Bitcoin scalability problem

What changes are being considered & what those using bitcoin, mining, electronic “wallets” & other forms of electronic money should know

Bitcoin is a digital phenomenon that has taken the world by storm. Although it has had ups and downs, in terms of its price, 2020 has been a very successful year for Bitcoin. In fact, it's safe to say that it has gained a new burst of popularity among investors.

Bitcoin and other digital currencies have failed to stay at record highs on Thursday. The market has seen a correction with digital coins falling from 17 to 30 percent.

The leader bitcoin plunged to $9,300, losing about $2,000 from record highs. Ethereum lost more than 20 percent and was trading at just above $400.

The world's most popular cryptocurrency has surpassed $8,200 on Monday, setting another record high. Bitcoin is up almost 850 percent this year.

November has been an extremely volatile month for bitcoin. Earlier this month, the digital currency price fell to $5,500 after developers scrapped the SegWit2X update, leading some miners and investors to shift to offshoot bitcoin cash.

Bitcoin hit a fresh all-time high Monday above the ,000 mark after a wild week for the cryptocurrency.

On Monday around 12:25 p.m. London time, it hit a record high of ,121.56, according to data from industry website CoinDesk. Bitcoin first broke the ,000 handle on Sunday.

Bitcoin surged on Monday, recovering more than $1,000 after losing almost a third of its value in less than four days as traders bought back into the volatile cryptocurrency.

Bitcoin tumbled in the second half of last week, falling as low as $5,555 on the Luxembourg-based Bitstamp exchange on Sunday, a slide of almost 30 percent from a record high just shy of $7,900 on Wednesday..