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Bitcoin Remains Close to Record Highs as Rival Bitcoin Cash Sheds 7%

ForexDec 07, 2017 03:01PM ET
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Investing.com – Bitcoin notched yet another record high on Thursday, rising above $15,000 for the first time as investors continued to bet that demand for the popular digital currency will surge with the launch of bitcoin futures expected before year-end.

On the U.S.-based Bitfinex exchange, bitcoin rose to $15,513, up $14.26, or 14.30% after hitting an all-time high of $15,820 earlier in the session. The popular digital currency market cap rose to $273.72 billion.

The optimism in bitcoin comes amid expectations that bitcoin exchange-traded-funds will follow the launch of bitcoin futures, which many believe paves the way for bitcoin to become an established asset class, which would spur institutional demand.

Cboe Global Markets Inc. said Monday it will start trading bitcoin futures on Dec. 10, after receiving the go ahead last week from US futures regulator Commodity Futures Trading Commission (CFTC).

The news comes after CME Group announced last week that it would launch bitcoin futures on Dec. 18.

"We are pleased to bring Bitcoin futures to market after working closely with the CFTC and market participants to design a regulated offering that will provide investors with transparency, price discovery, and risk transfer capabilities," said Terry Duffy, CME Group Chairman and Chief Executive Officer on Friday.

Other cryptocurrencies failed to mirror bitcoin’s move higher as bitcoin cash fell 6.94% to $1,248, while bitcoin gold fell 10.01% to $231.39.

Ethereum, the second largest cryptocurrency by market cap, rose 1.87% to $421.42.

Bitcoin Remains Close to Record Highs as Rival Bitcoin Cash Sheds 7%
 

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