Bitcoin Price Towers above $7000 to Break All Previous Records

bitcoin price all time high 7000 cryptocurrency

There would be little to no doubt in saying that Bitcoins are currently driving the world crazy. If you have not heard of it yet – prepare to be overwhelmed, because the price for Bitcoins has reached an all time high by crossing the $7000 mark. The latest rise, for the most valued cryptocurrency, has not come as a surprise to many; partly because investors have now become accustomed to these regular increases and substantially because Bitcoins are now unanimously considered as the gold standard for all cryptocurrencies. Thus, the rise in the popularity of cryptocurrencies is more often than not replicated in the price of Bitcoins.

Last week has been none other than a marathon run or a roller coaster ride for bitcoins. The value of the coins has jumped by almost 10-15 percent in just the last 4 days. Such is the role of bitcoins in the cryptocurrency market that it now contributes a huge $117 Billion to the ever growing $189 Billion market of cryptocurrencies. While there is nothing that can explain this overwhelming rise, experts have put the onus on the news that two major exchanges located in United States have announced staring Bitcoin Future Contracts.

The CME group, which is currently the world’s largest operator in the future markets, has mentioned that it will provide Bitcoin future contracts by the end of this year and is currently looking forward to an approval from the authorities in the country. The contrast that arises here is that the CME group had rejected any such plans a few months ago, but has been coerced to do so by the huge demands of almost all of their clients.

Although, there are many positives propagating the rise of Bitcoins to the top, the surprise here is that Bitcoins have managed to sustain their progress despite the warnings issued by Securities and Exchange Commission on Initial Coin Offerings, popularly known as ICOs. ICOs, which are a decentralized method of garnering funds for all new coin launches, have been subject to much criticism. The criticism though, has not impeded their progress as ICOs have contributed more than $2 Billion to the cryptocurrency market in this year only.

Understanding Future Bitcoin Trading

Since the rapid rise of Bitcoins owes a lot to futures trading, it is best to understand the concept and how Bitcoin futures will work. As its name suggests, futures allow two parties to fix a mutually agreed date to exchange assets. Futures trading have been around since the 19th century and are now an important part of the financial structure.

The Futures for Bitcoins will not be different than how the market actually operates. Cash settled Bitcoin Futures contract is the most appealing part for traders in Wall Street. Individuals and firms looking to buy Futures for bitcoins would now not even have to hold the cryptocurrency. These settlements in cash will bring the liquidity that most investors crave and will make the cryptocurrency market even more inflated.

 

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