*By Jacqueline Corba* Bitcoin dropped back below $8,000 this week, prompting the cryptocurrency's defenders to explain the seemingly rapid fluctuations (prices fell about $500 on Tuesday). "Probably the biggest thing driving Bitcoin's price where it is today is in fact the 'Bitcoin fork,'" a technical change in the currency's transaction protocol, said Brock Pierce, the Bitcoin Foundation's chairman. "There's uncertainty on what is Bitcoin?" The most recent sell-off comes after Bitcoin hit an eight-week high on July 24. "There was a nice moment there where it felt like we were going from this kind of bear, stagnant market back into a bull state," Pierce said in an interview Thursday on Cheddar's Crypto Craze. "But obviously that was a little premature." Pierce, who started investing in Bitcoin in 2011, said he remains "incredibly bullish" on the digital currency, calling it "Gold 2.0." For more on this story, [click here](https://cheddar.com/videos/crypto-pioneer-brock-pierce-shares-outlook-on-bitcoin).

Share:
More In Business
Sex is a big market for the AI industry. ChatGPT won’t be the first to try to profit from it
OpenAI has announced that ChatGPT will soon engage in "erotica for verified adults." CEO Sam Altman says the company aims to allow more user freedom for adults while setting limits for teens. OpenAI isn't the first to explore sexualized AI, but previous attempts have faced legal and societal challenges. Altman believes OpenAI isn't the "moral police" and wants to differentiate content similar to how Hollywood differentiates R-rated movies. This move could help OpenAI, which is losing money, turn a profit. However, experts express concerns about the impact on real-world relationships and the potential for misuse.
Load More