The first and largest by capitalization cryptocurrency in the world came close to the price of $5,000 on the eve of the coming hard fork.

The bitcoin exchange rate has reached the $4,900 level several times, but so far it has not been able to reach the psychological mark of $5,000. As of 11 October, 10.00 UTC, bitcoin is trading at $4,800. The capitalization of bitcoin is almost $80 billion.

Traders are actively transferring their assets from altcoins to bitcoin. According to CoinMarketCap, the share of bitcoin in the total capitalization of cryptocurrencies increased to 51.7%.

The growth in demand for bitcoin may be due to the expectation of a new hard fork in the bitcoin network and the appearance of Bitcoin Gold. Crypto-enthusiasts expect that, as in the case with Bitcoin Cash in August, all bitcoin holders will receive other tokens of the new chain, thereby their assets may increase. The hard fork and appearance of Bitcoin Gold is scheduled for 25 October. Its main mission is to provide access to the mining activity for more players, to democratize the mining market, in which the main role is played nowadays by Chinese pools.

The main technical difference of Bitcoin Gold from the traditional bitcoin is that instead of Proof-of-Work (PoW), it is planned to implement the Equihash algorithm, which is used in the Zcash network. This will make mining of bitcoins more profitable even when using conventional computers with video cards.

In November, another hard fork may take place in the bitcoin network, SegWit2x. It is aimed at increasing the network bandwidth.