Bitcoin blasts past $7000 to reach another record high in 2017

Bitcoin Isn’t “Too Expensive”

Bitcoin Isn’t “Too Expensive”

The decision came after Bitcoin hit record highs this week after CME Group, operator of the world's largest futures and options exchange, said it plans to introduce bitcoin futures by the end of the year.

So with bitcoin illustrating a new level of maturity, where can we expect to see the cryptocurrency in the next 10 years?

"Given increasing client interest in the evolving cryptocurrency markets, we have chose to introduce a bitcoin futures contract", said Terry Duffy, CME Group Chairman and Chief Executive Officer. Speculation on the future of bitcoin drove its price to a record high of $7,034.14 on Thursday, Nov. 2, at 6 p.m. EDT.

For a broad swath of the American public, cryptocurrencies such as bitcoin and Ethereum are now household names.

Sony's AI Robot Dog Aibo Is Back
Sony eventually neutered Aibo production facilities in 2006, leading to an exodus of robotics and AI expertise. The new robots will be priced at 198,000 yen (about $1,737), not including tax.

Another reason that could explain the market's overwhelming appetite for Bitcoin could be the upcoming update for the software that supports the trading operations for the cryptocurrency. Many cryptocurrency investors are feeling euphoric since the cryptocurrency market hit a total valuation of over $188 billion for the first time ever. The fact that the digital currency is widely used around the world either as a trading asset or as a payment choice indicates its usability and growing dominance. According to the Chicago Mercantile Exchange, the whole Bitcoin futures contracts are expected to be settled on and will be strongly based on the CME CF Bitcoin Reference Rate or the BRR.

The value of digital currency Bitcoin has increased sevenfold since the beginning of the year. Moreover, such a step suggests that Bitcoin may become an officially recognized currency. That, however, is not stopping many from speculating where they believe the currency will be. The bitcoin spot market has also grown to trade roughly $1.5 billion in notional value each day.

According to a poll conducted by the CNBC broadcaster, almost half of some 23,000 people think that Bitcoin will surpass the price of $10,000 per coin.

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