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Bitcoin price surpasses $1,100 mark

Bitcoin price increases are showing no signs of slowing down, with the price increasing past the $1,100 mark. This is an unprecedented increase and is close to smashing it’s highest limit on record. This is very interesting happening in the new year, and the price is showing no signs of slowing down at the moment.

With many Chinese investors using the currency as a safe haven and increased demand all round is increasing the price and value of the digital currency. Many other altcoins have also increased in price, including Litecoin and Ethereum at the same time. This is likely due to increased support in the Cryptocurrency industry.

This makes the start of 2017 a good year for Bitcoin and Cryptocurrency all around. Even CryptoCurrency such as Litecoin will be seen to have it’s place, with Litecoin gaining the ability to support payment channels with the support of segwit, which will enable lightning networks to be deployed on Litecoin.

Bitcoin however still needs to solve the 1MB block size issue, as this could hamper further adoption. It is likely that Bitcoin will ultimately deploy Segwit, but they are watching Litecoin closely to see when this will happen.

Anyone who bought and held coins will be pleased with their increase in value, it is proving more profitable than mining in most ventures, it will be interesting to see where it goes from here, will will update as more information becomes available.