Cryptocurrency Market Cap Hits a New Record High

Bitcoin Isn’t “Too Expensive”

According to the report, the decision came after the digital currency Bitcoin hit record highs when CME Group, operator of the world's largest futures and options exchange, announced the launch of Bitcoin futures by the year-end. The popular cryptocurrency managed to hit a new record price of $6915 and a market cap valuation of over $115 billion at the time of writing.

The most valuable cryptocurrency, Bitcoin, has smashed a new record for itself and any other cryptocurrency. The currency reached an all-time high of $7,355.35 Thursday morning.

The most popular and well-known cryptocurrency, Bitcoin, has been taking the headlines today due to the enormous strength it has and surging to another high at $7,000.

Cryptocurrency market capitalization has grown in recent years to $172 billion, with bitcoin representing more than 54 percent of that total, or $94 billion. CME Group's decision to offer bitcoin futures - allowing investors to bet on the price of the cryptocurrency rising or falling by a certain date - on Tuesday sparked its jump from around $6,100 a coin to its current levels above $7,000. China, South Korea, Russia, and Vietnam have already emplaced stringent restrictions on digital currencies, with many hoping that China will return.




The contract is planned to be cash-settled and be based on the CME CF Bitcoin Reference Rate (BRR), which the company started in November 2016 with London-based digital trading platform Crypto Facilities. The surges are the major areas of interest to them and so far, bitcoin has been going through plenty of them.

These are just a few and widely varying, examples of where the bitcoin's value could head to in the next decade.

There are three plausible scenarios, though only one leads to bitcoin becoming more mainstream.

The present price of Bitcoin in India is at Rs 4.9 lakh. As long as demand for it remains, it will continue to grow and as its value does, so too will future price predictions.

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