The price of bitcoin across global exchanges hit $2,833 today, the highest figure observed since July 23.
The five-day high comes amid what has been largely a week of stability in the price of the digital asset against the dollar. Bitcoin prices fell to a seven-day low of $2,433 on Wednesday, but have traded as high as $2,889 as recently as July 21.
Still, the fluctuations come ahead of what could emerge as a turbulent time for the price.
While bitcoin’s long-raging scaling debate may soon reach a conclusion of sorts (with the integration of the Segregated Witness now scheduled for early August), it’s not going to be without twists.
For one, the cryptocurrency is about to see the first large-scale fork of its live blockchain, with some miners and businesses vowing to create a separate project called Bitcoin Cash.
Already trading at $300 (though it hasn’t been released), it’s hard to say exactly how the move may impact prices.
Still, if the project does come to pass, those on either side of the debate may now be able to more easily move the market in their preferred direction, potentially leaving the door open for volatility ahead.Source: CoinDesk