Bitcoin smashes $15,000 in trading
Some thought $10,000 wouldn't be possible until next year. Some thought it wouldn't be possible at all. After Bitcoin broke the mark at the end of November, it showed just how popular the cryptocurrency had become. Now, the world's number one cryptocurrency is doing it again, breaking the $15,000 barrier to see a 50% gain in less than a month. Bitcoin has now set a new record, tickling a price of $15,242.99.
Bitcoin's popularity continues to turn heads and make people take notice, and the latest increase comes on the heels of two advancements in the cryptocurrency community. Australia's primary equities and derivatives Exchange, ASX, Ltd., announced today that it would implement blockchain technology in the processing of equity transactions. Digital Asset Holdings LLC, a startup created by former JPMorgan Chase banker Blythe Masters, will be supplying the technology to the exchange.
Successful tests of the Lightning Network was recently announced, contributing to the increase in Bitcoin's value. The Lightning Network is designed to reduce congestion on Bitcoin's blockchain network by providing a new method of making payments. Transactions are taken off the blockchain and allow for buyers and sellers to interact privately. The transactions would then subsequently be broadcast on the blockchain's public network. Bitcoin Cash, a rival of Bitcoin created to reduce congestion, saw its price fall by 7.4% following the successful tests of the new network.