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| Bitcoin skyrockets into stratosphere smashing $7,000 level | Bitcoin skyrockets into stratosphere smashing $7,000 level |
| (35 minutes later) | |
| The world's most popular digital currency is on a record-breaking marathon. Bitcoin has again attained a new record, jumping over the US$7,000 barrier. | The world's most popular digital currency is on a record-breaking marathon. Bitcoin has again attained a new record, jumping over the US$7,000 barrier. |
| The cryptocurrency has gained nearly 15 percent in just four days. Bitcoin was trading at $7,341.84 at 12:00pm GMT on Thursday with more than 3.8 billion trading volume in the past 24 hours, according to the industry website Coinmarketcap.com. Bitcoin's market value is now $122 billion of the overall cryptocurrencies market cap of $191 billion. | |
| On Wednesday, Bitcoin set a price record over $6,600, after breaking $6,400 earlier in the day. The currency has gained over $700 since, up over ten percent day-to-day. | On Wednesday, Bitcoin set a price record over $6,600, after breaking $6,400 earlier in the day. The currency has gained over $700 since, up over ten percent day-to-day. |
| The unprecedented weekly rally is reportedly fueled by news that the world’s largest futures market operator CME Group is going to launch a cash-settled Bitcoin futures contract this year. The company is reportedly expecting approval from the US Commodity Futures Trading Commission. | The unprecedented weekly rally is reportedly fueled by news that the world’s largest futures market operator CME Group is going to launch a cash-settled Bitcoin futures contract this year. The company is reportedly expecting approval from the US Commodity Futures Trading Commission. |
| The start of a bitcoin futures contract is expected to bring the market more institutional investors, according to the CME Group. | The start of a bitcoin futures contract is expected to bring the market more institutional investors, according to the CME Group. |
| The contract is planned to be cash-settled and be based on the CME CF Bitcoin Reference Rate (BRR), which the company started in November 2016 with London-based digital trading platform Crypto Facilities. | The contract is planned to be cash-settled and be based on the CME CF Bitcoin Reference Rate (BRR), which the company started in November 2016 with London-based digital trading platform Crypto Facilities. |
| According to industry analysts, the step may become a catalyst for the bitcoin to be seen more favorably by regulators. Similarly, bitcoin saw a significant surge after Japanese authorities agreed it could be used as a legal means of payment. | According to industry analysts, the step may become a catalyst for the bitcoin to be seen more favorably by regulators. Similarly, bitcoin saw a significant surge after Japanese authorities agreed it could be used as a legal means of payment. |
| However, volatility continues to plague bitcoin, which saw its price plunge 13 percent last month shortly after one of the biggest exchanges in China announced it was shutting down operation. | However, volatility continues to plague bitcoin, which saw its price plunge 13 percent last month shortly after one of the biggest exchanges in China announced it was shutting down operation. |