Bitcoin price: Bitcoin down to $7,200 – Is it a good time to invest in bitcoin?
BITCOIN prices have gone back down to around $7,200 after surging past $7,800 to a new record high yesterday following the decision to call off the Segwit2x upgrade.
After yesterday’s record-breaking rally, Bitcoin prices have dropped down to just below $7,250 as of 10.08am on Thursday November 9.
The rapid spike of around 11 per cent came off the back of the decision to pull the plug on the controversial Segwit2x software update.
The update would have increased bitcoin’s block size to 2MB, but was met with a unanimous lack of support from the crypto community.
Mike Belshe, CEO and co-founder of BitGo, yesterday announced the decision to suspend the update, which would have split bitcoin in two.
He said: “Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together.