After the price of Bitcoin reached over $3,000 in June, the price began a sharp up and down slope. After reaching a low of under $2,000 for the first time since May, today we see Bitcoin peaking to nearly $2,900 for the first time since the major price drop in mid-July.
This strong price could indicate people’s faith in the upcoming Bitcoin fork going smoothly. Another scenario is due to the fork, everyone is buying Bitcoin before the fork to secure them for future hoarding.
Tomorrow, August 1st, is when the fork is due to occur. Only time will tell how the fork will impact the original Bitcoin and how the new Bitcoin Cash will perform.
Interested in using your Bitcoin before the fork? We’ve created a list for you of several major retailers that are accepting Bitcoin.