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The Price of Bitcoin Hit A New Record High

 

The price of the cryptocurrency has hit a record high of $6,600.84. Its market capitalization, which is the total value of bitcoin in circulation, hit $110 billion.

Fortune Reports:

“Bitcoin just keeps on rising in value. Just more than a week after breaking $6,000 for the first time, the Bitcoin price reached another new high of $6,300 a few days ago, and is now on track to set a new all-time record for the fourth day in a row. As of Wednesday morning, Bitcoin just hit $6,612—and that’s only a few hours after it first crossed the $6,400 mark.”

On Tuesday, U.S.-based exchange CME said it would introduce bitcoin futures contracts this quarter, subject to regulatory approval.

Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency

The introduction of such a product could bring more institutional investors into the market. It’s believed that this is helping to boost the price.

Via MSNBC:

“Favorable regulation has often been a catalyst for the bitcoin price to rise. For example, bitcoin saw a boost when Japanese authorities allowed shops to begin accepting bitcoin as payment earlier this year.”

http://fortune.com/2017/11/01/bitcoin-6600-high-cme-futures/

About slausongirl

Slauson Girl is a South Central native with a love for journalism, history and all things Hip-Hop. She has a degree in Critical Race and Gender Theory along with a minor in Journalism.

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