Published on November 13th, 2017 | by bitcoin0
Dramatic Sell-off Raises Bitcoin’s value $10 Billion in 12 Hours
Bitcoin’s market capitalization, or the total value of all the virtual coins in circulation, rose over $10 billion in the same time period, according to industry website Coinmarketcap.com.
The bitcoin network was also due to undergo an upgrade called SegWit2x, which was initially planned for November 16.
This happened twice, causing the creation of two new cryptocurrencies: bitcoin cash and bitcoin gold.
Bitcoin cash saw a huge spike as bitcoin sold off with many investors betting that this could be a viable alternative.
Bitcoin cash, however, also lost about half its value, plunging from an all-time high of $2,477.65 on Sunday to $1,277.29 on Monday, according to Coinmarketcap.com.