Bitcoin exceeds $20,000

Bitcoin exceeds $20,000

Mubasher: Bitcoin has continued its surges to yet a new all-time record high for the cryptocurrency, hitting 20,000 on Sunday.

This comes after only one month of surpassing the 9,000 level for the first time.

Although the rapid increased were mixed with some sudden declines, the digital currency has in general maintained its upwards trend, supported by massive increases in demand and speculations, despite several warnings of a dangerous asset bubble.

Another factor that helped boost bitcoin was launching trading of its futures a number of American exchanges.

Chicago Board Options Exchange (CBOE) has already launched its bitcoin futures on 10 December.

Similarly, Chicago Mercantile Exchange (CME) will begin trading the cryptocurrency’s futures on Monday 18 December, a move that is set to help drive bitcoin prices even higher.

Nasdaq has also recently announced plans to launch bitcoin futures in 2018.

It is worth noting that bitcoin began 2017 trading near $974, meaning that it prices has increased by around 1,950% this year, with its total market capitalization now nearing a staggering $330 billion.