Bitcoin hits new high on Thursday

Bitcoin hits new high on Thursday
Bitcoin peaked at an all-time high of over $7000 on Thursday, following an exciting week for the cryptocurrency.

CME Group, the largest derivatives exchange operator in the world, announced that it would launch a Bitcoin futures product before the end of 2017. This news drove the surging cryptocurrency to an all time high of $6,450 on Wednesday. Today, Bitcoin soared again, jumping over $7000 on the Bitstamp exchange. Bitcoin has seen seven-fold price increase this year, doubling since September.

Back in August, the BitCoin Cash spin-off had prompted fears that it would disrupt the persistent rise of the cryptocurrency, but instead its price had risen sharply compared to the USD.

Bitcoin is growing in popularity around the world too. Coinbase, which can be used to trade BitCoin, gets between 35,000 and 50,000 new users per day. It is also in the news more often, most recently due to the interest in Bitcoin on the Korean peninsula as tensions mount.

Source: >Reuters

Written by: James Delahunty @ 2 Nov 2017 12:25
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