excitement shows no sign of pulling back, just yet. At the time of writing Bitcoin price comfortably sits at $3386. If analysts are to be believed, this rally may continue but price correction is due in the near future.
It is likely that once all the Bitcoin users have decided what to do with their BCH (hold or dump that is), we will know the right price of Bitcoin. Many exchanges are still in the process of crediting Bitcoin Cash into their users’ accounts.
Notably, Coinbase will only hand out BCH to its users next year. Meanwhile BCH price is showed some signs of recovery in the past couple of days after crashing to below $250. At the time of writing BCH price is at $322.
Top Stories from the Crypto World
1. China to use blockchain to collect taxes and send invoices
Chinese government has listed ‘blockchain’ in its “Thirteenth Five-Year” National Informatization Plan from 2015. Since then the country has been working to incorporate the technology into daily life. The government recently announced that it will use blockchain technology for social taxation and issuing electronic invoices.
2. Charlie Lee admits Litecoin is “boring”
Charlie Lee, founder of Litecoin, is one of the most honest developers out there hands down. He is always open to discussions with public. Analysts have been saying, if Bitcoin is gold, Litecoin is silver. Litecoin activated SegWit way before well before Bitcoin did. It is quick and can be used to buy coffee at low to no fees.
In the latest tweet, Lee said, “Litecoin is boring and will slowly but surely moon. Have patience.”
3. Indian Finance Ministry wants to discourage the use of cryptocurrencies
A panel create by the India’s Finance Ministry has reportedly recommended that the government take urgent steps to discontinue or discourage the use of cryptocurrencies including Bitcoin in the country.
The panel also proposed that the government should regulate any commercial establishments and intermediaries if they continue using the digital currencies.