What Will the "Fork" do to the Price of Bitcoin?

August 1 is an incredibly important date for anybody in the Bitcoin community. On that day, it will be voted on whether or not Bitcoin Cash will be implemented as a potential solution to the slow and expensive Blockchain on which Bitcoin is currently traded.

The problem with Bitcoin under its current conception is that it’s incredibly impractical and nearly impossible to use on a consumer level because of a clunky network and the stigma that still surrounds it.

Bitcoin Cash aims to fix this problem by splitting the funds currently in the market to create a faster more accessible network. The “Fork”, however, is being resisted by many miners in the community who are refusing to upgrade their software.

Because of this unrest among the Bitcoin ranks, there’s been volatility in the market of late and after a banner year, there’s some concern that the price of Bitcoin could tank.

If you have a solid grasp on the Bitcoin market, though, there’s money to be made over at Bovada. The sportsbook is offering a prop on what the price of Bitcoin will end up being after all is said and done on August 1.

What Will the price of Bitcoin be in USD on August 1, 2017 at 11:59 pm EST
  • Under $2000 +1500
  • $2000-$2200 +1000
  • $2201-$2400 +550
  • $2401-$2600 +250
  • $2601-$2800 +225
  • $2801-$3000 +300
  • Over $3000 +900
Odds as of July 31 at Bovada

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After an incredible year in the stock market, the price of Bitcoin has wavered of late and speculation over the cryptocurrency’s potency has arisen after multiple frauds and scandals forced the Securities and Exchange Commission to step in and tighten regulations.

Bovada has released a prop on what the price of Bitcoin will be in U.S. dollars on August 1 and the prevailing opinion is that the currency will remain between $2000 and $2500.

Regulations in the market might lead to the crypto asset finally leveling out after its explosive rise. Tightening the rules could also normalize the relatively new phenomenon and make Bitcoin more accessible to the public.

It’s hard to know what will happen to the market when the SEC steps in but the initial trends are not promising. In the last month, the price of one bitcoin has dropped by 2.7 percent, worrying some holders.

If you have a hunch that the price will move in one direction or the other, though, the payday could be lucrative if you’re up for laying down some of your hard-earned virtual currency.

What Will the price of Bitcoin be in USD on August 1, 2017 at 11:59 pm EST
  • Under $2000 +350
  • $2000-$2500 -150
  • Over $2500 +200
Odds as of July 26 at Bovada