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 who has a love for journalism, history and all things Hip-Hop. She holds a B.A in Critical Race & Gender Theory & a Minor in Journalism. Follow Me on IG @Slausongirl

Check Also

Teen Found Dead on Freeway Speaks To Black Girl Vulnerability in South Central

South Central, Los Angeles–The family of Tioni Theus are asking for answers after the 16-year-old …

Leave a Reply

Your email address will not be published.