Home News Bitcoin beats $11,000 mark, rises over $3,000 in 7 days

Bitcoin beats $11,000 mark, rises over $3,000 in 7 days

by adminV
Cryptocurrencies
Bitcoin

Bitcoin

Investors who bought Bitcoin just ahead of Thanksgiving certainly have something to be thankful for. Bitcoin prices breached $11,300 Wednesday for the first time, representing a rise of over $3,100 in a week.

It’s a stunning rise for the cryptocurrency, which only just broke the psychologically important milestone of $10,000 hours earlier—despite financial heavyweights voicing their concerns about an asset with limited regulatory clarity, Fortune said.

But several major governments, including the US, have signalled a willingness to regulate the cryptocurrency space rather than outright ban it. Meanwhile, institutional investors have also been jumping onto the bandwagon, with the Chicago Mercantile Exchange saying that due to client demand, it would launch Bitcoin futures by the end of 2017.

Then on Wednesday, the Wall Street Journal reported that both Nasdaq and Cantor Fitzgerald are looking to launch Bitcoin derivatives. A futures market for Bitcoin would likely usher in more institutional investors, adding more liquidity — and potentially stability — to the cryptocurrency market.

 

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Harold Jahn Edmonton November 27, 2020 - 8:35 pm

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