$13000 and Rising - The Price of Bitcoin Continues to Climb

Cornelia Mascio
Dicembre 7, 2017

Bitcoin's recent price Just before a Coindesk article went to press the price of bitcoin peaked at an astonishing $12,798 well on its way to another thousand dollar leap from $12,000 to $13,000.

In late November, as bitcoin brushed passed $10,000, one expert told IBTimes UK the rise was bolstered by news from U.S. derivatives operator CME Group that it was planning to launch Bitcoin futures contracts later this year - giving investors a safer way to short the currency.

Bitcoin hits fresh highs, as global markets sink. The low today was $11,670 so the record represents a gain of $1,128 in less than 24 hours.

Bitcoin, which is up nearly 1300% this year, was more than halfway toward eclipsing $13000 by late morning, a 7.7% increase on the day, according to the research website CoinDesk.

According to Coinbase, the one-year change in bitcoin's value is +1421.64%, which means that the currency was worth around $800 last year. CBOE, TD Ameritrade, and Ally Invest will also be rolling out Bitcoin futures trading this month and NASDAQ will follow suit sometime in the first half of 2018. Its market cap is now at $219.6 billion.

Bitcoin broke above the $12,000 mark Wednesday morning Asia-time, as the cryptocurrency continued its march higher. This latest price surge comes at a watershed moment in Bitcoin's history, as it is seeing a marked increase in both interest and acceptance, especially in the financial sector. This development will open bitcoin to a wider range of investors who will be able to trade bitcoin futures.

Bitcoin has suffered a series of steep drops during its epic rally this year, giving investors jarring reminders of its extreme volatility.

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