The most famous cryptocurrency in the world, of course, Bitcoin continues its upward rally. Now the price of this famous cryptocurrency has recently passed at the end of 2017 the threshold of $6,700 for the first time in three years.
Bitcoin Price Jumps Above $6,700 For The First Time
Bitcoin, the largest cryptocurrency, is controlled by computer algorithms and not central banks, unlike conventional currencies. Its defenders applaud its traceability and critics argue that it is a route for money laundering and fraud.
If you remember, in the month of September, Bitcoin the digital currency suffered a significant fall. Almost 40% in just two weeks, from about $5,000 to around $3,000. Well, just a few days ago we have also seen Bitcoin beating its historical record above the $5,200. Even, before that, a few days ago, the cryptocurrency reached the value of $6,000 for the first time in the history.
However, now the largest cryptocurrency bitcoin marked a new maximum record. The most popular cryptocurrency market stood at $6,704.02 per unit.
This renders into a market capitalization of more than 110,000 million, raising the dominant share of Bitcoin in the total limit of the cryptocurrency market to just under 60 percent. In the year, bitcoin’s performance is close to 600 percent.
The largest cryptocurrency Bitcoin’s price had already reached a new resistance on Sunday, crossing the threshold of $6,300, and CME Group provided Bitcoin with the momentum it needed to continue climbing.
The Chicago Mercantile Exchange (CME) announced on Tuesday its intention to launch a bitcoin price index before the end of the year.
“Given the growing interest that emerging cryptocurrency markets are having among customers, we have decided to introduce a new bitcoin futures index,” said CME President and CEO Terry Duffy.
Well, Cryptocurrencies are extremely volatile, so these reports are risky and exaggerated. Cryptocurrencies are no stranger to fluctuations in prices. So, what do you think about this? Share your views and thoughts in the comment section below.