HTML Article – Bitcoin Price October 2017 (A87f1c2)

Price Today Soars Above $5000 To Record High

This Bitcoin and United States Dollar convertor is up to date with exchange rates from October 20, 2017. @cycler , agree regarding 2x hardfork presenting challenges. On top of this, we will be due for a return to the long-term trend line around the time of the hardfork Nov. 18. At that time the long-term trend line will be at sub $3k. So puttining all these pieces together, I can see as plausible $6k-$4k-$5k-$3k, and then, barring any serious issues like a split of the Bitcoin community into two competing forks, upward movement through next bull cycle.

To make the verification (mining) costly, the verification algorithm requires a lot of processing power and thus electricity. In fact, the website Digiconomist has constructed a Bitcoin Energy Consumption Index , estimating bitcoin energy consumption. And the results are sobering. At the time of writing, verifying one transaction on the bitcoin blockchain consumes about 200kWh. price october 2017

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