Cashing in on bitcoin rally finds bids above $2,700

Investors in the most highly tracked cryptocurrency were in profit taking mode on Sunday after on July 27 valuations rose to the highest level in more than five weeks. The bitcoin was trading slightly north of $2,700, looking to stabilize in the range as miners have locked engineer James Hilliard's Bitcoin Improvement Proposal 91 (BIP 91) in the latest development in the scaling debate. The solution may resolve the SegWit issue at least in the immediate future.

One coin bought $2,727, trading at 4.14% in the red for the day at 2:49 pm CET. The bitcoin's rate against the euro dipped 3.74% to 2,335.26, while versus the Chinese yuan it edged 2.5% down to 18,329.28.

Baha Breaking News (BBN) / IT