Bitcoin blasts past $7000 to reach another record high in 2017

03 Ноября, 2017, 01:09 | Author: Lester Mason
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At the time of writing, the price of Bitcoin managed to hit a new all-time high for the third time in nearly as many days, surpassing the coveted $6,000 mark and peaking at a global average of $6,609. The cryptocurrency, which has surged more than sevenfold this year, peaked above $7,000 threshold following the Chicago-based venue's announcement.

The latest surge in bitcoin, which has now risen in value by an incredible 800% in the last 12 months seems to have been driven by the news on Tuesday that the CME Group, the world's largest derivative exchange operator, intends to launch bitcoin futures trading in the fourth quarter of the year. Unfortunately, such a device isn't now available, so the chance of seeing where Bitcoin will be in the next 10 years is not possible. The concern of true believers is that absorbing bitcoin into the global financial system would destroy its value.

Bitcoin's incredible march continues in 2017 after the cryptocurrency broke $7,000 per coin for the first time.

Читайте также: Trevor Siemian's job in jeopardy

Despite the gains this year and so many loving the cryptocurrency, bitcoin also has some spectics, including JPMorgan CEO Jamie Dimon and Larry Fink, the CEO of Blackrock. The report suggests that Chinese regulators believe that Bitcoin might become a potential threat to the central bank of China, as it could potentially replace the official currency Yuan in daily transactions of citizens. Just like gold futures, Bitcoin is looking to enter the same market all thanks to the CME Group.

Editor's Note: Since this article was published, bitcoin prices have changed dramatically. China, South Korea, Russia, and Vietnam have already emplaced stringent restrictions on digital currencies, with many hoping that China will return. Their reported market value is now as much as that of Goldman Sachs and Morgan Stanley evaluated together. This is not entirely surprising, especially not with a few big dips along the way after setting this new all-time high.

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