CME Group to Launch Bitcoin Futures

03 November, 2017, 01:07 | Author: Manuel Hopkins
  • Where Will Bitcoin Be in 10 Years from Now?

The cryptocurrency has had a week of rallying after CME Group, an American financial market company that operates the world's largest options and futures exchange, announced that it would introduce bitcoin futures contracts on Tuesday.

Strong trajectory caused the currency to fly to a towering $7,066.44 high, having begun the year with just the $1,000 price milestone in its trophy cabinet.

The recent success which is marked the highest ever happened because of the best known and biggest cryptocurrency, Bitcoins hit a new record which was in excess of $6500.

The start of a bitcoin futures contract is expected to bring the market more institutional investors, according to the CME Group. A government panel has reportedly recommended shutting down cryptocurrency dealers operating in the country to put an end to use of cryptocurrencies such as Bitcoin.

Another reason that could explain the market's overwhelming appetite for Bitcoin could be the upcoming update for the software that supports the trading operations for the cryptocurrency.

At the time of writing, the price of Bitcoin managed to hit a new all-time high for the third time in nearly as many days, surpassing the coveted $6,000 mark and peaking at a global average of $6,609.

President Muhammadu Buhari Discloses Plans To Appoint More Minister
The meeting is a prelude to the National Executive Council (NEC) meeting of the party billed for the party secretariat today. He commended the leadership of the National Assembly led by Senate President Bukola Saraki and the Speaker Yakubu Dogara.

We've been working with the regulator. The surges are the major areas of interest to them and so far, bitcoin has been going through plenty of them.

According to Kay van Petersen, a Saxo Bank analyst, in the next decade, each unit of bitcoin will be worth $100,000.

"The BRR has proven to reliably and transparently reflect global bitcoin-dollar trading and has become the price reference of choice for financial institutions, trading firms and data providers worldwide", Schlaefer said.

These are just a few and widely varying, examples of where the bitcoin's value could head to in the next decade.

The total market value of bitcoin right now is topping $189 billion for the first time with Thursday's gains.

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