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Bitcoin Explodes Above $15,000 – Is There A Limit To Its Meteoric Rise?

December 07
15:28 2017

Bitcoin’s stellar run continues with prices leaping one major psychological hurdle after another.

At 11:00 UTC today, the world’s largest cryptocurrency by market value reached a new lifetime high of $15,058, according to CoinDesk’s Bitcoin Price Index (BPI). In the last 24 hours, bitcoin (BTC) has appreciated by more than $2,000. As per CoinMarketCap, gains are close to 19 percent over the same period.

Prices have since dropped back slightly and stand at $14,562 at press time

The primary theory about the astonishing rally being put forward by investors on social media is that bitcoin is pricing in the entry of big institutional money via the introduction of the first BTC futures products.

Both CBOE Global Markets and CME Group are set to launch the new futures contracts on Dec. 10 and Dec. 17, respectively. With the notable shift in the industry, bitcoin may remain well bid at least until Sunday’s listing of BTC futures on the CBOE.

Continue Reading at Coindesk

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