The First Newsletter: From Segwit to $10,000
Hello from BTC Weekly News,
Since this is the first newsletter, we will be going back to major updates in the last few months.
Bitcoin was forked into two coins, and a new "Bitcoin Cash" coin was formed. Anyone who owned bitcoin prior to the August 2017 fork now owns both coins. This website considers Bitcoin Cash as an "altcoin" but it is still important to know if you own it.
Segwit activated in August, allowing for more transactions in each block and setting the table for future off-chain scaling. Currently around 11% of transactions are utilizing Segwit.
The controversial Segwit2X hardfork, which would have created another coin, was scheduled for mid-November but was called off due to a lack of support.
This week the dominant story is that Bitcoin has crossed $10,000 on Coinbase, up over 10% on the week. This is a monumental achievement for the currency. This price was once considered "The Moon" by some in Bitcoin. The cause of this price jump was not a piece of specific news about Bitcoin as much as a general bullishness within the crypto markets.