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Bitcoin Price Analysis – Consolidation continues

By InsideBitcoins Aug 4, 2017 2:44 AM EDT

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Bitcoin has continued consolidating near all time highs over the past week, with little price action. Hash rate is also essentially unchanged, while SegWit is on track for lock-in and activation sometime later this month.

All eyes were on the Bitcoin Cash (BCH) fork of Bitcoin, which occurred on August 1st. It’s had a few issues from the start. Initial hash rate was extremely low. BCH still needs several difficulty adjustments before miners are incentivized to switch from any profitable cryptocurrency.

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