"There is an unfathomable amount of new participants piling into the cryptocurrency market".
Ultimately, however, Bitcoin received a boost after an announcement on Friday by the USA derivatives regulator that it would permit CME Group Inc and CBOE Global Markets to list bitcoin futures contracts.
The price of Bitcoin has been steadily increasing over the past several weeks, with industry experts saying that the trend is likely to continue in coming days. However, the low today was at around $11,560, which is basically nothing compared to the total increase day after day.
As of this writing, Bitcoin is now trading at $13,128, a gain of over 13% in less than 24 hours. Just one year ago one bitcoin was worth $764. Its market cap is now at $219.6 billion.
State Street Corp Buys 216869 Shares of Barrick Gold Corp (ABX)
Marathon Asset Management LLP acquired a new position in Barrick Gold in the third quarter valued at approximately $43,138,000. The stock has a market cap of $16,230.00, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 9.54 and a beta of -0.42.
The value of bitcoin - the world's most popular cryptocurrency - surged past £10,000 ($13,300) per coin on Wednesday (6 December), defying critics to reach yet another all-time high.
Britain and other European Union governments have announced plans to control cryptocurrencies, including bitcoin, due to concerns over their potential use for money laundering and financing terrorism. A very recent article on the issue can be found in Ars Technica.
However, until we get that update, it appears bitcoin is still on its winning streak. This development will open bitcoin to a wider range of investors who will be able to trade bitcoin futures.
This could result in a new surge of money into bitcoin. The extreme premiums underline the unprecedented demand and appetite for the decentralized currency that is resoundingly seen as a store of value for investors, beyond its utility as a currency. Many expect a correction at any time and others even expect a crash but so far every dip has been followed by another rise and a new record high. The continuing volatility of bitcoin's price will likely limit its use and acceptance as a currency.