The price of bitcoin exceeds $ 7,000

Bitcoin is going through an explosive journey today. The quintessential cryptocurrency has spent the entire day experiencing huge increases in value. In fact, its price at the time this news was written has already exceeded $ 7, 000. In some moments the virtual currency has been placed at 7, 300 dollars in value. What has caused this rise?

Bitcoin price exceeds $ 7, 000

CME Group, owner of the Chicago Mercantile Exchange and Chicago Board of Trade announced something of enormous importance this week. During the fourth quarter of the year they plan to start trading Bitcoin futures contracts. A news that has been a huge boost for the cryptocurrency. In addition to serving to gain the trust of the market.

Bitcoin continues to grow

The decision of CME, a group of enormous importance in the American market, is seen by many as a sign of confidence in the future of the cryptocurrency. Also, Bitcoin would play in the same league as coins, metals like gold, or agricultural products like corn. So it seems that this is a clear sign of legitimacy for the virtual currency.

C ME has announced that they are launching this contract with Bitcoin given the increasing interest from their clients in the cryptocurrency market. A market that throughout 2017 has experienced enormous growth. In fact, so far this year, the quintessential cryptocurrency has already risen 600% in value this year. Seeing the evolution it is having today, this percentage will surely continue to increase.

The past few months have been difficult for Bitcoin. Markets like China and Russia are trying to ban and boycott its use. Something that has greatly affected their value and caused many to question their long-term survival. Also many companies and banks have been against virtual currencies. But, it seems that despite all these criticisms, Bitcoin is here to stay.

Via Spiegel