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Bitcoin Plunges over Risk Digital Currency Will Be Divided

Bitcoin lost around a fifth of its value over the weekend as there is an increasing threat the group of developers behind the digital currency will split in two.

On Sunday, bitcoin stood at $999. It previously traded around $970. The cryptocurrency had traded steadily until the weekend even after US regulators rejected a planned bitcoin-focused exchange-traded fund the week prior.

Developers, entrepreneurs, and exchanges have been embroiled in a sour battle for almost two years over the limit of a block, or the extent of transactions that the bitcoin network should facilitate. As of present, the system can only process blocks of a megabyte.

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