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Bitcoin reaches new record high, surges past $6,400

FutureGizmo · 7 · 3555

FutureGizmo

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From Bloomberg.com:


Bitcoin surges past $6,400


Bitcoin is spiking to a record after CME Group Inc. said it’s planning to launch bitcoin futures as the move could open the floodgates of investors who have been standing on the sidelines as bitcoin soared over 500% this year.

CME Group Inc. is the world's largest futures exchange.

The cryptocurrency jumped as much as 5.2% to $6,416.39 after CME said it will start offering trading the derivatives in the 4th quarter of 2017. Futures will be settled in cash based on a bitcoin index that CME started calculating in November.

The move comes after the Chicago Board Options Exchange said in August it’s exploring bitcoin derivatives opportunities, while the Commodity Futures Trading Commission in July registered cryptocurrency trading platform LedgerX as the first federally regulated cryptocurrency derivatives exchange and clearinghouse.

With bitcoin futures becoming mainstream, the next logical step seems to be a bitcoin exchange-traded fund, as the Securities and Exchange Commission had cited the lack of derivatives as one of the reasons for rejecting approval of the funds.

ETFs and derivatives are likely to make bitcoin trading a lot more palatable for hedge funds and mutual funds, as the instruments will allow them to hedge for the digital asset’s volatility and avoid some of the hassles of investing in bitcoin directly.

Source: https://www.bloomberg.com/news/articles/2017-10-31/bitcoin-futures-could-open-to-floodgates-of-institutional-money


elenagonza

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Reply #1 on: Nov 06, 2017, 07:49 AM
Nothing can stop Bitcoin!!


mierallas

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Reply #2 on: Nov 07, 2017, 12:19 AM
its $7400 now https://www.coingecko.com/en/price_charts/bitcoin/usd
It gone up so much?


advisorymandi

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Reply #3 on: Nov 07, 2017, 08:24 PM
Bitcoin is in trend.!!


Dallashar

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Reply #4 on: Nov 08, 2017, 11:34 AM
I've visited your site and I really appreciate it. I really like your compare feature.


digitalboncio

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Reply #5 on: Mar 17, 2018, 10:18 AM
OMG... what's happening to Bitcoin? it's not stopping to surge... any good sign to see it in upward trend again?


Emilelerne

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Reply #6 on: Oct 20, 2019, 01:33 AM
Yes, really. And I have faced it. Let's discuss this question.


 


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