Bitcoin Pares Gains After Surge to Record Highs on Split Rumours By In

Bitcoin recorded fresh all-time highs on Friday, rising above $8,000 for the first time in its nine-year history amid reports that a group of bitcoin miners plan to move ahead with an upgrade of the bitcoin network which may lead to a split, or “hard fork”.

On the U.S.-based Bitfinex exchange, bitcoin fell to $7,846.5, down $18.5, or 0.24% after rising to an all-time high of $8,040. Bitcoin’s market cap surged to $131 billion.

The latest surge in bitcoin comes on the back of reports that a small group of Bitcoin miners –users who help maintain the system by validating transactions stored in “blocks” on the network – planed to initiate the SegWit2x upgrade of the underlying software supporting bitcoin despite the developers behind the upgrade shelving plans last week…

Read Full: Bitcoin Pares Gains After Surge to Record Highs on Split Rumours By In