Bitcoin price: Bitcoin smashes through $7,000 for the first time — will bubble burst?

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On the statement that CME will introduce futures, Bitcoin has soared this week to new highs.

CME, the delighted’s largest futures exchange, has announced plans to launch bitcoin futures in the fourth board pending regulatory review.

“Given increasing client interest in the evolving cryptocurrency buys, we have decided to introduce a bitcoin futures contract,” Terry Duffy, CME Batch chairman and CEO, said in a statement.

The futures would be settled via cash and based on its CME CF bitcoin direction rate.

According to data from CoinDesk, the currency eached an all-time exalted of $7,242.69 at about 7:08 a.m. ET.

Bitcoin price: Bitcoin soared past $7000GETTY

Bitcoin price: Bitcoin floated past $7000

Bitcoin smashes past its highest levelBloomberg

Bitcoin smashes past its highest level

The jerk in price is a rise by more than 7 percent.

Charles Hayter, CEO of cryptocurrency balancing website Crypto Compare, told CNBC: «This is bitcoin span the divide from the wild west of finance to the mainstream

«Futures from an mandatory exchange bring bitcoin and cryptocurrencies into the regulatory fold. This authorizes more complex financial products to be created and will eventually spacious the doors to institutional money.»

“It is simply remarkable how resilient bitcoin has been in the superficially of significant negativity,” said Lukman Otunuga, a research analyst at ForexTime yesterday.

“The reward action suggests that bulls have a very firm apprehension.”

More to follow…

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