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Mr. Crowd News |  Market
40% Gain Within a Week, Bitcoin Above $16,000 By Mr. Crowd 7 Dec 201720:58 | ||||||||||
With the approaching launch of bitcoin futures this weekend by Chicago Board Options Exchange, one of the world’s biggest derivatives exchanges, bitcoin (BTC) is now trading at above $16,000 according to Reuters and even higher on some other exchanges.
That’s a gain of 12% today, and up over 40% since the start of the week. Bitcoin serves as a new kind of currency for the digital era. It works across international borders and doesn't need to be backed by banks or governments. Or at least that was the promise when it was created in 2009. The surge and volatility of bitcoin this year may be great for those who invested early, but it undermines bitcoin's viability as a currency. After the launch of bitcoin futures, which will allow investors to take speculative “short” positions on the cryptocurrency, as well as “long” positions, could cause even greater volatility. Disclaimer: Market news (the Market News) is not intended as investment advice and must not be relied on as such. To the maximum extent permissible by applicable law, Mr. Crowd assumes no liability or responsibility whatsoever for any errors or omissions in the Market News. Mr. Crowd does not endorse or represent the reliability or accuracy of the Market News. Mr. Crowd shall not be liable for any investment decisions made based upon the Market News. The Market News may contain hyperlinks to external websites or web pages for which Mr. Crowd is not responsible. Copyright exists in the Market News may belong to Mr. Crowd, to the authors, or to any other parties depending on the circumstances. Reproduction, distribution, use and/or linking without consent from the relevant parties is not permitted. If you believe or are aware that any information contained in the materials is inaccurate, erroneous, unlawful, obscene, defamatory or infringes any intellectual property rights of a third party, please contact Mr. Crowd by email at: cs@mrcrowd.com. |
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