Bitcoin
has reached a new record high, surging 10 percent, and was trading at
$7,888 on the Bitstamp exchange Wednesday after a controversial
update to the cryptocurrency’s software was suspended.
The
bitcoin rate dipped briefly Tuesday, falling below $7,000 due to
uncertainty over a new code proposal, Segwit2x, which could have
create a competing cryptocurrency, Bitcoin2x.
But
after reports emerged Wednesday that Segwit2x had been suspended, the
cryptocurrency resumed its surge, swiftly beating its previous record
high of $7,601 and reaching $7,888.
“Our
goal has always been a smooth upgrade for Bitcoin. Although we
strongly believe in the need for a larger blocksize, there is
something we believe is even more important: keeping the community
together,” the developers of the Segwit2x upgrade said in an
emailed statement, cited by Forbes magazine.
“Unfortunately,
it is clear that we have not built sufficient consensus for a clean
blocksize upgrade at this time. Continuing on the current path could
divide the community and be a setback to Bitcoin’s growth. This was
never the goal of Segwit2x. We are suspending our plans for the
upcoming 2MB upgrade," it read.
Those
who signed the statement included Mike Belshe, CEO of Bitcoin
security company BitGo; Wences Casares, CEO of Bitcoin vault company
Xapo; Jihan Wu, CEO of mining equipment manufacturer Bitmain; Jeff
Garzik, CEO of blockchain enterprise company Bloq; Peter Smith, CEO
of Bitcoin wallet and data company Blockchain; and Erik Voorhees, CEO
of crypto-to-crypto exchange Shapeshift.
Goldman
Sachs experts predicted that Bitcoin prices will consolidate near the
$8,000 mark for some time before continuing its surge, the
CoinTelegraph reported.
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