A Wild Weekend for Bitcoin

Bitcoin was sold off over the weekend and dropped low $6,000. 



After the cryptocurrency hit the low of $5,511 on Sunday, it has risen more than $1,000 to $6,554 since then.  The sell-off on the weekend appeared to be related to the cancellation of the planned upgrade to the bitcoin network.

The bitcoin network was due for an upgrade, which was initially planned for November 16.  The upgrade could have increased the transaction speed; however, the support for the upgrade waned, which caused the developers to cancel the planned upgrade.

Just 5 days ago, bitcoin hit a record high of $7,879.06 because CME annunced its plan to offer bitcoin futures contracts.





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