- October 14, 2017
- Posted by: Bitcoin Center NYC
- Category: The Latest Bitcoin News
Whether it makes sense or not, the upcoming hard fork that is expected next month may be boosting Bitcoin’s price.
In August, before the last hard fork that Bitcoin experienced, the price shot up to almost $5,000 before the fork, reaching all time highs and reached more all time highs afterwards as well. The same seems to be happening already, even though the fork isn’t expected to happen until next month.
What is a hard fork?
A hard fork occurs when there is a completely new chain that is created due to major protocol differences. These differences may be upgrades, in the case of the last fork in August, as well as an entity creating a new cryptocurrency in the case of CLAMS, Bitcoin Cash, or the other countless Bitcoin Clones.
What’s for certain is that the chain with the most hashing power, and the largest amount of Bitcoiners behind it is the one that will be called Bitcoin, whether that be the 2x chain, or the current one that is already being mined.