Bitcoin price rally continues as a new split approaches

Bitcoin price jumped on Wednesday after the developers called off the upcoming hard fork. The world’s largest cryptocurrency hit a fresh record high of $7,848.31 on Wednesday, according to industry website CoinDesk. The controversial software upgrade called SegWit2x, which would have split bitcoin in two, is expected to take effect in mid-November.

A group of SegWit2x leaders said they decided to suspend the upgrade due to concerns of a setback to Bitcoin’s growth. The SegWit2x leaders said in an email: “Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time.

Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x.” Global Payout, Inc. (OTC: GOHE), Digatrade Financial Corp. (OTC: DIGAF), Global Arena Holding, Inc. (OTC: GAHC), BTCS Inc. (OTC: BTCS), Bitcoin Services, Inc. (OTC: BTSC).

Bitcoin gave up its gains on Thursday and was traded at $7162.89. The digital currency has gained over 600 percent this year, bringing its market value of about 119 billion. According to Business Insider, Goldman Sachs technical analyst Sheba Jafari believed that the bitcoin could get close to $8,000. He said in a note on Monday: “This break indicated potential for an impulsive advance, one that could reach at least 7,941. This is the minimum target for a 3rd of 5-waves up and should therefore be a level from which to watch for signs of a consolidation.”

Global Payout, Inc. (OTC: GOHE) announced yesterday that, “Its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) continues to make significant headway with Pegasus Fintech, Inc. on their joint collaboration in the development of a cryptocurrency token that is being developed for the cannabis industry.

Last month, MTRAC announced the establishment of a strategic partnership with Pegasus Fintech, Inc., an innovative Blockchain and Token Accelerator company that is focused on delivering solutions in the financial services, technology blockchain and emerging cryptocurrency market sectors. In recent weeks, each of the companies’ technology teams have devoted much of their time and resources to the development of the cryptocurrency token they intend to introduce to the cannabis industry, an industry that remains underserved from a financial technology perspective.

The anticipated development of the token will allow for a Public Initial Blockchain Offering (“PIBCO”) to be launched and should provide MoneyTrac with an effective avenue for raising the funds necessary to bring their digital currency to market. It will also provide investors and venture capitalists with a unique opportunity, through a regulatory compliant program, to capitalize on one of the fastest growing market sectors in the U.S. today.” (PR Newswire)