Bitcoin recovers after roller coaster ride, exchanges advise caution

Bitcoin and other crypto or virtual currencies have surged the past week after a sharp fall, as a solution to increase the speed of transactions has been agreed upon by miners. The solution is expected to avoid problems and hiccups in trading when it is implemented on August 1. The virtual currency market had begun facing a challenge in bitcoin transaction speed. Following the surge popularity of the currency and the spike in its price, the number of transactions had risen sharply. Since the speed was slowing, giving rise to heavy backlogs, the market was discussing ways to increase the speed. A solution has been agreed to, with the bitcoiner community having welcomed a new mechanism to increase the network's transaction capacity. The battle between the Bitcoin Core and Bitcoin Unlimited camps has stopped with approval of BIP 91. An overwhelming majority of bitcoin miners (via hash power) have signalled their support for SegWit activation under BIP 91 (Bitcoin Improvement Proposal 91). "In effect, bitcoin transaction capacity doubles and we will see twice the number of transactions getting approved," says Sandeep Goenka, operations head, Zebpay, the largest bitcoin exchange in India. "As a measure of precaution, we have advised our investors to transfer their bitcoins to software/hardware wallets where the key lies with them." Astrology and Numerology Trading Tips