Daily Management Review

The price of Bitcoin touches a historic high of $6,450


11/01/2017


The appreciation of the cryptocurrency can largely be attributed to speculations that it is set to enter the financial mainstream.



On Wednesday the price of bitcoins touched its historic zenith of $6,450 on the back of bets that the cryptocurrency is set to enter the financial mainstream following the world’s largest derivatives exchange operator statement on Tuesday that it would launch bitcoin futures.
 
The CME Group Inc has said it would provide a regulated trading venue for the bitcoin and will launch a new derivatives market for the cryptocurrency in the fourth quarter of 2017.
 
2017 has been a bumper year for the Bitcoin with its price appreciating by more than six times.
 
Even in the short run its price has more than doubled since mid-September.
 
On Wednesday, it was up by 0.3% on the Luxembourg-based Bitstamp exchange.
 
References:
reuters.com







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