The price of a bitcoin went on a tear on Wednesday in response to news that proponents of a controversial “hard fork” had suspended their plans to create a parallel version of the digital currency.
As of 1:30 p.m. ET, bitcoin was trading near $7,700, which is up nearly 10 percent in the past 24 hours—a big jump even for the notoriously volatile currency.
News that the anticipated bitcoin split had been called came via an email from the leaders of the fork project, which is known as SegWit2X.
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