[2017-11-02]Bitcoin Price Climbs Above $7,000 for the First Time Ever

[patrickUN]

Any guesses as to what is currently driving the whole world crazy??  You’re right, its Bitcoin! This week has been a marathon run in the price of this most valued cryptocurrency with a jump of almost 10-15% in past four days itself. Bitcoin has once again touched a new high above $7000. As per coinmarketcap.com, Bitcoin is currently trading at $7026.47 with a more than staggering $3.5B trade volume in past 24-hours. Now Bitcoin itself contributes a $117B in valuations in the $189B market cap of cryptocurrencies.

One of the major news that has fueled this unprecedented rally is the fact that two major exchanges from U.S. have announced starting the Bitcoin Futures Contracts. CME Group Inc. – world’s largest futures market operator has said that it will soon start cash-settled Bitcoin futures contract by the year-end and is currently waiting for an approval from the U.S. Commodity Futures Trading Commission. Just a few months back, the CME Group has rejected any such plans but now says that it had to reconsider its decision owing to huge client demands. All the cash settled Bitcoin futures contract will be based on the CME CF Bitcoin Reference Rate* (BRR).

https://www.coinspeaker.com/2017/11/02/bitcoin-price-climbs-7000-first-time-ever/

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[marckenigsberg]

There is still plenty of crypto time left in 2017.
The next two months are going to be insane!

[cammie16]

Any guesses as to what is currently driving the whole world crazy??  You’re right, its Bitcoin! This week has been a marathon run in the price of this most valued cryptocurrency with a jump of almost 10-15% in past four days itself. Bitcoin has once again touched a new high above $7000. As per coinmarketcap.com, Bitcoin is currently trading at $7026.47 with a more than staggering $3.5B trade volume in past 24-hours. Now Bitcoin itself contributes a $117B in valuations in the $189B market cap of cryptocurrencies.

One of the major news that has fueled this unprecedented rally is the fact that two major exchanges from U.S. have announced starting the Bitcoin Futures Contracts. CME Group Inc. – world’s largest futures market operator has said that it will soon start cash-settled Bitcoin futures contract by the year-end and is currently waiting for an approval from the U.S. Commodity Futures Trading Commission. Just a few months back, the CME Group has rejected any such plans but now says that it had to reconsider its decision owing to huge client demands. All the cash settled Bitcoin futures contract will be based on the CME CF Bitcoin Reference Rate* (BRR).

https://www.coinspeaker.com/2017/11/02/bitcoin-price-climbs-7000-first-time-ever/

I have a feeling that it's because of the segwit2? Those holder of btc will have 1:1 ratio. Im not sure, this also happened last forked of bch.
I wish all altcoins price will go up too, most of altcoins have low price now.

[SvenBomvolen]

Honestly I was expected a correction of the price after 25th of October, but the price just continue to beat new and new records! Everybody were saying that 10000$ is the target for the next year only, but now I am asking myself: "maybe this year already?"

[1Referee]

It seems that Japan and South Korea have pushed the market a bit further than the west, but that's not much to be surprised about considering the higher overall demand there. The only actual USD exchange having reached $7000 was GDAX, and the rest of the exchanges who reached $7000 and up were all in non USD nomination.

Honestly I was expected a correction of the price after 25th of October, but the price just continue to beat new and new records!

BTG is too insigificant to make people buy up the market significantly, just for the purpose of ending up with more split coins. S2X on the other hand, might be the one taking the market down after the chain has officially split. For that reason I do expect a correction to kick in after the fork. See it as a very decent buy back opportunity, because from time to time it's good to cash out some profits, which is exactly what I did.

Everybody were saying that 10000$ is the target for the next year only, but now I am asking myself: "maybe this year already?"

Nothing is impossible anymore, that is a proven fact this year.

[Marucya]

Bitcoinov beats price records and it's great. However, it is bad that the majority of altcoyins, including the etherium, do not grow in price together with bitcoin. This creates a certain imbalance in the use of crypto currency in general. After all, most of the altcoyins before conversion to fiat must first be converted to bitcoin.

[metricspigjump]

Any guesses as to what is currently driving the whole world crazy??  You’re right, its Bitcoin! This week has been a marathon run in the price of this most valued cryptocurrency with a jump of almost 10-15% in past four days itself. Bitcoin has once again touched a new high above $7000. As per coinmarketcap.com, Bitcoin is currently trading at $7026.47 with a more than staggering $3.5B trade volume in past 24-hours. Now Bitcoin itself contributes a $117B in valuations in the $189B market cap of cryptocurrencies.

One of the major news that has fueled this unprecedented rally is the fact that two major exchanges from U.S. have announced starting the Bitcoin Futures Contracts. CME Group Inc. – world’s largest futures market operator has said that it will soon start cash-settled Bitcoin futures contract by the year-end and is currently waiting for an approval from the U.S. Commodity Futures Trading Commission. Just a few months back, the CME Group has rejected any such plans but now says that it had to reconsider its decision owing to huge client demands. All the cash settled Bitcoin futures contract will be based on the CME CF Bitcoin Reference Rate* (BRR).

https://www.coinspeaker.com/2017/11/02/bitcoin-price-climbs-7000-first-time-ever/

Woah,  thanks for the update.  It's almost at 7.05k atm.

[Oo ako to]

This is crazy. I thought those speculation on the $10k is about to happen next year but after seeing btc reaching another all time high to $7k , I think it is going to happen in the last weeks of this year. I'm happy on what is happening but also worried at the same time and I don't know why.