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Bitcoin Hits Record $12000 As Futures Trading Looms

06 December 2017

Increased awareness about bitcoin and other cryptocurrencies is forcing governments and central banks around the world to keep greater eye on transactions using digital currencies while calling for increased regulation.

On the US -based Bitfinex exchange, was at $12,635.00 by 07:51 AM ET (12:51 GMT) after peaking at $12,819.00, the highest level in its nine-year history. In fact, we believe that the bitcoin prices could quite possibly break through the $15,000 region by the end of the month.

The main United States derivatives regulator said on Friday it would allow CME Group Inc and CBOE Global Markets Inc to list Bitcoin futures contracts, opening the door to added regulation.

USA regulators last week cleared the way for Bitcoin futures to trade on major exchanges, including the world's biggest futures centre the Chicago Mercantile Exchange (CME), in news welcomed by analysts. We also have reports that say that some of the exchanges in Japan are also looking into launching futures trading quite soon. For the year, bitcoin is up around 1,000%, having started 2017 at $968.23 and is the biggest gainer of all asset classes this year.

Last week Goldman Sachs CEO Lloyd Blankfein claimed that Bitcoin was "a vehicle to perpetrate fraud" as the value of the cryptocurrency plunged 20% in less than 24 hours.

The controversial cryptocurrency, which has been used to buy everything from a pizza to manicures, touched a new high of US$12,590 in Asian trade before dipping back to US$12,567, according to Bloomberg News.

Bitcoin Hits Record $12000 As Futures Trading Looms