today-is-a-good-day
4.3 C
New York
Friday, March 29, 2024
HomeNewsBitcoin surges closer to $12,000 mark

Bitcoin surges closer to $12,000 mark

The price of cryptocurrency bitcoin surged to 11,800 dollars on Sunday afternoon – its highest level yet.

Bitcoin, a peer-to-peer digital currency system created in 2009 that is not propped up by a central bank, has seen its value increase ten-fold, but with dramatic fluctuations, this year.

After surpassing the 11,000-dollar threshold on Wednesday, the currency fell to around 9,000 dollars the following day.

Central bankers have warned of bitcoin’s unpredictability and of indications that it constitutes a bubble asset that could come crashing down in value.

On Friday, the cryptocurrency got a boost on its way to becoming an established financial product with a statement from the world’s largest derivatives exchange, CME, that futures contracts for bitcoin would be available in two weeks time.

Advertisements

After surpassing the 11,000 dollar threshold on Wednesday, the currency fell to around 9,000 dollars the following day.

Advertisements

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Recent Comments

Onuegbu Chuks Theophilus on Mikel Obi quits Super Eagles
Thomas H. Anderson on Roman Goddess_3
Oladimeji Emmanuel on Obama sends investors to Buhari