Bitcoin Price Looks Positive as It Hits the 400 Mark

Bitcoin price just crossed the $400 mark! The digital currency has been struggling between the $370s and $380s for weeks before it could break out of the resistance and surge ahead. The increase in price can be contributed to different factors, starting with people trading their altcoins for bitcoin as altcoin prices are exhibiting a downward trend.

Last week ethereum saw an unprecedented increase in value after the price peaked to an all-time high of 0.0171 BTC per ethereum. Over 60000 BTCs were traded in for ethereum during those days. Once the fresh demand for the cryptocurrency subsided, there was a fall in its price.

The recent Bitcoin Roundtable discussion maybe another reason for the increased confidence in Bitcoin in the past couple of days. There were uncertainties regarding the impending hard-fork of the Bitcoin network as part of Bitcoin Classic adoption. All the bitcoin miners, mining pools, wallet providers, exchanges and other bitcoin-related businesses as part of the Bitcoin Roundtable have now unilaterally rejected the implementation of Bitcoin Classic or any other Bitcoin Improvement Proposal that calls for hard-forking of the Blockchain. Any fear regarding the disruption of Bitcoin services have subsided following this decision and trading is returning to

Read more ... source: TheBitcoinNews