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Nov 02

Bitcoin Climbs Higher and Higher

With Bitcoin soaring to $7,152 today it is very likely to reach the $10,000 mark before the end of 2017.  This is very exciting for all investors. I woke to this breaking story from Cyptocoins News.

$7,150: Bitcoin Price Achieves New All-Time High, is $10,000 Possible by 2017

Joseph Young on 02/11/2017
Earlier today, on November 2, the bitcoin price achieved a new all-time high at $7,150, entering the $7,000 region for the first time in history.
In the past three days, the market has shown absolute confidence in the mid-term trend and performance of bitcoin, given the announcement of CME, the largest options exchange in the world, to launch a bitcoin futures exchange by the end of 2017, and the increased probability of the US Securities and Exchange Commission (SEC) approving a bitcoin ETF by mid-2018.

Bitcoin options, derivatives, and futures exchanges will allow investors to allocate “money on the sidelines” to bitcoin and the cryptocurrency market, through strictly regulated channels such as LedgerX and CME’s futures exchange.

Already, the team behind LedgerX revealed that it had processed more than $1 million worth of bitcoin derivatives and futures trades in the first week of its operation, during a period in which the company was not expecting to process minimal volumes of trades to test the system and the exchange.

It is entirely possible that hundreds of billions of dollars could become allocated into bitcoin in the mid-term, at least in the upcoming years, which could allow bitcoin to evolve into a trillion dollar market cap. Evidently, the market has been confident in the mid-term trend of bitcoin, as the bitcoin price surpassed the $7,100 mark this week.

Source: CryptocoinsNews

Featured image from Shutterstock.

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