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Bitcoin Makes History, Hits Over $9,000

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According to Coin Desk. the price of a bitcoin has continued to rise, passing $9,000 for the first time this morning.

Bitcoin rose more than 8 percent to a record high of $9,484.91 according to CoinDesk, and was trading around $9,300 Sunday afternoon. Another digital currency, ethereum, also hit an all-time high of $485.19 Saturday, according to CoinMarketCap.

“The move appears to be retail driven,” said Brian Kelly, a CNBC contributor and CEO of BKCM, which runs a digital assets strategy.

CoinMarketCap data indicates that bitcoin has risen 6.16 percent in 24 hours, and 16.27 percent over the last seven days.

Bitcoin’s amazing gains have helped drive the combined market value for all cryptocurrencies to yet another at new high of $285 billion. Bitcoin’s market capitalization is now almost $151 billion.

According to CNBC, Bitcoin has multiplied more than nine times in value this year, amid increased interest from institutional investors.

The world’s largest futures exchange, CME, is planning to list bitcoin futures in the second week of December. The launch of a derivatives product for the digital currency will mark another step in establishing bitcoin as a legitimate asset class.

Written by DFGR Research Team.

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