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Ethereum gears up for upgrade as bitcoin hits all-time high

Privacy, anonymity, network scalability, and security are some of the factors that are making investors and supporters excited about the future of Ethereum

Alan Seng | Tech In Asia 

Bitcoin
Bitcoin. Photo: Reuters

Bitcoin is breaking expectations once again as it rocketed past its previous all-time high ($5,000) to reach beyond $5,700 today. The last time bitcoin moved toward this limit was on September 2 this year when it failed to sustain the bullish momentum. The price of bitcoin fell back to about just above $4,500 before the day ended.

Bull run for bitcoin

The reason for this bullish run is the proposed and SegWit2x forks, which are happening later this month. While there was uncertainty the last time such a fork happened for Bitcoin Cash, investors seem to be more opportunistic this time around.

Ether gathering momentum

Ether has been trading sideways since the start of the month, recording a mere 2 percent rise in price. Recent news on government regulations and intervention on have had an effect on its demand.

revolution?

Privacy, anonymity, network scalability, and security are some of the factors that are making investors and supporters excited about the future of This could be where stops being a mere theory or fundraising medium for shady businesses, as the move will promote as a viable and attractive option for enterprise-level adoption. According to Zcash founder Zooko Wilcox, privacy is the main issue holding back.

While the price of ether has already risen by more than 3,600 percent year-to-date, the day when this revolutionary truly matures for mainstream adoption is still ahead of us. Keep your eye on this promising piece of technology; you can only imagine the price of an ether then.

This is an edited excerpt from Tech In Asia. You can read the original article here

First Published: Mon, October 16 2017. 09:16 IST
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