Since Monday, May 8, the market capitalization of bitcoin has risen over USD 3 billion to USD 29.53 billion. The price of bitcoin has soared 81% since the start of 2017. The price of the digital currency was trading at around USD 1,824 by early morning in London. It breached USD 1,700 for the first time on Tuesday, May 9, 2017.
Meanwhile, within the bitcoin community, there is a significant debate about the future of the technology that underpins bitcoin. Transactions in bitcoin are taking longer than they have done before because of a backlog in the system. Some community members proposed a solution that could have led to a process known as a hard fork, leading to two separate bitcoin currencies. Such concerns have abated however with an alternative solution being put forward.
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