Tuesday, October 16, 2018

© Reuters.  Bitcoin steady, Ethereum up 2% after Byzantium hard fork © Reuters. Bitcoin steady, Ethereum up 2% after Byzantium hard fork

Investing.com – The price of the digital currency bitcoin was steady on Monday, holding below Sunday’s record high, while Ethereum was higher after a hard fork on its blockchain was implemented without incident.

On the U.S.-based Bitfinex exchange, Bitcoin was trading at $5,708.60 by 07:10 AM ET (11:10 AM GMT), having opened at $5,712.20.

Bitcoin hit a high of $5,876.90 on Sunday, the highest level in its nine year history, before pulling back slightly.

Since falling below $3,000 in mid-September bitcoin has increased in value by more than 75% in four weeks and at current prices, bitcoin has a total market capitalization of around $95 billion.

The price of bitcoin offshoot Bitcoin Cash was modestly higher. It was last at $315.64, having opened at $314.66.

Bitcoin cash has a total market cap of around $5.2 billion at current prices, making it the fourth most valuable cryptocurrency.

Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was last up 2.33% to $344.88.

Prices gained ground after the Byzantium hard fork was enacted, implementing a number of improvement protocols designed to improve the platform. Byzantium is part of a planned package of improvements that has been in development since 2015.

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