Bitcoin bull run hasn’t stopped even for a single moment in the last few days with the cryptocurrency hitting a new high of almost $7,450 mark.
Bitcoin price traded at its all time high of $7,447 on Friday and while many believe that the cryptocurrency is on a volatile trajectory that could see a massive correction in the next few days, optimism is in the air with hopes that bitcoin will hit the $10,000 mark before end of this year.
November has been a great month for bitcoin so far with its price striking new all-time highs every consecutive day. The price surge is fueled partly by buzz in the Wall Street created by CME Group’s announcement that they will be launching bitcoin futures trading before the end of the year, pending regulatory approval. The announcement is a huge positive for bitcoin, but there are those who aren’t too impressed with the move and claim that investors are at a greater risk.
On Friday, bitcoin price struck a new record high of $7,747 on Bitfinex at 09:30 (UTC). At press time, bitcoin is trading to the dollar at $7,392.
Global average price for bitcoin – factoring in various spreads among global markets – saw a new high of $7,419.38. The Japanese market led the way in the global scales followed by USD-based trading markets and South Korea, with over $3.5 billion in bitcoin value flows among the three markets over a 24-hour period.
According to CoinmarketCap, bitcoin is now up 4.6% on the day with overall gains of 26.4% in a 7-day period. The total value of bitcoin’s market cap is now above $123 billion.